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9009 Results

Updated Methodology for Assigning Credit Ratings to Sovereigns

We update the Bank of Canada’s credit rating methodology for sovereigns, including our approach to assessing their fiscal position and monetary policy flexibility. We also explicitly consider climate-related factors.

Are Bank Bailouts Welfare Improving?

Staff Working Paper 2021-56 Malik Shukayev, Alexander Ueberfeldt
Financial sector bailouts, while potentially beneficial during a crisis, might lead to excessive risk taking if anticipated. Taking expectations and aggregate risk implications into account, we show that bailouts can be welfare improving, but only if capital adequacy constraints are sufficiently tight.
November 9, 2021

John Kuszczak Memorial Lecture 2021

Narrative Economics and Monetary Policy — Address by Robert Shiller, 2013 Nobel Laureate for Economic Sciences, Yale University, with introductory remarks by Paul Beaudry, Deputy Governor.
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