February 12, 2020 Law Enforcement Award of Excellence for Counterfeit Deterrence The call for nominations is open until April 16, 2020. Content Type(s): Press, Announcements
The Effect of Mortgage Rate Resets on Debt: Evidence from TransUnion (Part I) Staff analytical note 2020-2 Katya Kartashova This note studies how decreases in mortgage rates affect the behaviour of borrowers in terms of spending on durable goods and repaying debt. Content Type(s): Staff research, Staff analytical notes JEL Code(s): D, D1, D12, D14, E, E4, E43, E5, E52, G, G2, G21, R, R3, R31 Research Theme(s): Financial system, Household and business credit, Monetary policy, Monetary policy framework and transmission
February 10, 2020 Research paper awards At the Bank of Canada, we’re pleased to offer awards for research papers by students and by staff.
February 10, 2020 University of British Columbia crowned National Champion of The Governor’s Challenge Media Relations Ottawa, Ontario The University of British Columbia has won the Bank of Canada’s fifth annual Governor’s Challenge, a national student competition in which teams simulate the role of advisor to the Bank’s Governing Council. Content Type(s): Press, Press releases Source(s): The Governor's Challenge
The Power of Helicopter Money Revisited: A New Keynesian Perspective Staff discussion paper 2020-1 Thomas J. Carter, Rhys R. Mendes We analyze money financing of fiscal transfers (helicopter money) in two simple New Keynesian models: a “textbook” model in which all money is non-interest-bearing (e.g., all money is currency), and a more realistic model with interest-bearing reserves. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E1, E12, E4, E41, E43, E5, E51, E52, E58, E6, E61, E63 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation
A Spatial Model of Bank Branches in Canada Staff working paper 2020-4 Heng Chen, Matthew Strathearn Using data on bank branch locations across Canada from 2008 to 2018, we explore an interesting aspect of bank branch competition—geographic concentration. We find that bank branch density does not correlate with geographic and market concentration; however, we do find strong correlation with postal-code demographics. Content Type(s): Staff research, Staff working papers JEL Code(s): L, L1, R, R3 Research Theme(s): Financial markets and funds management, Market structure, Financial system, Financial institutions and intermediation
Characterizing Breadth in Canadian Economic Activity Staff analytical note 2020-1 Taylor Webley, Carla Valerio, Maureen MacIsaac Real growth in gross domestic product tends to be meaningfully higher when a large share of industries and demand components are growing—that is, when growth is broad across many fronts. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E3, E32 Research Theme(s): Models and tools, Economic models, Monetary policy, Real economy and forecasting
February 5, 2020 Securing prosperity is up to all of us Speech summary Carolyn A. Wilkins Economic Club of Canada Toronto, Ontario Senior Deputy Governor Carolyn A. Wilkins explains that Canada is well-positioned to secure prosperity and avoid a long period of slow growth if we take the right steps. Content Type(s): Press, Speeches and appearances, Speech summaries Subject(s): Monetary policy, Economy/Economic growth, Inflation targeting framework