Posts - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T12:24:08+00:00Research Update - December 2020
https://www.bankofcanada.ca/wp-content/uploads/2021/01/monthly-research-newsletter-december-2020.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.2020-12-31T10:16:57+00:00enResearch Update - December 20202020-12-31Consumer Credit with Over-optimistic Borrowers
https://www.bankofcanada.ca/2020/12/staff-working-paper-2020-57/
When lenders cannot directly identify behavioural and rational borrowers, they use type scoring to track the likelihood of a borrower’s type. This leads to the partial pooling of borrowers, which results in rational borrowers subsidizing borrowing costs for behavioural borrowers. This, in turn, reduces the effectiveness of regulatory policies that target mistakes by behavioural borrowers.2020-12-30T08:51:56+00:00enConsumer Credit with Over-optimistic Borrowers2020-12-30Credit and credit aggregatesCredit risk managementFinancial system regulation and policiesStaff Analytical Note 2020-57https://www.bankofcanada.ca/wp-content/uploads/2020/12/swp2020-57.pdfStaff Analytical Note 2020-57Florian ExlerIgor LivshitsJames (Jim) C. MacGeeMichèle TertiltDecember 2020EE2E21E4E49GG1G18KK3K35Losing Contact: The Impact of Contactless Payments on Cash Usage
https://www.bankofcanada.ca/2020/12/staff-working-paper-2020-56/
Contactless payment cards are a competitive alternative to cash. Using Canadian panel data from 2010 to 2017, this study investigates whether contactless credit cards are an important contributor to the decline in the transactional use of cash. 2020-12-29T09:32:24+00:00enLosing Contact: The Impact of Contactless Payments on Cash Usage2020-12-29Bank notesDigital currencies and fintechEconometric and statistical methodsFinancial servicesStaff Working Paper 2020-56https://www.bankofcanada.ca/wp-content/uploads/2020/12/swp2020-56.pdfStaff Working Paper 2020-56Marie-Hélène FeltDecember 2020CC3C33DD1D12EE4E41Boxing Day
https://www.bankofcanada.ca/2020/12/boxing-day/
National holiday2020-12-28T23:59:08+00:00enBoxing Day2020-12-28Christmas Day
https://www.bankofcanada.ca/2020/12/christmas-day/
National holiday2020-12-25T23:59:01+00:00enChristmas Day2020-12-25Implementation and Effectiveness of Extended Monetary Policy Tools: Lessons from the Literature
https://www.bankofcanada.ca/2020/12/staff-discussion-paper-2020-16/
This paper summarizes the literature on the performance of various extended monetary policy tools when conventional policy rates are constrained by the effective lower bound. We highlight issues that may arise when these tools are used by central banks of small open economies.2020-12-23T11:29:51+00:00enImplementation and Effectiveness of Extended Monetary Policy Tools: Lessons from the Literature2020-12-23Monetary policyMonetary policy implementationMonetary policy transmissionStaff Discussion Paper 2020-16https://www.bankofcanada.ca/wp-content/uploads/2020/12/sdp2020-16.pdfStaff Discussion Paper 2020-16Grahame JohnsonSharon KozickiRomanos PriftisLena SuchanekJonathan WitmerJing YangDecember 2020EE5E52E58E6E63A Reference Guide for the Business Outlook Survey
https://www.bankofcanada.ca/2020/12/staff-discussion-paper-2020-15/
The Business Outlook Survey (BOS) has become an important part of monetary policy deliberations at the Bank of Canada and is also well known in Canadian policy and financial circles. This paper compiles more than 20 years of experience conducting the BOS and serves as a comprehensive reference manual.2020-12-23T10:13:15+00:00enA Reference Guide for the Business Outlook Survey2020-12-23Firm dynamicsRegional economic developmentsStaff Discussion Paper 2020-15https://www.bankofcanada.ca/wp-content/uploads/2020/12/sdp2020-15.pdfStaff Discussion Paper 2020-15David AmiraultNaveen RaiLaurent MartinDecember 2020CC8C83DD2D22EE3E32Operational details for upcoming secondary market purchases of Government of Canada securities (January 4-15)
https://www.bankofcanada.ca/2020/12/secondary-market-purchases-securities-january-4-15/
As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP). The GBPP operations for the two-week period beginning January 4, 2021 are announced below.2020-12-18T14:00:12+00:00enOperational details for upcoming secondary market purchases of Government of Canada securities (January 4-15)2020-12-18Strategic Uncertainty in Financial Markets: Evidence from a Consensus Pricing Service
https://www.bankofcanada.ca/2020/12/staff-working-paper-2020-55/
We look at the informational content of consensus pricing in opaque over-the-counter markets. We show that the availability of price data informs participants mainly about other participants’ valuations, rather than about the value of a financial security.2020-12-18T11:28:49+00:00enStrategic Uncertainty in Financial Markets: Evidence from a Consensus Pricing Service2020-12-18Financial institutionsFinancial marketsMarket structure and pricingStaff Working Paper 2020-55https://www.bankofcanada.ca/wp-content/uploads/2020/12/swp2020-55.pdfStrategic Uncertainty in Financial Markets: Evidence from a Consensus Pricing ServiceLerby ErgunAndreas UthemannDecember 2020CC5C58DD5D53D8D83GG1G12G14Return to Standard Terms for Government of Canada Bond Auctions
https://www.bankofcanada.ca/2020/12/return-standard-terms-government-canada-bond-auctions/
The Bank of Canada today announced a plan for a phased return to standard terms for auctions of Government of Canada nominal bonds and real return bonds by June 2021.2020-12-18T10:00:03+00:00enReturn to Standard Terms for Government of Canada Bond Auctions2020-12-18