Posts
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Business Cycle Effects of Credit Shocks in a DSGE Model with Firm Defaults
This paper proposes a theoretical framework to analyze the relationship between credit shocks, firm defaults and volatility, and to study the impact of credit shocks on business cycle dynamics. -
Finance Constraints and Inventory Investment: Empirical Tests with Panel Data
The author empirically tests two aspects of the interaction between financial variables and inventory investment: negative cash flow and finance constraints due to asymmetric information. -
Short-Term Forecasting of the Japanese Economy Using Factor Models
While the usefulness of factor models has been acknowledged over recent years, little attention has been devoted to the forecasting power of these models for the Japanese economy. In this paper, we aim at assessing the relative performance of factor models over different samples, including the recent financial crisis. -
January 16, 2007
Monetary Policy Report Update – January 2007
The global economy has continued to expand robustly. However, U.S. economic growth slowed in 2006, with the weakness concentrated in the automotive and housing sectors. -
Heterogeneous Returns to U.S. College Selectivity and the Value of Graduate Degree Attainment
Existing studies on the returns to college selectivity have mixed results, mainly due to the difficulty of controlling for selection into more-selective colleges based on unobserved ability. -
July 17, 2003
Release of the Monetary Policy Report Update
Today, we released our Update to the April Monetary Policy Report. The Update reviews economic and financial trends in the context of Canada's inflation-control strategy. -
Identifying Asymmetric Comovements of International Stock Market Returns
Based on a new approach for measuring the comovements between stock market returns, we provide a nonparametric test for asymmetric comovements in the sense that stock market downturns will lead to stronger comovements than market upturns. -
August 25, 2018
The Fourth Industrial Revolution and Central Banking
Governor Poloz talks about the economic benefits expected from disruptive digital technologies and the implications for monetary policy. -
January 7, 2016
Expect policy divergence as economies adjust to shocks, Governor Poloz says
Diverging monetary policies are the natural consequence of large declines in resource prices and should be expected, Bank of Canada Governor Stephen S. Poloz said in a speech today at the Mayor’s Breakfast Series in Ottawa. Last month’s interest rate increase by the U.S. Federal Reserve is the first step in a long process toward […]