August 24, 2011 Quarterly Financial Report - Second Quarter 2011 Quarterly Financial Report - Second Quarter, 2011 - For the period ended 30 June 2011 Content Type(s): Publications, Quarterly Financial Report
August 24, 2004 Bank of Canada Review - Summer 2004 Cover page Promissory Note, 1712 The note measures 28 cm x 16 cm and forms part of the National Currency Collection, Bank of Canada. Photography by Gord Carter, Ottawa Content Type(s): Publications, Bank of Canada Review
Dating Systemic Financial Stress Episodes in the EU Countries Staff working paper 2016-11 Benjamin Klaus, Tuomas Peltonen, Thibaut Duprey This paper introduces a new methodology to date systemic financial stress events in a transparent, objective and reproducible way. The financial cycle is captured by a monthly country-specific financial stress index. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C5, C54, G, G0, G01, G1, G15 Research Theme(s): Financial system, Financial stability and systemic risk, Models and tools, Econometric, statistical and computational methods
Evaluating the Effects of Forward Guidance and Large-scale Asset Purchases Staff working paper 2021-54 Xu Zhang I propose a novel method to identify and estimate the macroeconomic effects of forward guidance and large-scale asset purchases (LSAP) for each FOMC announcement. I find that LSAP is more important than forward guidance in influencing output and inflation. LSAP puts upward pressure on short-term yields, so it should always be used in conjunction with forward guidance. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E5, G, G0 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy tools and implementation
Familiarity with Crypto and Financial Concepts: Cryptoasset Owners, Non-Owners, and Gender Differences Staff working paper 2024-48 Daniela Balutel, Walter Engert, Christopher Henry, Kim Huynh, Doina Rusu, Marcel Voia Measuring cryptoasset knowledge alongside financial knowledge enhances our understanding of individuals' decisions to purchase cryptoassets. This paper uses microdata from the Bank of Canada’s Bitcoin Omnibus Survey to examine gender differences and the interrelationship between crypto and financial knowledge through an empirical joint analysis. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C8, C81, D, D1, D14, D9, D91, G, G5, G53, O, O5, O51 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Money and payments, Digital assets and fintech
Quantitative Easing and Long‐Term Yields in Small Open Economies Staff working paper 2017-26 Antonio Diez de los Rios, Maral Shamloo We compare the Federal Reserve’s asset purchase programs with those implemented by the Bank of England and the Swedish Riksbank, and the Swiss National Bank’s reserve expansion program. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E4, E43, E5, E52, E58, G, G1, G12 Research Theme(s): Financial markets and funds management, Market functioning, Models and tools, Economic models, Monetary policy, Monetary policy tools and implementation, Structural challenges, International trade, finance and competitiveness
Risk and State-Dependent Financial Frictions Staff working paper 2022-37 Martin Harding, Rafael Wouters Using a nonlinear New Keynesian model with a financial accelerator, we show that financial frictions generate large state-dependent amplification effects. Shocks propagate more strongly in periods of financial stress. We propose an endogenous regime-switching DSGE framework for efficient estimation and improved model fit. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E5, E52, E58 Research Theme(s): Financial system, Financial stability and systemic risk, Household and business credit, Models and tools, Economic models
December 10, 2013 Financial System Review - December 2013 There have been positive developments in the global financial system since the June Financial System Review, in part reflecting some encouraging signs about the global economy. At the same time, significant vulnerabilities remain. The Governing Council judges that the overall risk to the stability of Canada’s financial system has decreased from “high” to “elevated” over the past six months. Content Type(s): Publications, Financial Stability Report
Monetary Policy Challenges in a Volatile World Staff analytical paper 2026-34 Stefano Gnocchi, Matteo Cacciatore Rising volatility and structural shifts—deglobalization, climate risks, and AI—are reshaping inflation and policy trade-offs. Evidence suggests central banks can accommodate supply-driven inflation while balancing inflation and output, as long as expectations stay anchored and policy reflects shock size, persistence, and broader economic conditions. Content Type(s): Staff research, Staff analytical paper JEL Code(s): E, E3, E31, E32, E5, E52, E58 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission, Structural challenges, Climate change, International trade, finance and competitiveness
BoC–BoE Sovereign Default Database: Appendix and References Technical report No. 125 David Beers, Obiageri Ndukwe, Joe Berry Since 2014, the Bank of Canada (BoC) has maintained a comprehensive database of sovereign defaults to systematically measure and aggregate the nominal value of the different types of sovereign government debt in default. The database is posted on the BoC’s website and is updated annually in partnership with the Bank of England (BoE). Content Type(s): Staff research, Technical reports JEL Code(s): F, F3, F34, G, G1, G10, G14, G15 Research Theme(s): Financial markets and funds management, Funds management, Financial system, Financial stability and systemic risk