Short-Run Dynamics in a Search-Theoretic Model of Monetary Exchange Staff working paper 2020-48 Jonathan Chiu, Miguel Molico We study the short-run effects of monetary policy using a search-theoretic monetary model in which agents are subject to idiosyncratic shocks and aggregate monetary shocks. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E4, E40, E5, E50 Research Theme(s): Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission, Monetary policy tools and implementation
November 17, 2020 Panel remarks Remarks (delivered virtually) Tiff Macklem Public Policy Forum Ottawa, Ontario Governor Tiff Macklem speaks by videoconference at the Public Policy Forum’s Sustainable Finance 2 Roundtable Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth
November 16, 2020 Operational details for upcoming secondary market purchases of Government of Canada securities (November 23 - December 4) As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP). Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program
November 16, 2020 Bank of Canada and OSFI launch pilot project on climate risk scenarios Media Relations Ottawa, Ontario The Bank of Canada and the Office of the Superintendent of Financial Institutions (OSFI) today announced plans for a pilot project to use climate-change scenarios to better understand the risks to the financial system related to a transition to a low-carbon economy. Content Type(s): Press, Press releases
November 16, 2020 CARR Meeting (November 16, 2020) Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group
November 12, 2020 Helping the economy after the COVID‑19 pandemic Speech summary Carolyn A. Wilkins Munk School of Global Affairs and Public Policy Toronto, Ontario The pandemic won’t last forever. Senior Deputy Governor Carolyn A. Wilkins talks about what the economy will need once we’re past the COVID-19 crisis. Content Type(s): Press, Speeches and appearances, Speech summaries Subject(s): Financial system, Financial stability, Funds management, Monetary policy, Economy/Economic growth, Inflation targeting framework
November 12, 2020 Exploring life after COVID-19: the far side of the moon Remarks (delivered virtually) Carolyn A. Wilkins Munk School of Global Affairs and Public Policy Toronto, Ontario Senior Deputy Governor Carolyn A. Wilkins discusses what the economy will need once we’re past the COVID-19 crisis. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
Assessing Global Potential Output Growth: October 2020 Staff discussion paper 2020-10 Xin Scott Chen, Ali Jaffery, Guillaume Nolin, Karim Salhab, Peter Shannon, Subrata Sarker This paper presents updated estimates of potential output growth for the global economy through 2022. Global potential output growth is expected to decline sharply in the aftermath of the COVID-19 pandemic and recover partially by the end of the projection horizon of the October 2020 Monetary Policy Report. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E1, E10, E2, E20, O, O4 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply, Digitalization and productivity