Staff working papers
Financial System Review articles
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.
- "On the size distortion of tests after an overidentifying restrictions pretest",
(with Patrik Guggenberger), Journal of Applied Econometrics, forthcoming.
- “Re-evaluating the impact of the Reagan tax cuts”, 2010
- “News shocks and international business cycles”, 2010