June 21, 2007 Modelling Payments Systems: A Review of the Literature Financial System Review - June 2007 Jonathan Chiu, Alexandra Lai Content Type(s): Publications, Financial System Review articles
November 17, 2003 Global Challenges, Canadian Opportunities Remarks David Dodge Office for Partnerships for Advanced Skills Annual Visionary Seminar Ottawa, Ontario It is certainly nothing new to say that economies have become increasingly globalized. In his 1962 book, The Gutenberg Galaxy, Marshall McLuhan observed that the electronic mass media were collapsing time and space barriers. This enabled people to communicate on a global scale. He coined the term "global village" to describe this change. Content Type(s): Press, Speeches and appearances, Remarks
February 1, 2011 Canada's Competitive Imperative: Investing in Productivity Gains Remarks Tiff Macklem Productivity Alberta Edmonton, Alberta Canada’s advantages were very apparent through the financial crisis. They sheltered us from the worst of the storm and put Canada at the front of the pack coming out of the recession. Content Type(s): Press, Speeches and appearances, Remarks
A Macroeconomic Model of an Epidemic with Silent Transmission and Endogenous Self-isolation Staff working paper 2020-50 Antonio Diez de los Rios We study the interaction between epidemics and economic decisions in a model that has silent transmission of the virus. We find that rational behaviour strongly diminishes the severity of the epidemic but worsens the economic recession. We also find that the detection and isolation of not only symptomatic individuals but also those who are infected and asymptomatic or mildly symptomatic can reduce the severity of the recession caused by the pandemic. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E1, H, H0, I, I1 Research Theme(s): Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures, Real economy and forecasting, Structural challenges, Demographics and labour supply
Modelling the Sovereign Debt Strategy: A Practical Primer Staff discussion paper 2025-16 Nicolas Audet, Adam Epp, Jeffrey Gao, Joe Ning We provide a primer on the role of debt modelling in informing the sovereign debt issuance strategy and discuss how specific challenges faced by debt managers can influence model design decisions. These insights are supported by our experiences using the Canadian Debt Strategy Model to guide policy decisions. Content Type(s): Staff research, Staff discussion papers JEL Code(s): G, G1, G11, G17, H, H6, H63, H68 Research Theme(s): Financial markets and funds management, Funds management, Models and tools, Economic models
The “Too Big to Fail” Subsidy in Canada: Some Estimates Staff working paper 2018-9 Patricia Palhau Mora Implicit government guarantees of banking-sector liabilities reduce market discipline by private sector stakeholders and temper the risk sensitivity of funding costs. This potentially increases the likelihood of bailouts from taxpayers, especially in the absence of effective resolution frameworks. Content Type(s): Staff research, Staff working papers JEL Code(s): G, G1, G13, G2, G21, G28 Research Theme(s): Financial system, Financial stability and systemic risk, Financial system regulation and oversight
October 31, 2022 Research Update - October 2022 This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. Content Type(s): Staff research, Research newsletters
Consumer Credit with Over-optimistic Borrowers Staff working paper 2020-57 Florian Exler, Igor Livshits, James (Jim) C. MacGee, Michèle Tertilt When lenders cannot directly identify behavioural and rational borrowers, they use type scoring to track the likelihood of a borrower’s type. This leads to the partial pooling of borrowers, which results in rational borrowers subsidizing borrowing costs for behavioural borrowers. This, in turn, reduces the effectiveness of regulatory policies that target mistakes by behavioural borrowers. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E21, E4, E49, G, G1, G18, K, K3, K35 Research Theme(s): Financial system, Financial stability and systemic risk, Financial system regulation and oversight, Household and business credit, Monetary policy, Monetary policy framework and transmission
October 21, 2016 2nd Annual Conference on the Chinese Economy Workshop held on 21 and 22 October 2016 (papers in unedited, electronic format only) Content Type(s): Conferences and workshops