October 25, 2005 Bank of Canada Review - Autumn 2005 Cover page Ready References The book is part of the National Currency Collection, Bank of Canada. Photography by Gord Carter, Ottawa. Content Type(s): Publications, Bank of Canada Review
The Power of Many: Assessing the Economic Impact of the Global Fiscal Stimulus Staff Discussion Paper 2010-1 Carlos De Resende, René Lalonde, Stephen Snudden The Bank of Canada Global Economy Model (BoC-GEM) is used to examine the effect of various types of discretionary fiscal policies on different regions of the globe. The BoC-GEM is a microfounded dynamic stochastic general-equilibrium global model with six regions, multiple sectors, and international linkages. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Business fluctuations and cycles, Fiscal policy, International topics, Recent economic and financial developments JEL Code(s): E, E5, E52, E58, E6, E61, E63, F, F4, F42
An Empirical Analysis of Bill Payment Choices Staff Working Paper 2021-23 Anneke Kosse How do Canadians pay their bills? 2019 survey data collected from over 4,000 Canadian consumers show how people’s bill payment choices vary with consumer characteristics and types of bills. The data also reveal that many consumers feel limited in their choices, which suggests that preferences of billers might play an important role as well. Content Type(s): Staff research, Staff working papers Research Topic(s): Bank notes, Econometric and statistical methods, Financial services, Payment clearing and settlement systems JEL Code(s): D, D1, D9, G, G2
Structural Multi-Equation Macroeconomic Models: Identification-Robust Estimation and Fit Staff Working Paper 2009-19 Jean-Marie Dufour, Lynda Khalaf, Maral Kichian Weak identification is likely to be prevalent in multi-equation macroeconomic models such as in dynamic stochastic general equilibrium setups. Identification difficulties cause the breakdown of standard asymptotic procedures, making inference unreliable. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Inflation and prices JEL Code(s): C, C5, C52, C53, E, E3, E37
June 21, 2009 Procyclicality and Bank Capital Financial System Review - June 2009 Neville Arjani Content Type(s): Publications, Financial System Review articles
Convergence in a Stochastic Dynamic Heckscher-Ohlin Model Staff Working Paper 2006-23 Partha Chatterjee, Malik Shukayev The authors characterize the equilibrium for a small economy in a dynamic Heckscher-Ohlin model with uncertainty. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models JEL Code(s): F, F4, F43, O, O4, O41
The Effect of Oil Price Shocks on Asset Markets: Evidence from Oil Inventory News Staff Working Paper 2020-8 Ron Alquist, Reinhard Ellwanger, Jianjian Jin We quantify the reaction of U.S. equity, bond futures, and exchange rate returns to oil price shocks driven by oil inventory news. Content Type(s): Staff research, Staff working papers Research Topic(s): Financial markets, Recent economic and financial developments JEL Code(s): D, D8, D83, E, E4, E44, G, G1, G14, G15, Q, Q4, Q41, Q43
Non-Performing Loans, Fiscal Costs and Credit Expansion in China Staff Working Paper 2018-53 Huixin Bi, Yongquan Cao, Wei Dong This paper studies how the credit expansion policy pursued by the Chinese government in an effort to stimulate its economy in the post-crisis period affects bank–firm loan contracts and the macroeconomy. We build a structural model with financial frictions in which the optimal loan contract reflects the trade-off between leverage and the probability of default. Content Type(s): Staff research, Staff working papers Research Topic(s): Credit and credit aggregates, Fiscal policy, International topics JEL Code(s): E, E4, E44, E6, E62
November 15, 2017 Embracing Uncertainty in the Conduct of Monetary Policy Remarks Carolyn A. Wilkins Money Marketeers of New York University New York, New York Senior Deputy Governor Carolyn A. Wilkins explains how uncertainty is factored into monetary policy decisions. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Central bank research, Economic models, Monetary policy, Monetary policy and uncertainty, Monetary policy implementation, Monetary policy transmission
Potential output in Canada: 2025 assessment Staff Analytical Note 2025-14 Selam Abraham, Dany Brouillette, Alex Chernoff, Christopher Hajzler, Stéphanie Houle, Mark Kim, Temel Taskin We explore two scenarios for potential output growth to gain insights into the economic consequences associated with different possible trade policies. Scenario 1 includes limited US tariffs on Canadian exports. Scenario 2 adds a permanent, broad-based 25% increase in US tariffs on imports from all countries excluding Canada and Mexico. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Economic models, Labour markets, Monetary policy, Potential output, Productivity JEL Code(s): E, E2, E3, E4, E5