D84 - Expectations; Speculations - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T13:31:41+00:00Tracking the financial vulnerabilities of households and the housing market
https://www.bankofcanada.ca/2022/11/tracking-the-financial-vulnerabilities-of-households-and-the-housing-market/
The Bank of Canada is publishing a new set of indicators of financial vulnerabilities. This will allow households, the private sector, financial authorities and governments to better understand and monitor the evolution of two key vulnerabilities in the financial system: the elevated level of household indebtedness and high house prices.2022-11-22T11:45:37+00:00enTracking the financial vulnerabilities of households and the housing market2022-11-22Behavioral Learning Equilibria in New Keynesian Models
https://www.bankofcanada.ca/2022/09/staff-working-paper-2022-42/
We introduce behavioral learning equilibria (BLE) into DSGE models with boundedly rational agents using simple but optimal first order autoregressive forecasting rules. The Smets-Wouters DSGE model with BLE is estimated and fits well with inflation survey expectations. As a policy application, we show that learning requires a lower degree of interest rate smoothing.2022-09-22T12:58:42+00:00enBehavioral Learning Equilibria in New Keynesian Models2022-09-22Business fluctuations and cyclesEconomic modelsInflation and pricesMonetary policyStaff Working Paper 2022-42https://www.bankofcanada.ca/wp-content/uploads/2022/09/swp2022-42.pdfStaff Working Paper 2022-42Cars HommesKostas MavromatisTolga ÖzdenMei ZhuSeptember 2022CC1C11DD8D83D84EE3E6E62How Do People View Price and Wage Inflation?
https://www.bankofcanada.ca/2022/07/staff-working-paper-2022-34/
This paper examines household-level data from the Canadian Survey of Consumer Expectations (CSCE) to understand households’ expectations about price and wage inflation, how those expectations link to views about labour market conditions and the subsequent impact on households’ outlook for real spending growth.2022-07-22T12:45:13+00:00enHow Do People View Price and Wage Inflation?2022-07-22Inflation and pricesMonetary policy communicationsStaff Working Paper 2022-34https://www.bankofcanada.ca/wp-content/uploads/2022/07/swp2022-34.pdfStaff Working Paper 2022-34Monica JainOlena KostyshynaXu ZhangJuly 2022CC8C83DD8D84EE2E21E24E3E31A Horse Race of Monetary Policy Regimes: An Experimental Investigation
https://www.bankofcanada.ca/2022/07/staff-working-paper-2022-33/
How should central banks design monetary policy in stable times and during recessions? We run a horse race between five monetary policy frameworks in an experimental laboratory to assess how well the different approaches can manage the public’s expectations and stabilize the economy.2022-07-15T10:06:31+00:00enA Horse Race of Monetary Policy Regimes: An Experimental Investigation2022-07-15Inflation targetsMonetary policyMonetary policy communicationsMonetary policy frameworkStaff Working Paper 2022-33https://www.bankofcanada.ca/wp-content/uploads/2022/07/swp2022-33.pdfStaff Working Paper 2022-33Olena KostyshynaLuba PetersenJing YangJuly 2022CC9DD8D84EE5E52E58The Financial Origins of Non-fundamental Risk
https://www.bankofcanada.ca/2022/01/staff-working-paper-2022-4/
We explore the idea that the financial sector can be a source of non-fundamental risk to the rest of the economy. We also consider whether policy can be used to reduce this risk—either by increasing the supply of publicly backed safe assets or by reducing the demand for safe assets.2022-01-14T14:32:08+00:00enThe Financial Origins of Non-fundamental Risk2022-01-14Asset pricingFinancial marketsFinancial stabilityStaff Working Paper 2022-4https://www.bankofcanada.ca/wp-content/uploads/2022/01/swp2022-4.pdfStaff Working Paper 2022-4Sushant AcharyaKeshav DograSanjay SinghJanuary 2022DD5D52D8D84EE6E62GG1G10G12