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8227 Results

March 24, 2016

Annual Report 2015

The Annual Report provides an account of the Bank’s management, activities and achievements in 2015; it includes the financial statements and a message from Governor Stephen S. Poloz.
Content Type(s): Publications, Annual Report

Capital Structure, Pay Structure and Job Termination

Staff Working Paper 2016-12 Jason Allen, James R. Thompson
We develop a model to analyze the link between financial leverage, worker pay structure and the risk of job termination. Contrary to the conventional view, we show that even in the absence of any agency problem among workers, variable pay can be optimal despite workers being risk averse and firms risk neutral.
Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Labour markets JEL Code(s): G, G2, G24, J, J3, J33

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.
March 17, 2016

Nominations – From 461 to One Iconic Canadian Woman

A total of 461 iconic Canadian women met the initial qualifying criteria and an independent Advisory Council followed the selection process to produce a long list of 12 women and then a short list of five. On 8 December 2016, the Minister of Finance and the Governor of the Bank of Canada revealed that Viola Desmond will be featured on the new $10 note.
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