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2343
result(s)
The U.S.-Dollar Supranational Zero-Coupon Curve
Staff Discussion Paper 2012-5
Francisco Rivadeneyra
The author describes the construction of the U.S.-dollar-denominated zero-coupon curve for the supranational asset class from 1995 to 2010. He uses yield data from a crosssection of bonds issued by AAA-rated supranational entities to fit the Svensson (1995) term-structure model.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Asset pricing,
Financial markets
JEL Code(s):
G,
G1,
G12,
G15
Estimating the Demand for Settlement Balances in the Canadian Large Value Transfer System
Staff Working Paper 2012-15
Nellie Zhang
This paper applies a static model of an interest rate corridor to the Canadian data, and estimates the aggregate demand for central-bank settlement balances in the Large Value Transfer System (LVTS).
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Interest rates,
Monetary policy implementation,
Payment clearing and settlement systems
JEL Code(s):
C,
C3,
C36,
E,
E4,
E40,
E5,
E50,
G,
G0,
G01
May 17, 2012
On the Adjustment of the Global Economy
Bank of Canada Review - Spring 2012
Carlos De Resende,
Claudia Godbout,
René Lalonde,
Eric Morin,
Nikita Perevalov
This article discusses three scenarios for the adjustment of the global economy. In a “baseline” scenario—which encompasses fiscal consolidation in major advanced economies, growth-friendly structural reforms in Europe and Japan, and greater exchange rate flexibility and reforms in the emerging-market economies of Asia to induce rotation of demand away from net exports—global current account imbalances […]
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Balance of payments and components,
Exchange rates,
Fiscal policy,
International topics,
Recent economic and financial developments
JEL Code(s):
F,
F3,
F32,
F37,
F4,
F42
May 17, 2012
Inflation Targeting: The Recent International Experience
In the years since the 2006 renewal of Canada’s inflation-control agreement, monetary policy regimes have faced significant shocks, including the global economic and financial crisis. This article reviews the recent experience with inflation targeting, including the debate about the appropriate role of monetary policy in maintaining financial stability. In the aftermath of the crisis, both […]
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Credibility,
Financial stability,
Inflation targets,
Monetary policy framework
JEL Code(s):
E,
E3,
E31,
E5,
E52,
E58
May 17, 2012
Understanding Systemic Risk in the Banking Sector: A MacroFinancial Risk Assessment Framework
The MacroFinancial Risk Assessment Framework (MFRAF) models the interconnections between liquidity and solvency in a financial system, with multiple institutions linked through an interbank network. The MFRAF integrates funding liquidity risk as an endogenous outcome of the interactions between solvency risk and the liquidity profiles of banks, which is a complementary approach to the new […]
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Financial stability,
Financial system regulation and policies
JEL Code(s):
E,
E4,
E44,
G,
G0,
G01,
G2,
G21
May 17, 2012
Conference Summary: New Developments in Payments and Settlement
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 […]
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Bank notes,
Central bank research,
Financial system regulation and policies,
Monetary policy implementation,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E42,
G,
G2,
G28,
L,
L8,
L81
The Impact of Retail Payment Innovations on Cash Usage
Staff Working Paper 2012-14
Ben Fung,
Kim Huynh,
Leonard Sabetti
Many predict that innovations in retail payment may render cash obsolete. We investigate this possibility in the context of recent payment innovations such as contactless-credit and stored-value cards.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Financial services,
Payment clearing and settlement systems
JEL Code(s):
C,
C3,
C35,
C8,
C83,
E,
E4,
E41
Changes in the Effects of Monetary Policy on Disaggregate Price Dynamics
Staff Working Paper 2012-13
Christiane Baumeister,
Philip Liu,
Haroon Mumtaz
We examine the evolution of the effects of monetary policy shocks on the distribution of disaggregate prices and quantities of personal consumption expenditures to assess the contribution of monetary policy to changes in U.S. inflation dynamics.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Monetary policy transmission
JEL Code(s):
E,
E3,
E30,
E32