Uncategorized

• May 6, 2019

  Poloz talks mortgages: Innovation could improve flexibility

  Speech summary Stephen S. Poloz Canadian Credit Union Association and the Winnipeg Chamber of Commerce Winnipeg, Manitoba

  Stephen S. Poloz, Governor of the Bank of Canada, speaks before the Canadian Credit Union Association and the Winnipeg Chamber of Commerce.

  Content Type(s): Press, Speeches and appearances, Speech summaries Research Topic(s): Financial services, Financial stability, Housing, Recent economic and financial developments, Trade integration
• May 6, 2019

  Canada’s mortgage market should evolve to offer more choice with less risk, Bank of Canada Governor Poloz says

  Media Relations Winnipeg, Manitoba

  Canada’s mortgage market should evolve in a way that gives Canadians more choice and helps the economy be more flexible, while lowering the level of risk in the system, Bank of Canada Governor Stephen S. Poloz said today.

  Content Type(s): Press, Press releases

• Estimating the Effect of Exchange Rate Changes on Total Exports

  Staff Working Paper 2019-17 Thierry Mayer, Walter Steingress

  This paper shows that real effective exchange rate (REER) regressions, the standard approach for estimating the response of aggregate exports to exchange rate changes, imply biased estimates of the underlying elasticities. We provide a new aggregate regression specification that is consistent with bilateral trade flows micro-founded by the gravity equation.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Exchange rates, International topics JEL Code(s): F, F1, F11, F12, F3, F31, F32

• Assessing Global Potential Output Growth: April 2019

  Staff Analytical Note 2019-13 Fares Bounajm, Jean-Philippe Cayen, Michael Francis, Christopher Hajzler, Kristina Hess, Guillaume Poulin-Bellisle, Peter Selcuk

  This note presents the updated estimates of potential output growth for the global economy through 2021. Global potential output is expected to grow by 3.3 per cent per year over the projection horizon.

  Content Type(s): Staff research, Staff analytical notes Research Topic(s): International topics, Potential output, Productivity JEL Code(s): E, E1, E10, E2, E20, O, O4

• Composite Likelihood Estimation of an Autoregressive Panel Probit Model with Random Effects

  Staff Working Paper 2019-16 Kerem Tuzcuoglu

  Modeling and estimating persistent discrete data can be challenging. In this paper, we use an autoregressive panel probit model where the autocorrelation in the discrete variable is driven by the autocorrelation in the latent variable. In such a non-linear model, the autocorrelation in an unobserved variable results in an intractable likelihood containing high-dimensional integrals.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Credit risk management, Econometric and statistical methods, Economic models JEL Code(s): C, C2, C23, C25, C5, C58, G, G2, G24
• May 2, 2019

  CARR Meeting (May 2, 2019)

  Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group
• May 2, 2019

  Central Banks of Canada and Singapore conduct successful experiment for cross-border payments using Distributed Ledger Technology

  This joint press release highlights the findings of the Jasper-Ubin experiment on cross-border, cross-currency payments using distributed ledger technology (DLT).

  Content Type(s): Press, Press releases Research Topic(s): Digital currencies and fintech
• May 1, 2019

  Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce

  Opening statement Stephen S. Poloz Standing Senate Committee on Banking, Trade and Commerce Ottawa, Ontario

  Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce.

  Content Type(s): Press, Speeches and appearances, Opening statements Research Topic(s): Inflation and prices, Monetary policy, Monetary policy transmission, Recent economic and financial developments
• April 30, 2019

  Research Update - April 2019

  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.

  Content Type(s): Staff research, Research newsletters
• April 30, 2019

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening statement Stephen S. Poloz House of Commons Standing Committee on Finance Ottawa, Ontario

  Good morning, Mr. Chairman and committee members. Once again, Senior Deputy Governor Wilkins and I are pleased to be with you to talk about the Bank’s Monetary Policy Report (MPR), which we published last week. Six months ago, when we last appeared before this committee, we talked about some very positive developments. The Canadian economy […]

  Content Type(s): Press, Speeches and appearances, Opening statements Research Topic(s): Inflation and prices, Monetary policy, Monetary policy transmission, Recent economic and financial developments