E43 - Interest Rates: Determination, Term Structure, and Effects - Bank of Canada
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2024-03-29T05:39:42+00:00
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Monetary Policy, Credit Constraints and SME Employment
https://www.bankofcanada.ca/2022/12/staff-working-paper-2022-49/
We revisit an old question: how do financial constraints affect the transmission of monetary policy to the real economy? To answer this question, we propose a simple empirical strategy that combines firm-level employment and balance sheet data, identified monetary policy shocks and survey data on financing activities.
2022-12-09T13:01:12+00:00
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Monetary Policy, Credit Constraints and SME Employment
2022-12-09
Credit and credit aggregates
Econometric and statistical methods
Firm dynamics
Labour markets
Monetary policy
Staff Working Paper 2022-49
https://www.bankofcanada.ca/wp-content/uploads/2022/12/swp2022-49.pdf
Monetary Policy, Credit Constraints and SME Employment
Julien Champagne
Émilien Gouin-Bonenfant
December 2022
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E43
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E52
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G3
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Expectation-Driven Term Structure of Equity and Bond Yields
https://www.bankofcanada.ca/2022/05/staff-working-paper-2022-21/
Recent findings on the term structure of equity and bond yields pose serious challenges to existing models of equilibrium asset pricing. This paper presents a new equilibrium model of subjective expectations to explain the joint historical dynamics of equity and bond yields (and their yield spreads).
2022-05-11T15:27:58+00:00
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Expectation-Driven Term Structure of Equity and Bond Yields
2022-05-11
Asset pricing
Financial markets
Interest rates
Staff Working Paper 2022-21
https://www.bankofcanada.ca/wp-content/uploads/2022/05/swp2022-21.pdf
Ming Zeng
Guihai Zhao
May 2022
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E4
E43
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G12
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Real Exchange Rate Decompositions
https://www.bankofcanada.ca/2022/03/staff-discussion-paper-2022-6/
We break down the exchange rate based on an explicit link between fixed income and currency markets. We isolate a foreign exchange risk premium and show it is the main driver of the exchange rate between the Canadian and US dollars, especially on monetary policy and macroeconomic news announcement days.
2022-03-22T09:18:33+00:00
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Real Exchange Rate Decompositions
2022-03-22
Asset pricing
Exchange rates
International financial markets
Monetary policy transmission
Staff Discussion Paper 2022-6
https://www.bankofcanada.ca/wp-content/uploads/2022/03/sdp2022-6.pdf
Staff Discussion Paper 2022-6
Bruno Feunou
Jean-Sébastien Fontaine
Ingomar Krohn
March 2022
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E43
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G12