E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T09:08:57+00:00Implementation 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 2020EE5E52E58E6E63Labor Market Policies During an Epidemic
https://www.bankofcanada.ca/2020/12/staff-working-paper-2020-54/
We study the labour market and welfare effects of expanding unemployment insurance benefits and introducing payroll subsidies during the COVID-19 pandemic. We find that both policies are complementary and are beneficial to different types of workers. Payroll subsidies preserve the employment of workers in highly productive jobs, while unemployment insurance replaces lost income for workers who experience inevitable job loss.2020-12-16T08:59:45+00:00enLabor Market Policies During an Epidemic2020-12-16Business fluctuations and cyclesCoronavirus disease (COVID-19)Fiscal policyLabour marketsStaff Working Paper 2020-54https://www.bankofcanada.ca/wp-content/uploads/2020/12/swp2020-54.pdfStaff Working Paper 2020-54Serdar BirinciFatih KarahanYusuf MercanKurt SeeDecember 2020EE2E24E6E62JJ6J64Potential output in Canada: 2020 reassessment
https://www.bankofcanada.ca/2020/10/staff-analytical-note-2020-25/
After COVID-19, we expect potential output growth to stabilize around 1.2 percent. This is lower than the 2010–18 average growth of 1.8 percent. Relative to the April 2019 reassessment, the growth profile is revised down. Given the unknown course of the pandemic, uncertainty around these estimates is higher than in previous years.2020-10-22T07:33:34+00:00enPotential output in Canada: 2020 reassessment2020-10-22Household indebtedness risks in the wake of COVID‑19
https://www.bankofcanada.ca/2020/06/staff-analytical-note-2020-8/
COVID-19 presents challenges for indebted households. We assess these by drawing parallels between pandemics and natural disasters. Taking into account the financial health of the household sector when the pandemic began, we run model simulations to illustrate how payment deferrals and the labour market recovery will affect mortgage defaults.2020-06-05T10:00:32+00:00enHousehold indebtedness risks in the wake of COVID‑192020-06-05The Power of Helicopter Money Revisited: A New Keynesian Perspective
https://www.bankofcanada.ca/2020/02/staff-discussion-paper-2020-1/
We analyze money financing of fiscal transfers (helicopter money) in two simple New Keynesian models: a “textbook” model in which all money is non-interest-bearing (e.g., all money is currency), and a more realistic model with interest-bearing reserves.2020-02-07T16:29:53+00:00enThe Power of Helicopter Money Revisited: A New Keynesian Perspective2020-02-07CredibilityEconomic modelsFiscal policyInflation targetsInterest ratesMonetary policyMonetary policy and uncertaintyMonetary policy frameworkMonetary policy transmissionStaff Discussion Paper 2020-1https://www.bankofcanada.ca/wp-content/uploads/2020/02/sdp2020-1.pdfThe Power of Helicopter Money Revisited: A New Keynesian PerspectiveThomas J. CarterRhys R. MendesFebruary 2020EE1E12E4E41E43E5E51E52E58E6E61E63