Uncategorized

• A Wake-Up-Call Theory of Contagion

  Staff Working Paper 2015-14 Christoph Bertsch, Toni Ahnert

  We propose a novel theory of financial contagion. We study global coordination games of regime change in two regions with an initially uncertain correlation of regional fundamentals.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Exchange rates, Financial stability, International financial markets JEL Code(s): D, D8, D82, F, F3, G, G0, G01

• Euro Area Government Bonds—Integration and Fragmentation During the Sovereign Debt Crisis

  Staff Working Paper 2015-13 Michael Ehrmann, Marcel Fratzscher

  The paper analyzes the integration of euro area sovereign bond markets during the European sovereign debt crisis. It tests for contagion (i.e., an intensification in the transmission of shocks across countries), fragmentation (a reduction in spillovers) and flight-to-quality patterns, exploiting the heteroskedasticity of intraday changes in bond yields for identification.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Asset pricing, Financial markets, Interest rates, International financial markets JEL Code(s): E, E5, F, F3, G, G1, G15
• April 17, 2015

  Weekly Financial Statistics - 17 April 2015

  Content Type(s): Publications, Historical: Weekly Financial Statistics
• April 15, 2015

  Release of the Monetary Policy Report

  Opening statement Stephen S. Poloz Ottawa, Ontario

  Press conference following the release of the Monetary Policy Report.

  Content Type(s): Press, Speeches and appearances, Opening statements Research Topic(s): Inflation and prices, Interest rates, Labour markets, Monetary policy, Monetary policy implementation, Recent economic and financial developments
• April 15, 2015

  Bank of Canada maintains overnight rate target at 3/4 per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is maintaining its target for the overnight rate at 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent.

  Content Type(s): Press, Press releases
• April 15, 2015

  Monetary Policy Report – April 2015

  

  Real GDP in Canada is expected to grow by 1.9 per cent in 2015 and 2.5 per cent in 2016 and by 2.0 per cent in 2017.

  Content Type(s): Publications, Monetary Policy Report
• April 10, 2015

  Weekly Financial Statistics - 10 April 2015

  Content Type(s): Publications, Historical: Weekly Financial Statistics
• April 6, 2015

  Backgrounder on the Question in the Business Outlook Survey Concerning the Intensity of Labour Shortages

  Starting with the 2015 spring survey, the results from a question on the intensity of labour shortages are being included in the Business Outlook Survey (BOS). This backgrounder briefly describes the question and presents the correlations between the responses and various measures of pressures on production capacity and labour market conditions.

  Content Type(s): Background materials
• April 6, 2015

  Weekly Financial Statistics - 6 April 2015

  Content Type(s): Publications, Historical: Weekly Financial Statistics
• April 6, 2015

  Business Outlook Survey - Spring 2015

  In the spring Business Outlook Survey, lower oil prices continue to dampen the overall sales outlook of firms, weighing on investment and hiring intentions. However, a majority of businesses are benefiting from the strong economic outlook in the United States and the boost in competitiveness from the weaker Canadian dollar.

  Content Type(s): Publications, Business Outlook Survey