Monetary policy - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T09:11:03+00:00Time-Consistent Management of a Liquidity Trap with Government Debt
https://www.bankofcanada.ca/2018/07/staff-working-paper-2018-38/
This paper studies optimal discretionary monetary and fiscal policy when the lower bound on nominal interest rates is occasionally binding in a model with nominal rigidities and long-term government debt. At the lower bound it is optimal for the government to temporarily reduce debt.2018-07-30T08:56:23+00:00enTime-Consistent Management of a Liquidity Trap with Government Debt2018-07-30Fiscal policyMonetary policyStaff Working Paper 2018-38https://www.bankofcanada.ca/wp-content/uploads/2018/07/swp2018-38.pdfTime-Consistent Management of a Liquidity Trap with Government DebtDmitry MatveevJuly 2018EE5E52E6E62E63The Extensive Margin of Trade and Monetary Policy
https://www.bankofcanada.ca/2018/07/staff-working-paper-2018-37/
This paper studies the effects of monetary policy shocks on firms’ participation in exporting. We develop a two-country dynamic stochastic general equilibrium model in which heterogeneous firms
make forward-looking decisions on whether to participate in the export market and prices are staggered across firms and time.2018-07-26T13:00:38+00:00enThe Extensive Margin of Trade and Monetary Policy2018-07-26Business fluctuations and cyclesEconomic modelsFirm dynamicsInternational topicsMonetary policyStaff Working Paper 2018-37https://www.bankofcanada.ca/wp-content/uploads/2018/07/swp2018-37.pdfYuko ImuraMalik ShukayevJuly 2018EE5E52FF1F12F4F44Central Bank Digital Currency and Monetary Policy
https://www.bankofcanada.ca/2018/07/staff-working-paper-2018-36/
Many central banks are contemplating whether to issue central bank digital currency. This piece explores the implications as well as potential motivators of such a step.2018-07-26T12:42:45+00:00enCentral Bank Digital Currency and Monetary Policy2018-07-26Digital currencies and fintechMonetary policyStaff Working Paper 2018-36https://www.bankofcanada.ca/wp-content/uploads/2018/07/swp2018-36.pdfCentral Bank Digital Currency and Monetary Policy Mohammad DavoodalhosseiniJuly 2018EE4E42E5E50Following the Money: Evidence for the Portfolio Balance Channel of Quantitative Easing
https://www.bankofcanada.ca/2018/07/staff-working-paper-2018-33/
Recent research suggests that quantitative easing (QE) may affect a broad range of asset prices through a portfolio balance channel. Using novel security-level holding data of individual US mutual funds, we establish evidence that portfolio rebalancing occurred both within and across funds.2018-07-19T10:08:12+00:00enFollowing the Money: Evidence for the Portfolio Balance Channel of Quantitative Easing2018-07-19Monetary policyMonetary policy implementationMonetary policy transmissionStaff Working Paper 2018-33https://www.bankofcanada.ca/wp-content/uploads/2018/07/swp2018-33.pdfFollowing the Money: Evidence for the Portfolio Balance Channel of Quantitative EasingItay GoldsteinJonathan WitmerJing YangJuly 2018EE5E58GG2G23The Neutral Rate in Canada: 2018 Estimates
https://www.bankofcanada.ca/2018/07/staff-analytical-note-2018-22/
The neutral nominal policy rate serves as a benchmark for assessing the degree of monetary stimulus and provides a medium- to long-run anchor for the policy rate. Since quantitative measures of the neutral rate are subject to considerable uncertainty, Bank staff rely on four different approaches to estimate the Canadian neutral rate.2018-07-03T13:05:22+00:00enThe Neutral Rate in Canada: 2018 Estimates2018-07-03