ElasticSearch Score: 5.641759
How do banks' interconnections in the euro area contribute to the vulnerability of the banking system? We study both the direct interconnections (banks lend to each other) and the indirect interconnections (banks are exposed to similar sectors of the economy). These complex linkages make the banking system more vulnerable to contagion risks.
ElasticSearch Score: 5.6249924
April 26, 2007
Growth in the Canadian economy has been essentially in line with the expectations set out in the Bank’s January Monetary Policy Report Update.
ElasticSearch Score: 5.569061
The COVID-19 pandemic has caused an atypical recession in which some sectors of the economy boomed and others collapsed. This required a unique fiscal policy reaction to both support firms and stimulate activity in sectors with slack. Was fiscal policy able to get where it was needed? Mostly, yes.
ElasticSearch Score: 5.475554
Exporters frequently change their market destinations. This paper introduces a new approach to identifying the drivers of these decisions over time. Analysis of customs data from China and the UK shows most changes are driven by demand rather than supply-related shocks.
ElasticSearch Score: 5.429045
This paper studies the implications of model uncertainty for wealth distribution in a tractable general equilibrium model with a borrowing constraint and robustness à la Hansen and Sargent (2008). Households confront model uncertainty about the process driving the return of the risky asset, and they choose robust policies.
ElasticSearch Score: 5.415621
October 21, 2004
The Canadian economy continues to adjust to major global developments.
ElasticSearch Score: 5.342153
November 9, 2000
Over the last six months, most countries have continued to register strong economic growth.
ElasticSearch Score: 5.3230243
November 20, 1995
This is the second in a series of semi-annual reports designed to increase the transparency and understanding of Canadian monetary policy.
ElasticSearch Score: 4.986952
October 23, 2002
Over the past year, Canada’s economy has outperformed the economies of virtually all the other major industrial countries.
ElasticSearch Score: 4.97615
This equilibrium model explains the trend in long-term yields and business-cycle movements in short-term yields and yield spreads. The less-frequent inverted yield curves (and less-frequent recessions) after the 1990s are due to recent secular stagnation and procyclical inflation expectations.