Monetary and Fiscal Policies in Canada: Some Interesting Principles for EMU? Staff Working Paper 2004-28 Virginie Traclet Choosing a well-designed framework for fiscal and monetary policies is a challenge for economic authorities. Content Type(s): Staff research, Staff working papers Research Topic(s): Fiscal policy, Monetary policy framework JEL Code(s): E, E5, E58, E6, E61, E63
June 21, 2006 The Bank of Canada’s Role in the Oversight of Clearing and Settlement Systems Financial System Review - June 2006 Walter Engert, Dinah Maclean This article sets out the Bank’s mandate for regulatory oversight of clearing and settlement systems, the strategy that is followed, and the key activities relevant to the conduct of oversight. Content Type(s): Publications, Financial System Review articles
Monetary Policy, Private Debt and Financial Stability Risks Staff Working Paper 2016-59 Gregory Bauer, Eleonora Granziera Can monetary policy be used to promote financial stability? We answer this question by estimating the impact of a monetary policy shock on private-sector leverage and the likelihood of a financial crisis. Impulse responses obtained from a panel VAR model of 18 advanced countries suggest that the debt-to-GDP ratio rises in the short run following an unexpected tightening in monetary policy. Content Type(s): Staff research, Staff working papers Research Topic(s): Credit and credit aggregates, Financial stability, Monetary policy, Monetary policy transmission JEL Code(s): C, C2, C21, C23, E, E5, E52, E58
November 7, 2011 Renewal of the Inflation-Control Target (November 2011) Commentary and technical data relating to the 2011 target renewal. Content Type(s): Background materials Research Topic(s): Inflation and prices, Monetary policy
Canadians’ Access to Cash Before and During the COVID-19 Pandemic Staff Discussion Paper 2022-15 Heng Chen, Marie-Hélène Felt This paper studies Canadians’ access to cash using the geographical distribution of automated banking machines (ABMs). During the pandemic, there have been no sustained adverse effects on cash accessibility. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial services, Regional economic developments JEL Code(s): J, J1, J15, O, O1, R, R5, R51
The Economics of Cryptocurrencies—Bitcoin and Beyond Staff Working Paper 2019-40 Jonathan Chiu, Thorsten Koeppl Since the creation of Bitcoin in 2009, over 2,000 cryptocurrencies have been issued. We evaluate how well a cryptocurrency functions as a payment system. Content Type(s): Staff research, Staff working papers Research Topic(s): Digital currencies and fintech, Monetary policy, Payment clearing and settlement systems JEL Code(s): E, E4, E5, L, L5
Structural Change in Covariance and Exchange Rate Pass-Through: The Case of Canada Staff Working Paper 2006-2 Lynda Khalaf, Maral Kichian The authors address empirically the implications of structural breaks in the variance-covariance matrix of inflation and import prices for changes in pass-through. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods JEL Code(s): C, C5, C52, E, E3, E31, F, F3, F31, F4, F40
Regime-Switching Models: A Guide to the Bank of Canada Gauss Procedures Staff Working Paper 1996-3 Simon van Norden, Robert Vigfusson This paper is a user's guide to a set of Gauss procedures developed at the Bank of Canada for estimating regime-switching models. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods JEL Code(s): C, C6, C63
Why Canada Needs a Flexible Exchange Rate Staff Working Paper 1999-12 John Murray This paper explores the arguments for and against a common currency for Canada and the United States and attempts to determine whether such an arrangement would offer any significant advantages for Canada compared with the present flexible exchange rate system. The paper first reviews the theoretical arguments advanced in the economics literature in support of fixed and flexible currency arrangements. A discussion of Canada's past experience with the two exchange rate systems follows, after which there is a survey of the empirical evidence published on Canada's current and prospective suitability for some form of fixed currency arrangement with the United States. The final section of the paper examines critically a number of concerns raised about the behaviour of the current flexible exchange rate system. Content Type(s): Staff research, Staff working papers Research Topic(s): Exchange rates JEL Code(s): F, F3, F31
Monetary Policy Committees in Action: Is There Room for Improvement? Staff Working Paper 2007-6 Philipp Maier More than 80 central banks use a committee to take monetary policy decisions. The composition of the committee and the structure of the meeting can affect the quality of the decision making. Content Type(s): Staff research, Staff working papers Research Topic(s): Central bank research, Monetary policy framework JEL Code(s): C, C9, C92, D, D7, D70, E, E5, E58