Miguel Molico - Bank Publications - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T13:49:41+00:00Flood risk and residential lending
https://www.bankofcanada.ca/2024/01/flood-risk-and-residential-lending/
We present key findings of a recent study that evaluates the credit risk that flooding poses to the residential lending activities of Canadian banks and credit unions. Results show that such risk currently appears modest but could become larger with climate change.2024-01-15T15:00:26+00:00enFlood risk and residential lending2024-01-15Climate-Related Flood Risk to Residential Lending Portfolios in Canada
https://www.bankofcanada.ca/2023/12/staff-discussion-paper-2023-33/
We assess the potential financial risks of current and projected flooding caused by extreme weather events in Canada. We focus on the residential real estate secured lending (RESL) portfolios of Canadian financial institutions (FIs) because RESL portfolios are an important component of FIs’ balance sheets and because the assets used to secure such loans are immobile and susceptible to climate-related extreme weather events.2023-12-20T15:56:24+00:00enClimate-Related Flood Risk to Residential Lending Portfolios in Canada2023-12-20Central bank researchClimate changeCredit risk managementEconometric and statistical methodsFinancial institutionsFinancial stabilityStaff Discussion Paper 2023-33https://www.bankofcanada.ca/wp-content/uploads/2023/12/sdp2023-33.pdfClimate-Related Flood Risk to Residential Lending Portfolios in CanadaCraig JohnstonGeneviève ValléeHossein HosseiniBrett LindsayMiguel MolicoMarie-Christine TremblayAidan WittsDecember 2023CC8C81GG2G21QQ5Q54Assessing Climate-Related Financial Risk: Guide to Implementation of Methods
https://www.bankofcanada.ca/2022/01/technical-report-120/
A pilot project on climate transition scenarios by the Bank of Canada and the Office of the Superintendent of Financial Institutions assessed climate-related credit and market risks. This report describes the project’s methodologies and provides guidance on implementing them.2022-01-14T12:00:37+00:00enAssessing Climate-Related Financial Risk: Guide to Implementation of Methods2022-01-14Climate changeCredit and credit aggregatesEconometric and statistical methodsFinancial stabilityTechnical Report 2022-120https://www.bankofcanada.ca/wp-content/uploads/2021/11/tr120.pdfHossein HosseiniCraig JohnstonCraig LoganMiguel MolicoXiangjin ShenMarie-Christine TremblayJanuary 2022CC5C53C8C83GG1G3G32Transition Scenarios for Analyzing Climate-Related Financial Risk
https://www.bankofcanada.ca/2022/01/staff-discussion-paper-2022-1/
Climate transition scenarios clarify climate-related risks to our economy and financial system. This paper summarizes key results of Canada-relevant scenarios developed in a pilot project on climate risk by the Bank of Canada and the Office of the Superintendent of Financial Institutions.2022-01-13T14:04:27+00:00enTransition Scenarios for Analyzing Climate-Related Financial Risk2022-01-13Climate changeEconomic modelsFinancial stabilityInternational topicsStaff Discussion Paper 2022-1https://www.bankofcanada.ca/wp-content/uploads/2021/11/sdp2022-1.pdfY.-H. Henry ChenErik EnsOlivier GervaisHossein HosseiniCraig JohnstonSerdar KabacaMiguel MolicoSergey PaltsevAlex ProulxArgyn ToktamyssovJanuary 2022CC6C68DD5D58EE5E50OO4O44PP1P18QQ5Q54Short-Run Dynamics in a Search-Theoretic Model of Monetary Exchange
https://www.bankofcanada.ca/2020/11/staff-working-paper-2020-48/
We study the short-run effects of monetary policy using a search-theoretic monetary model in which agents are subject to idiosyncratic shocks and aggregate monetary shocks.2020-11-18T15:23:16+00:00enShort-Run Dynamics in a Search-Theoretic Model of Monetary Exchange2020-11-18Inflation and pricesMonetary policyMonetary policy transmissionStaff Working Paper 2020-48https://www.bankofcanada.ca/wp-content/uploads/2020/11/swp2020-48.pdfStaff Working Paper 2020-48Jonathan ChiuMiguel MolicoNovember 2020EE4E40E5E50Researching the Economic Impacts of Climate Change
https://www.bankofcanada.ca/2019/11/researching-economic-impacts-climate-change/
The Bank of Canada has a mandate to “promote the economic and financial welfare of Canada,” primarily through the conduct of monetary policy and promotion of a safe, sound and efficient financial system. Understanding the macroeconomic and financial system impacts of climate change and the transition to a low-carbon economy is therefore a priority for the Bank.2019-11-19T10:25:00+00:00frResearching the Economic Impacts of Climate Change2019-11-19Climate changeMiguel Molico 2019On the Nexus of Monetary Policy and Financial Stability: Effectiveness of Macroprudential Tools in Building Resilience and Mitigating Financial Imbalances
https://www.bankofcanada.ca/2016/05/staff-discussion-paper-2016-11/
This paper reviews the Canadian and international evidence of the effectiveness of macroprudential policy measures in building resilience and mitigating financial imbalances. The analysis concludes that these measures have broadly achieved their goal of increasing the overall resilience of the financial system to the buildup of imbalances and increasing the financial system’s ability to withstand adverse shocks.2016-05-27T14:16:56+00:00enOn the Nexus of Monetary Policy and Financial Stability: Effectiveness of Macroprudential Tools in Building Resilience and Mitigating Financial Imbalances2016-05-27Credit and credit aggregatesFinancial stabilityFinancial system regulation and policiesStaff Discussion Paper 2016-11https://www.bankofcanada.ca/wp-content/uploads/2016/05/sdp2016-11.pdfOn the Nexus of Monetary Policy and Financial Stability: Effectiveness of Macroprudential Tools in Building Resilience and Mitigating Financial ImbalancesH. Evren DamarMiguel MolicoMay 2016EE5E51E58GG1G18G2G28On the Nexus of Monetary Policy and Financial Stability: Recent Developments and Research
https://www.bankofcanada.ca/2015/09/discussion-paper-2015-7/
Because financial and macroeconomic conditions are tightly interconnected, financial stability considerations are an important element of any monetary policy framework. Yet, the circumstances under which it would be appropriate for the Bank to use monetary policy to lean against financial risks need to be more fully specified (Côté 2014).2015-09-28T15:24:52+00:00enOn the Nexus of Monetary Policy and Financial Stability: Recent Developments and Research2015-09-28Financial stabilityMonetary policy frameworkDiscussion Paper 2015-7 https://www.bankofcanada.ca/wp-content/uploads/2015/09/dp2015-7.pdfOn the Nexus of Monetary Policy and Financial Stability: Recent Developments and ResearchOleksiy KryvtsovMiguel MolicoBen TomlinSeptember 2015EE0E4E44E5E52E58GG1G18Electronic Money and Payments: Recent Developments and Issues
https://www.bankofcanada.ca/2014/04/discussion-paper-2014-2/
The authors review recent developments in retail payments in Canada and elsewhere, with a focus on e-money products, and assess their potential public policy implications.2014-04-28T10:39:03+00:00enElectronic Money and Payments: Recent Developments and Issues2014-04-28Bank notesDigital currencies and fintechFinancial servicesPayment clearing and settlement systemsDiscussion Paper 2014-2 https://www.bankofcanada.ca/wp-content/uploads/2014/04/dp2014-2.pdfElectronic Money and Payments: Recent Developments and IssuesBen FungMiguel MolicoGerald StuberApril 2014EE4E41E42Conference Summary: New Developments in Payments and Settlement
https://www.bankofcanada.ca/wp-content/uploads/2012/05/boc-review-spring12-fung.pdf
The Bank of Canada’s annual conference, held in November 2011, brought together leading researchers from universities, central banks and other institutions from around the world. Divided into four sessions plus two keynote addresses, the conference covered such topics as the use of cash and other means of payment in retail transactions, large-value payments systems, and […]2012-05-17T10:20:34+00:00enConference Summary: New Developments in Payments and Settlement2012-05-17