Research - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T08:41:51+00:00Financial Constraint and Productivity: Evidence from Canadian SMEs
https://www.bankofcanada.ca/2016/09/staff-working-paper-2016-44/
The degree to which financial constraint is binding is often not directly observable in commonly used business data sets (e.g., Compustat). In this paper, we measure and estimate the likelihood of a firm being constrained by external financing using a data set of small- and medium-sized Canadian firms.2016-09-28T09:42:23+00:00enFinancial Constraint and Productivity: Evidence from Canadian SMEs2016-09-28Firm dynamicsProductivityStaff Working Paper 2016-44https://www.bankofcanada.ca/wp-content/uploads/2016/09/swp2016-44.pdfFinancial Constraint and Productivity: Evidence from Canadian SMEsShutao CaoDanny LeungSeptember 2016DD2D24GG3G32LL2L25The Paul Storer Memorial Lecture—Cross-Border Trade Integration and Monetary Policy
https://www.bankofcanada.ca/2016/09/staff-discussion-paper-2016-20/
In this paper we explore the nexus between cross-border trade integration and monetary policy. We first review the evidence that trade liberalization has increased the degree of integration in North America and conclude that, while robust structural inferences remain elusive, there is sufficient supporting evidence for central banks to treat the issue seriously.2016-09-26T18:55:04+00:00enThe Paul Storer Memorial Lecture—Cross-Border Trade Integration and Monetary Policy2016-09-26Economic modelsMonetary policyTrade integrationStaff Discussion Paper 2016-20https://www.bankofcanada.ca/wp-content/uploads/2016/09/sdp2016-20.pdfThe Paul Storer Memorial Lecture—Cross-Border Trade Integration and Monetary PolicyStephen S. PolozSeptember 2016EE3E37E5FF1F4F41F6On What States Do Prices Depend? Answers from Ecuador
https://www.bankofcanada.ca/2016/09/staff-working-paper-2016-43/
In this paper, we argue that differences in the cost structures across sectors play an important role in firms’ decisions to adjust their prices. We develop a menu-cost model of pricing in which retail firms intermediate trade between producers and consumers.2016-09-22T15:13:55+00:00enOn What States Do Prices Depend? Answers from Ecuador2016-09-22Inflation and pricesMonetary policy transmissionStaff Working Paper 2016-43https://www.bankofcanada.ca/wp-content/uploads/2016/09/swp2016-43.pdfOn What States Do Prices Depend? Answers from EcuadorCraig BenedictMario J. CruciniAnthony LandrySeptember 2016EE3E5FF3F33A Primer on Neo-Fisherian Economics
https://www.bankofcanada.ca/2016/09/staff-analytical-note-2016-14/
Conventional models imply that central banks aiming to raise inflation should lower nominal rates and thus stimulate aggregate demand. However, several economists have recently challenged this conventional wisdom in favour of an alternative “neo-Fisherian’’ view under which higher nominal rates might in fact lead to higher inflation.2016-09-22T14:53:44+00:00enA Primer on Neo-Fisherian Economics2016-09-22The Global Benefits of Low Oil Prices: More Than Meets the Eye
https://www.bankofcanada.ca/2016/09/staff-analytical-note-2016-13/
Between mid-2014 and early 2016, oil prices fell by roughly 65 per cent. This note documents the channels through which this oil price decline is expected to affect the global economy. One important and immediate channel is through higher expenditures, especially in net oil-importing countries.2016-09-22T09:46:56+00:00enThe Global Benefits of Low Oil Prices: More Than Meets the Eye2016-09-22Implementing Cross-Border Interbank Lending in BoC-GEM-FIN
https://www.bankofcanada.ca/2016/09/staff-discussion-paper-2016-19/
BIS interbank lending data show that the Great Recession generated large and persistent changes in the international interbank lending positions of various countries. The main objective of this study is to understand the role of changes in international interbank credit flows in transmitting shocks across borders.2016-09-14T15:02:40+00:00enImplementing Cross-Border Interbank Lending in BoC-GEM-FIN2016-09-14Business fluctuations and cyclesEconomic modelsInternational topicsStaff Discussion Paper 2016-19https://www.bankofcanada.ca/wp-content/uploads/2016/09/sdp2016-19.pdfImplementing Cross-Border Interbank Lending in BoC-GEM-FINMalik ShukayevArgyn ToktamyssovSeptember 2016EE2E27E3E37FF4F47Household Risk Assessment Model
https://www.bankofcanada.ca/2016/09/technical-report-106/
Household debt can be an important source of vulnerability to the financial system. This technical report describes the Household Risk Assessment Model (HRAM) that has been developed at the Bank of Canada to stress test household balance sheets at the individual level.2016-09-12T14:12:27+00:00frHousehold Risk Assessment Model2016-09-12Financial stabilityHousingSectoral balance sheetTechnical Report 106https://www.bankofcanada.ca/wp-content/uploads/2016/09/tr106.pdfHousehold Risk Assessment ModelBrian PetersonTom RobertsSeptember 2016CC0C6C63C65DD0D1D14Using Speed and Credit Limits to Address the Procyclicality of Initial Margin at Central Counterparties
https://www.bankofcanada.ca/2016/09/staff-discussion-paper-2016-18/
This paper proposes a practical approach to address the procyclicality of initial margin at central counterparties (CCPs) that can work even in periods of extreme stress. The approach allows CCPs to limit the speed of margin increases resulting from spikes in market volatility.2016-09-12T13:15:25+00:00enUsing Speed and Credit Limits to Address the Procyclicality of Initial Margin at Central Counterparties2016-09-12Financial marketsFinancial stabilityFinancial system regulation and policiesPayment clearing and settlement systemsStaff Discussion Paper 2016-18https://www.bankofcanada.ca/wp-content/uploads/2016/09/sdp2016-18.pdfUsing Speed and Credit Limits to Address the Procyclicality of Initial Margin at Central CounterpartiesNikil ChandeNicholas LabelleSeptember 2016GG1G18