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Staff Working Papers

High-Frequency Real Economic Activity Indicator for Canada

Staff Working Paper 2013-42 Gitanjali Kumar
I construct a weekly measure of real economic activity in Canada. Based on the work of Aruoba et al. (2009), the indicator is extracted as an unobserved component underlying the co-movement of four monthly observed real macroeconomic variables - employment, manufacturing sales, retail sales and GDP.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Business fluctuations and cycles, Econometric and statistical methods JEL Code(s): C, C3, C38, E, E3, E32

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Bank Publications

Financial System Review Article

December 15, 2016

Monitoring Shadow Banking in Canada: A Hybrid Approach

Financial System Review - December 2016 Bo Young Chang, Gitanjali Kumar, André Usche, Michael Januska

In Monitoring Shadow Banking in Canada: A Hybrid Approach, Bo Young Chang, Michael Januska, Gitanjali Kumar and André Usche discuss how lending that occurs outside the traditional banking system provides benefits to the economy but must be monitored carefully for potential financial sector vulnerabilities. They describe how the Bank defines and measures shadow banking and how it assesses vulnerabilities in the sector, using an approach that examines both markets and entities.
Content Type(s): Publications, Financial System Review Article Topic(s): Financial institutions, Financial markets, Financial stability JEL Code(s): G, G0, G01, G2, G23
June 11, 2015

Assessing Vulnerabilities in the Canadian Financial System

Financial System Review - June 2015 Ian Christensen, Gitanjali Kumar, Césaire Meh, Lorie Zorn
The authors present the four common cyclical vulnerabilities that appear in financial systems, providing examples of qualitative and quantitative indicators used to monitor these vulnerabilities across different sectors. They also discuss other inputs to the vulnerability assessment and to the internal process used at the Bank of Canada for identifying, evaluating and communicating vulnerabilities and risks, and highlight some of the key challenges in assessing financial system vulnerabilities and risks.
Content Type(s): Publications, Financial System Review Article Topic(s): Financial stability JEL Code(s): G, G0, G01, G1, G10, G2, G20

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Journal Publications

Journal articles

Other research

  • “Re-evaluating the impact of the Reagan tax cuts”, 2010
  • “News shocks and international business cycles”, 2010