Does Financial Structure Matter for the Information Content of Financial Indicators? Staff Working Paper 2005-33 Ramdane Djoudad, Jack Selody, Carolyn A. Wilkins Of particular concern to monetary policy-makers is the considerable unreliability of financial variables for predicting GDP growth and inflation. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Credit and credit aggregates, Inflation and prices, Interest rates, Monetary aggregates JEL Code(s): E, E3, E31, E32
Maturity Composition and the Demand for Government Debt Staff Working Paper 2020-29 Jason Allen, Jakub Kastl, Milena Wittwer The main objectives of debt management are to raise stable and low-cost funding to meet the government’s financial needs and to maintain a well-functioning market for government securities. Content Type(s): Staff research, Staff working papers Research Topic(s): Debt management, Financial markets JEL Code(s): C, C1, C14, D, D4, D44, E, E5, E58, G, G1, G12
Gender Gaps in Time Use and Entrepreneurship Staff Working Paper 2024-43 Pedro Bento, Lin Shao, Faisal Sohail The prevalence of entrepreneurs, particularly low-productivity non-employers, declines as economies develop. This decline is more pronounced for women. Relative to men, women are more likely to be entrepreneurs in poor economies but less likely in rich economies. Content Type(s): Staff research, Staff working papers Research Topic(s): Firm dynamics, Productivity JEL Code(s): J, J2, L, L2, O, O1
Commodity-Linked Bonds: A Potential Means for Less-Developed Countries to Raise Foreign Capital Staff Working Paper 2004-20 Joseph Atta-Mensah The author suggests that commodity-linked bonds could provide a potential means for less-developed countries (LDCs) to raise money on the international capital markets, rather than through standard forms of financing. Content Type(s): Staff research, Staff working papers Research Topic(s): Development economics, Financial markets, International topics JEL Code(s): F, F3, F30, F34, F4, F49, G, G1, G11, G13, O, O1, O16
The Long-Term Effects of Cross-Listing, Investor Recognition, and Ownership Structure on Valuation Staff Working Paper 2006-44 Michael R. King, Dan Segal The authors show that the widening of a foreign firm's U.S. investor base and the improved information environment associated with cross-listing on a U.S. exchange each have a separately identifiable effect on a firm's valuation. Content Type(s): Staff research, Staff working papers Research Topic(s): Financial markets, International topics JEL Code(s): G, G1, G12, G15
On the Nature and the Stability of the Canadian Phillips Curve Staff Working Paper 2001-4 Maral Kichian This paper empirically determines why, during the 1990s, inflation in Canada was consistently more stable than predicted by the fixed-coefficients Phillips curve. A time-varying-coefficient model, where all the parameters adjust simultaneously, shows that the behaviour of expectations was probably a major contributing factor. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Econometric and statistical methods, Inflation and prices JEL Code(s): E, E3, E37
Sample Calibration of the Online CFM Survey Technical Report No. 118 Marie-Hélène Felt, David Laferrière The Canadian Financial Monitor (CFM) survey uses non-probability sampling for data collection, so selection bias is likely. We outline methods for obtaining survey weights and discuss the conditions necessary for these weights to eliminate selection bias. We obtain calibration weights for the 2018 and 2019 online CFM samples. Content Type(s): Staff research, Technical reports Research Topic(s): Econometric and statistical methods JEL Code(s): C, C8, C81, C83
Computing the Accuracy of Complex Non-Random Sampling Methods: The Case of the Bank of Canada's Business Outlook Survey Staff Working Paper 2009-10 Daniel de Munnik, David Dupuis, Mark Illing A number of central banks publish their own business conditions survey based on non-random sampling methods. The results of these surveys influence monetary policy decisions and thus affect expectations in financial markets. To date, however, no one has computed the statistical accuracy of these surveys because their respective non-random sampling method renders this assessment non-trivial. Content Type(s): Staff research, Staff working papers Research Topic(s): Central bank research, Econometric and statistical methods, Regional economic developments JEL Code(s): C, C4, C8, C81, C9, C90
Canadian Bank Balance-Sheet Management: Breakdown by Types of Canadian Financial Institutions Staff Discussion Paper 2012-7 David Xiao Chen, H. Evren Damar, Hani Soubra, Yaz Terajima The authors document leverage, capital and liquidity ratios of banks in Canada. These ratios are important indicators of different types of risk with respect to a bank’s balance‐sheet management. Particular attention is given to the observations by different types of banks, including small banks that historically received less attention. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial institutions, Financial stability, Financial system regulation and policies JEL Code(s): G, G2, G21, G28
A Barometer of Canadian Financial System Vulnerabilities Staff Analytical Note 2017-24 Thibaut Duprey, Tom Roberts This note presents a composite indicator of Canadian financial system vulnerabilities—the Vulnerabilities Barometer. It aims to complement the Bank of Canada’s vulnerabilities assessment by adding a quantitative and synthesized perspective to the more granular (distributional) analysis presented in the Financial System Review. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Econometric and statistical methods, Financial stability, Monetary and financial indicators JEL Code(s): C, C1, C14, C4, C40, D, D1, D14, E, E3, E32, E6, E66, F, F0, F01, G, G0, G01, G1, G15, G2, G21, H, H6, H63