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269
result(s)
A Three‐Frequency Dynamic Factor Model for Nowcasting Canadian Provincial GDP Growth
Staff Discussion Paper 2017-8
Tony Chernis,
Gabriella Velasco,
Calista Cheung
This paper estimates a three‐frequency dynamic factor model for nowcasting Canadian provincial gross domestic product (GDP). Canadian provincial GDP is released by Statistics Canada on an annual basis only, with a significant lag (11 months).
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Business fluctuations and cycles,
Econometric and statistical methods,
Regional economic developments
JEL Code(s):
C,
C5,
C53,
E,
E3,
E32,
E37,
R,
R1,
R11
Methodology for Assigning Credit Ratings to Sovereigns
Staff Discussion Paper 2017-7
Philippe Muller,
Jérôme Bourque
The investment of foreign exchange reserves or other asset portfolios requires an assessment of the credit quality of investment counterparties. Traditionally, foreign exchange reserve and asset managers have relied on credit rating agencies (CRAs) as the main source for credit assessments.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Credit risk management,
Foreign reserves management
JEL Code(s):
F,
F3,
F31,
G,
G2,
G24,
G28,
G3,
G32
Multilateral Development Bank Credit Rating Methodology: Overcoming the Challenges in Assessing Relative Credit Risk in Highly Rated Institutions Based on Public Data
Staff Discussion Paper 2017-6
David Xiao Chen,
Philippe Muller,
Hawa Wagué
The investment of foreign exchange reserves or other asset portfolios requires an assessment of the credit quality of counterparties. Traditionally, foreign exchange reserve managers and other investors have relied on credit rating agencies (CRAs) as the main source for credit assessments.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Credit risk management,
Foreign reserves management
JEL Code(s):
F,
F3,
F31,
G,
G2,
G24,
G28,
G3,
G32
Assessing the Business Outlook Survey Indicator Using Real-Time Data
Staff Discussion Paper 2017-5
Lise Pichette,
Marie-Noëlle Robitaille
Every quarter, the Bank of Canada conducts quarterly consultations with businesses across Canada, referred to as the Business Outlook Survey (BOS). A principal-component analysis conducted by Pichette and Rennison (2011) led to the development of the BOS indicator, which summarizes survey results and is used by the Bank as a gauge of overall business sentiment.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Business fluctuations and cycles,
Regional economic developments
JEL Code(s):
C,
C5,
C53,
C8,
C82,
E,
E3,
E37
The Costs of Point-of-Sale Payments in Canada
Staff Discussion Paper 2017-4
Anneke Kosse,
Heng Chen,
Marie-Hélène Felt,
Valéry Dongmo Jiongo,
Kerry Nield,
Angelika Welte
Using data from our 2014 cost-of-payments survey, we calculate resource costs for cash, debit cards and credit cards. For each payment method, we examine the total cost incurred by consumers, retailers, financial institutions and infrastructures, the Royal Canadian Mint and the Bank of Canada.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Bank notes,
Digital currencies and fintech,
Financial institutions,
Payment clearing and settlement systems
JEL Code(s):
D,
D1,
D12,
D2,
D23,
D24,
E,
E4,
E41,
E42,
G,
G2,
G21,
L,
L2
Repo Market Functioning when the Interest Rate Is Low or Negative
Staff Discussion Paper 2017-3
Jean-Sébastien Fontaine,
James Hately,
Adrian Walton
This paper investigates how a low or negative overnight interest rate might affect the Canadian repo markets. The main conclusion is that the repo market for general collateral will continue to function effectively.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Financial markets,
Interest rates,
Market structure and pricing
JEL Code(s):
D,
D4,
G,
G1,
G10,
G12
Global Real Activity for Canadian Exports: GRACE
Staff Discussion Paper 2017-2
André Binette,
Tony Chernis,
Daniel de Munnik
Canadian exports have often disappointed since the Great Recession. The apparent disconnect between exports and the Bank of Canada’s current measure of foreign demand has created an impetus to search for an alternative.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Balance of payments and components,
Econometric and statistical methods,
Exchange rates
JEL Code(s):
F,
F1,
F10,
F14,
F4,
F43
An Improved Equation for Predicting Canadian Non-Commodity Exports
Staff Discussion Paper 2017-1
Patrick Alexander,
Jean-Philippe Cayen,
Alex Proulx
We estimate two new equations for Canadian non-commodity exports (NCX) that incorporate three important changes relative to the current equation used at the Bank of Canada.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Balance of payments and components,
Exchange rates,
International topics
JEL Code(s):
F,
F1,
F10,
F14,
F17
Central Bank Digital Currencies: A Framework for Assessing Why and How
Staff Discussion Paper 2016-22
Ben Fung,
Hanna Halaburda
Digital currencies have attracted strong interest in recent years and have the potential to become widely adopted for use in making payments. Public authorities and central banks around the world are closely monitoring developments in digital currencies and studying their implications for the economy, the financial system and central banks.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Digital currencies and fintech,
Financial services,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E41,
E42