Posts - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T17:56:19+00:00Summary of Government of Canada - Outstanding as at 31 December 2017
https://www.bankofcanada.ca/wp-content/uploads/2018/04/loans-book-2017.pdf
2017-12-31T14:16:05+00:00enSummary of Government of Canada - Outstanding as at 31 December 20172017-12-31Research Update - December 2017
https://www.bankofcanada.ca/wp-content/uploads/2018/01/monthly-research-newsletter-december-2017.pdf
This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website.2017-12-31T06:00:59+00:00enResearch Update - December 20172017-12-31The Impacts of Minimum Wage Increases on the Canadian Economy
https://www.bankofcanada.ca/2017/12/staff-analytical-note-2017-26/
This note reviews the channels through which scheduled minimum wage increases over the coming years may affect Canadian economic activity and inflation and assesses their macroeconomic impacts. From reduced-form estimates of direct minimum wage pass-through, we find that consumer price index (CPI) inflation could be boosted by about 0.1 percentage point (pp) on average in 2018.2017-12-29T09:40:59+00:00enThe Impacts of Minimum Wage Increases on the Canadian Economy2017-12-29Banking and Financial Statistics - December 2017
https://www.bankofcanada.ca/wp-content/uploads/2017/12/bfs_december17.pdf
2017-12-28T11:01:49+00:00enBanking and Financial Statistics - December 20172017-12-28Wage Dynamics and Returns to Unobserved Skill
https://www.bankofcanada.ca/2017/12/staff-working-paper-2017-61/
Economists disagree about the factors driving the substantial increase in residual wage inequality in the U.S. over the past few decades. We identify and estimate a general model of log wage residuals that incorporates: (i) changing returns to unobserved skills, (ii) a changing distribution of unobserved skills, and (iii) changing volatility in wages due to factors unrelated to skills.2017-12-27T10:25:24+00:00enWage Dynamics and Returns to Unobserved Skill2017-12-27Econometric and statistical methodsLabour marketsStaff Working Paper 2017-61https://www.bankofcanada.ca/wp-content/uploads/2017/12/swp2017-61.pdfWage Dynamics and Returns to Unobserved SkillLance LochnerYoungmin ParkYoungki ShinDecember 2017CC2C23JJ2J24J3J31Bank of Canada Announces a Reduction to the Minimum Amount of Government of Canada Nominal Bonds it Acquires at Auction
https://www.bankofcanada.ca/2017/12/bank-canada-announces-reduction-minimum-amount/
The Bank of Canada announced today that it is decreasing its minimum purchase amount of nominal bonds at auctions to 13 per cent from the current 14 per cent level, effective immediately.2017-12-21T10:00:42+00:00enBank of Canada Announces a Reduction to the Minimum Amount of Government of Canada Nominal Bonds it Acquires at Auction2017-12-21Who Pays? CCP Resource Provision in the Post-Pittsburgh World
https://www.bankofcanada.ca/2017/12/staff-discussion-paper-2017-17/
At the Pittsburgh Summit in 2009, G20 countries announced their commitment to clear all standardized over-the-counter (OTC) derivatives through central counterparties (CCPs). Since then, CCPs have become increasingly important and there has been an extensive program of regulatory enhancements to both them and OTC derivatives markets.2017-12-20T10:00:47+00:00enWho Pays? CCP Resource Provision in the Post-Pittsburgh World2017-12-20Financial marketsFinancial stabilityFinancial system regulation and policiesStaff Discussion Paper 2017-17https://www.bankofcanada.ca/wp-content/uploads/2017/12/sdp2017-17.pdfWho Pays? CCP Resource Provision in the Post-Pittsburgh WorldJorge Cruz LopezMark ManningDecember 2017GG0G01G2G28Which Model to Forecast the Target Rate?
https://www.bankofcanada.ca/2017/12/staff-working-paper-2017-60/
Specifications of the Federal Reserve target rate that have more realistic features mitigate in-sample over-fitting and are favored in the data.2017-12-20T08:33:46+00:00enWhich Model to Forecast the Target Rate?2017-12-20Financial marketsInterest ratesStaff Working Paper 2017-60https://www.bankofcanada.ca/wp-content/uploads/2017/12/swp2017-60.pdfWhich Model to Forecast the Target Rate?Bruno FeunouJean-Sébastien FontaineJianjian JinDecember 2017EE4E43Credit Risk Transfer and Bank Insolvency Risk
https://www.bankofcanada.ca/2017/12/staff-working-paper-2017-59/
The present paper shows that, everything else equal, some transactions to transfer portfolio credit risk to third-party investors increase the insolvency risk of banks. This is particularly likely if a bank sells the senior tranche and retains a sufficiently large first-loss position.2017-12-19T14:37:59+00:00enCredit Risk Transfer and Bank Insolvency Risk2017-12-19Credit risk managementFinancial institutionsFinancial stabilityStaff Working Paper 2017-59https://www.bankofcanada.ca/wp-content/uploads/2017/12/swp2017-59.pdfCredit Risk Transfer and Bank Insolvency RiskMaarten van OordtDecember 2017GG2G21G28G3G32Variance Premium, Downside Risk and Expected Stock Returns
https://www.bankofcanada.ca/2017/12/staff-working-paper-2017-58/
We decompose total variance into its bad and good components and measure the premia associated with their fluctuations using stock and option data from a large cross-section of firms.2017-12-19T14:27:16+00:00enVariance Premium, Downside Risk and Expected Stock Returns2017-12-19Asset pricingFinancial marketsStaff Working Paper 2017-58https://www.bankofcanada.ca/wp-content/uploads/2017/12/swp2017-58.pdfVariance Premium, Downside Risk and Expected Stock ReturnsBruno FeunouRicardo Lopez AliouchkinRoméo TedongapLai XiDecember 2017GG1G12