Jing Yang - Latest

• Alternative Scenario to the October 2017 MPR Base-Case Projection: Higher Potential Growth

  Staff Analytical Note 2017-18 Jing Yang, Ben Tomlin, Olivier Gervais

  We construct an alternative scenario in which trend labour input and business investment are stronger than that expected in the Bank of Canada’s base-case projection in the October 2017 Monetary Policy Report.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Inflation and prices, Monetary policy, Potential output JEL Code(s): E, E2, E22, E24, E27, E5

• Estimating Canada’s Effective Lower Bound

  Staff Analytical Note 2015-2 Jonathan Witmer, Jing Yang

  In 2009, the Bank of Canada set its effective lower bound (ELB) at 25 basis points (bps). Given the recent experience of Sweden, Denmark, Switzerland and the euro area with negative interest rates, we examine the economics of negative interest rates and suggest that cash storage costs are the source of a negative lower bound on interest rates.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Central bank research, Monetary policy framework, Monetary policy implementation JEL Code(s): D, D5, D53, E, E4, E41, E43, E5, E58