A Structural Model of the Global Oil Market Staff analytical note 2019-17 Reinhard Ellwanger This note presents a structural vector autoregressive (SVAR) model of the global oil market. The model identifies four types of shocks with different economic interpretations: oil supply shocks, oil-market-specific demand shocks, storage demand shocks and shocks to global economic growth. Content Type(s): Staff research, Staff analytical notes JEL Code(s): Q, Q4, Q41, Q43 Research Theme(s): Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures, Real economy and forecasting
June 23, 2005 On the Evolution of the Financial Safety Net Financial System Review - June 2005 Walter Engert Content Type(s): Publications, Financial System Review articles
April 24, 2002 Opening Statement before the House of Commons Standing Committee on Finance Opening statement David Dodge To counter that uncertainty and bolster consumer and business confidence, the Bank of Canada moved aggressively to provide monetary stimulus. Between last September and January 2002, we lowered interest rates by 200 basis points, bringing the total reduction since January 2001 to 375 basis points. Content Type(s): Press, Speeches and appearances, Opening statements
Public vs. Private Payment Platforms: Market Impacts and Optimal Policy Staff working paper 2026-10 Youming Liu, Francisco Rivadeneyra, Edona Reshidi We study the competition between a welfare-maximizing public payment platform (e.g., CBDC or fast payment system) and a profit-maximizing private platform in a two-sided market, deriving optimal public pricing and showing how network effects, fragmentation, and policy mandates like zero fees or cost recovery shape welfare, usage, and fee incidence. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D4, E, E4, E42, E5, E58 Research Theme(s): Money and payments, Digital assets and fintech, Payment and financial market infrastructures, Retail payments
February 3, 2026 Research themes: Structural challenges The world is constantly changing. Factors like trade conflicts, technological advances and climate change can challenge the very foundations of the economy. We study these developments to keep our economy strong and resilient.
October 9, 2020 Central banks and BIS publish first central bank digital currency (CBDC) report laying out key requirements Media Relations Ottawa, Ontario This joint press release announces the publication of a report identifying the foundational principles necessary for any publicly available central bank digital currencies to help central banks meet their public policy objectives. Content Type(s): Press, Press releases
Measuring Non-Financial Corporate Sector Vulnerabilities in Canada Staff analytical note 2019-15 Timothy Grieder, Claire Schaffter The ratio of non-financial corporate debt to gross domestic product in Canada has increased noticeably in recent years and is currently at an all-time high. In light of this development, we use a unique firm-level dataset to construct vulnerability indicators for the non-financial corporate sector in Canada. Content Type(s): Staff research, Staff analytical notes JEL Code(s): G, G0, G01, G3, G32 Research Theme(s): Financial system, Financial stability and systemic risk, Household and business credit, Monetary policy, Real economy and forecasting
The Framework for Risk Identification and Assessment Technical report No. 113 Cameron MacDonald, Virginie Traclet Risk assessment models are an important component of the Bank’s analytical tool kit for assessing the resilience of the financial system. We describe the Framework for Risk Identification and Assessment (FRIDA), a suite of models developed at the Bank of Canada to quantify the impact of financial stability risks to the broader economy and a range of financial system participants (households, businesses and banks). Content Type(s): Staff research, Technical reports JEL Code(s): C, C3, C5, C6, C7, D, D1, E, E0, E00, E2, E27, E3, E37, E4, E47, G, G0, G2, G21 Research Theme(s): Financial system, Financial institutions and intermediation, Financial stability and systemic risk, Models and tools, Economic models
October 7, 2004 Global Economic Developments and the Implications for Ontario Remarks David Dodge Ontario Economic Summit Niagara-on-the-Lake, Ontario One theme that I heard repeatedly in Washington is that 2004 is turning out to be a better year than many had thought, particularly over the first half of the year. Indeed, the IMF is now projecting global economic growth of 5 per cent in 2004, which would be a marked improvement from the 3.9 per cent rate seen in 2003. Content Type(s): Press, Speeches and appearances, Remarks