Michael Boutros - Latest - Bank of Canada
https://www.bankofcanada.ca/rss-feeds/
Bank of Canada RSS Feedsen2024-03-29T07:35:25+00:00Borrow Now, Pay Even Later: A Quantitative Analysis of Student Debt Payment Plans
https://www.bankofcanada.ca/2023/10/staff-working-paper-2023-54/
We investigate alternative student debt contracts that defer payments and ease the burden of student loans on US households by preserving disposable income early in borrowers’ lives. Our model shows substantial welfare gains from these contracts relative to existing plans and gains similar to the Biden administration's proposals but with a significantly lower cost.2023-10-27T08:59:08+00:00enBorrow Now, Pay Even Later: A Quantitative Analysis of Student Debt Payment Plans2023-10-27Asset pricingEconomic modelsFinancial marketsLabour marketsMarket structure and pricingStaff Working Paper 2023-54https://www.bankofcanada.ca/wp-content/uploads/2023/10/swp2023-54.pdfBorrow Now, Pay Even Later: A Quantitative Analysis of Student Debt Payment PlansMichael BoutrosNuno ClaraFrancisco GomesOctober 2023EE2GG5HH3Windfall Income Shocks with Finite Planning Horizons
https://www.bankofcanada.ca/2022/09/staff-working-paper-2022-40/
How do households respond when they receive unanticipated income, such as an inheritance or government stimulus cheque? This paper studies these windfall income shocks through a model of household behaviour that generates a realistic consumption response for households along the entire distribution of wealth.2022-09-20T08:47:42+00:00enWindfall Income Shocks with Finite Planning Horizons2022-09-20Domestic demand and componentsEconomic modelsFiscal policyStaff Working Paper 2022-40https://www.bankofcanada.ca/wp-content/uploads/2022/09/swp2022-40.pdfWindfall Income Shocks with Finite Planning HorizonsMichael BoutrosSeptember 2022DD9D91EE2E21GG5G51Monetary Policy Implementation in a Negative Rate Environment
https://www.bankofcanada.ca/2017/07/staff-working-paper-2017-25/
Monetary policy implementation could, in theory, be constrained by deeply negative rates since overnight market participants may have an incentive to invest in cash rather than lend to other participants.2017-07-13T11:10:32+00:00enMonetary Policy Implementation in a Negative Rate Environment2017-07-13Interest ratesMonetary policy frameworkMonetary policy implementationStaff Working Paper 2017-25https://www.bankofcanada.ca/wp-content/uploads/2017/07/swp2017-25.pdfMonetary Policy Implementation in a Negative Rate EnvironmentMichael BoutrosJonathan WitmerJuly 2017EE4E40E42E43GG0