Staff discussion papers - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T12:37:25+00:00Central Bank Digital Currencies: A Framework for Assessing Why and How
https://www.bankofcanada.ca/2016/11/staff-discussion-paper-2016-22/
Digital currencies have attracted strong interest in recent years and have the potential to become widely adopted for use in making payments. Public authorities and central banks around the world are closely monitoring developments in digital currencies and studying their implications for the economy, the financial system and central banks.2016-11-24T12:24:56+00:00enCentral Bank Digital Currencies: A Framework for Assessing Why and How2016-11-24Digital currencies and fintechFinancial servicesPayment clearing and settlement systemsStaff Discussion Paper 2016-22https://www.bankofcanada.ca/wp-content/uploads/2016/11/sdp2016-22.pdfCentral Bank Digital Currencies: A Framework for Assessing Why and HowBen FungHanna HalaburdaNovember 2016EE4E41E42The Digital Economy—Insight from a Special Survey with IT Service Exporters
https://www.bankofcanada.ca/2016/11/staff-discussion-paper-2016-21/
Information technology (IT) is an increasingly integral part of everyday business and personal life reflecting the ongoing and accelerating digital transformation of the economy. In this paper, we present information gathered from a survey with export-oriented firms in the Canadian IT service industry and consultations with industry associations aimed at shedding light on this small but highly dynamic sector.2016-11-08T11:20:29+00:00enThe Digital Economy—Insight from a Special Survey with IT Service Exporters2016-11-08Firm dynamicsService sectorStaff Discussion Paper 2016-21https://www.bankofcanada.ca/wp-content/uploads/2016/11/sdp2016-21.pdfThe Digital Economy—Insight from a Special Survey with IT Service ExportersWei DongJames FudurichLena SuchanekNovember 2016DD2D22LL8L86OO3O33The 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 2016EE3E37E5FF1F4F41F6Implementing 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 2016EE2E27E3E37FF4F47Using 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 2016GG1G18Leaning Within a Flexible Inflation-Targeting Framework: Review of Costs and Benefits
https://www.bankofcanada.ca/2016/08/staff-discussion-paper-2016-17/
This note examines the merits of monetary policy adjustments in response to financial stability concerns, taking into account changes in the state of knowledge since the renewal of the inflation-targeting agreement in 2011. A key financial system vulnerability in Canada is elevated household indebtedness: as more and more households are nearing their debt-capacity limits, the likelihood and severity of a large negative correction in housing markets are also increasing.2016-08-24T14:44:31+00:00enLeaning Within a Flexible Inflation-Targeting Framework: Review of Costs and Benefits2016-08-24Financial stabilityMonetary policy frameworkStaff Discussion Paper 2016-17https://www.bankofcanada.ca/wp-content/uploads/2016/08/sdp2016-17.pdfLeaning Within a Flexible Inflation-Targeting Framework: Review of Costs and BenefitsDenis GoreaOleksiy KryvtsovTamon TakamuraAugust 2016EE0E4E44E5E52E58GG1G18Credit Risk and Collateral Demand in a Retail Payment System
https://www.bankofcanada.ca/2016/07/staff-discussion-paper-2016-16/
The recent financial crisis has led to the development of new regulations to control risk in designated payment systems, and the implementation of new credit risk management standards is one of the key issues. In this paper, we study various credit risk management schemes for the Canadian retail payment system (ACSS) that are designed to cover the exposure of a defaulting member.2016-07-27T07:41:33+00:00enCredit Risk and Collateral Demand in a Retail Payment System2016-07-27Econometric and statistical methodsFinancial stabilityPayment clearing and settlement systemsStaff Discussion Paper 2016-16https://www.bankofcanada.ca/wp-content/uploads/2016/07/sdp2016-16.pdfCredit Risk and Collateral Demand in a Retail Payment SystemHéctor Pérez SaizGabriel XerriJuly 2016CC5C58GG2G21G23The Role of Central Banks in Promoting Financial Stability: An International Perspective
https://www.bankofcanada.ca/2016/07/staff-discussion-paper-2016-15/
The 2007–09 global financial crisis has led policy-makers around the world, including central banks, to refocus their efforts to promote financial stability. As part of this process, central banks became quite active in supporting financial stability in a variety of ways, such as publicly sharing their assessments of financial system vulnerabilities and risks and helping to strengthen regulation, supervision and macroprudential measures.2016-07-22T11:59:26+00:00enThe Role of Central Banks in Promoting Financial Stability: An International Perspective2016-07-22Financial stabilityFinancial system regulation and policiesStaff Discussion Paper 2016-15https://www.bankofcanada.ca/wp-content/uploads/2016/07/sdp2016-15.pdfThe Role of Central Banks in Promoting Financial Stability: An International PerspectiveRose CunninghamChristian FriedrichJuly 2016EE5GG0G01G2G28Clearing and Settlement Systems from Around the World: A Qualitative Analysis
https://www.bankofcanada.ca/2016/06/staff-discussion-paper-2016-14/
As Canada continues to engage in a dialogue to develop the approach to modernizing its core payment systems, we analyze the core payment systems that exist in countries around the world. We study payment systems in 27 jurisdictions, encompassing a broad range of geographic regions, through three levels of analysis.2016-06-16T09:03:09+00:00enClearing and Settlement Systems from Around the World: A Qualitative Analysis2016-06-16Financial servicesFinancial system regulation and policiesPayment clearing and settlement systemsStaff Discussion Paper 2016-14https://www.bankofcanada.ca/wp-content/uploads/2016/06/sdp2016-14.pdfClearing and Settlement Systems from Around the World: A Qualitative AnalysisMichael TompkinsAriel OlivaresJune 2016EE4E42LL1L14L15L5L52The Doug Purvis Memorial Lecture—Monetary/Fiscal Policy Mix and Financial Stability: The Medium Term Is Still the Message
https://www.bankofcanada.ca/2016/06/staff-discussion-paper-2016-13/
In the Doug Purvis Memorial Lecture, Governor Stephen S. Poloz shows how changing the mix of monetary and fiscal policies can yield the same outcomes for growth and inflation, but lead to different results for public sector and private sector debt levels, which can impact financial stability.2016-06-04T12:39:19+00:00enThe Doug Purvis Memorial Lecture—Monetary/Fiscal Policy Mix and Financial Stability: The Medium Term Is Still the Message2016-06-04Economic modelsFinancial stabilityFiscal policyMonetary policy frameworkStaff Discussion Paper 2016-13https://www.bankofcanada.ca/wp-content/uploads/2016/06/sdp2016-13.pdfThe Doug Purvis Memorial Lecture—Monetary/Fiscal Policy Mix and Financial Stability: The Medium Term Is Still the MessageStephen S. PolozJune 2016EE3E37E5E6E63