Maxime Leboeuf - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T13:04:50+00:00Bridging Canadian Business Lending and Market-Based Risk Measures
https://www.bankofcanada.ca/2019/08/staff-analytical-note-2019-26/
Lending to business is central to economic growth because it supports investment by firms. Knowing how market participants view risk in the financial system can give the Bank of Canada information about future growth in business loans. In this note, we look at three market-based risk measures and find that sudden increases in the perception of risk in the Canadian banking system are associated with a weaker outlook for business loans and real gross domestic product.2019-08-19T10:58:40+00:00enBridging Canadian Business Lending and Market-Based Risk Measures2019-08-19The Bank of Canada’s Financial System Survey
https://www.bankofcanada.ca/wp-content/uploads/2018/06/fsr-june18-bedard-page.pdf
This report presents the details of a new semi-annual survey that will improve the Bank of Canada’s surveillance across the financial system and deepen efforts to engage with financial system participants. The survey collects expert opinions on the risks to and resilience of the Canadian financial system as well as on emerging trends and financial innovations. The report presents an overview of the survey and provides high-level results from the spring 2018 survey.2018-06-07T11:49:39+00:00enThe Bank of Canada’s Financial System Survey2018-06-07Is the Excess Bond Premium a Leading Indicator of Canadian Economic Activity?
https://www.bankofcanada.ca/2018/03/staff-analytical-note-2018-4/
This note investigates whether Canadian corporate spreads and the excess bond premium (EBP) lead Canadian economic activity. Indeed, we find that corporate spreads precede changes in real gross domestic product (GDP) in Canada over the subsequent year. The EBP accounts for most of this property. Further, an unanticipated increase in the Canadian EBP forecasts a deterioration of domestic macroeconomic conditions: a 10-basis-point increase results in a fall in both GDP and consumer price index (CPI) of 0.4 per cent and 0.1 per cent, respectively, over three years.2018-03-07T07:00:59+00:00enIs the Excess Bond Premium a Leading Indicator of Canadian Economic Activity?2018-03-07Can the Canadian International Investment Position Stabilize a Slowing Economy?
https://www.bankofcanada.ca/2017/10/staff-analytical-note-2017-14/
In this note, we find that valuation effects can act as an important stabilizer, strengthening Canada’s net external wealth when its economic outlook worsens relative to that of other countries.2017-10-17T11:27:28+00:00enCan the Canadian International Investment Position Stabilize a Slowing Economy?2017-10-17Canada’s International Investment Position: Benefits and Potential Vulnerabilities
https://www.bankofcanada.ca/wp-content/uploads/2017/06/fsr-june17-bruneau.pdf
While greater global financial integration is beneficial, the authors discuss how foreign capital inflows can also facilitate the buildup of domestic vulnerabilities and potentially lead to destabilizing reversals. Canada’s current international investment position is typical of advanced economies and will likely continue to act as an economic stabilizer. However, the growth and composition of Canada’s international investment position warrant continued monitoring.2017-06-08T10:30:50+00:00enCanada’s International Investment Position: Benefits and Potential Vulnerabilities2017-06-08What Explains the Recent Increase in Canadian Corporate Bond Spreads
https://www.bankofcanada.ca/2017/03/staff-analytical-note-2017-2/
The spread between the yield of a corporate bond and the yield of a similar Government of Canada bond reflects compensation for possible default by the issuing firm and compensation for additional risks beyond default.2017-03-31T07:52:45+00:00enWhat Explains the Recent Increase in Canadian Corporate Bond Spreads2017-03-31What Is Behind the Weakness in Global Investment?
https://www.bankofcanada.ca/2016/02/staff-discussion-paper-2016-5/
The recovery in private business investment globally remains extremely weak more than seven years after the financial crisis. This paper contributes to the ongoing policy debate on the factors behind this weakness by analyzing the role of growth prospects and uncertainty in explaining developments in non-residential private business investment in large advanced economies since the crisis.2016-02-08T12:33:39+00:00enWhat Is Behind the Weakness in Global Investment?2016-02-08Business fluctuations and cyclesCentral bank researchDomestic demand and componentsEconomic modelsInternational topicsMonetary policy and uncertaintyRecent economic and financial developmentsStaff Discussion Paper 2016-5https://www.bankofcanada.ca/wp-content/uploads/2016/02/sdp2016-5.pdfWhat Is Behind the Weakness in Global Investment?Maxime LeboeufRobert FayFebruary 2016CC2C23C3C33DD2D24D8D80D84EE2E22FF0F01GG3G31Forecasting Short-Term Real GDP Growth in the Euro Area and Japan Using Unrestricted MIDAS Regressions
https://www.bankofcanada.ca/2014/06/discussion-paper-2014-3/
In this paper, the authors develop a new tool to improve the short-term forecasting of real GDP growth in the euro area and Japan. This new tool, which uses unrestricted mixed-data sampling (U-MIDAS) regressions, allows an evaluation of the usefulness of a wide range of indicators in predicting short-term real GDP growth.2014-06-18T13:06:09+00:00enForecasting Short-Term Real GDP Growth in the Euro Area and Japan Using Unrestricted MIDAS Regressions2014-06-18Econometric and statistical methodsInternational topicsDiscussion Paper 2014-3https://www.bankofcanada.ca/wp-content/uploads/2014/06/dp2014-3.pdfForecasting Short-Term Real GDP Growth in the Euro Area and Japan Using Unrestricted MIDAS RegressionsMaxime LeboeufLouis MorelJune 2014CC5C50C53EE3E37E4E47