Blockchain Revolution Without the Blockchain Staff analytical note 2018-5 Hanna Halaburda The technology behind blockchain has attracted a lot of attention. However, this technology is for the most part not well understood. There is no consensus on what benefits it may bring or on how it may fail. Content Type(s): Staff research, Staff analytical notes JEL Code(s): D, D8, G, G2, O, O3, O33 Research Theme(s): Money and payments, Digital assets and fintech, Payment and financial market infrastructures, Structural challenges, Digitalization and productivity
The Macroeconomic Effects of Quantitative Easing in the Euro Area: Evidence from an Estimated DSGE Model Staff working paper 2018-11 Stefan Hohberger, Romanos Priftis, Lukas Vogel This paper estimates an open-economy dynamic stochastic general equilibrium model with Bayesian techniques to analyse the macroeconomic effects of the European Central Bank’s (ECB’s) quantitative easing (QE) programme. Using data on government debt stocks and yields across maturities, we identify the parameter governing portfolio adjustment in the private sector. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E4, E44, E5, E52, F, F4, F41 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy tools and implementation
Dismiss the Gap? A Real-Time Assessment of the Usefulness of Canadian Output Gaps in Forecasting Inflation Staff working paper 2018-10 Lise Pichette, Marie-Noëlle Robitaille, Mohanad Salameh, Pierre St-Amant We use a new real-time database for Canada to study various output gap measures. This includes recently developed measures based on models incorporating many variables as inputs (and therefore requiring real-time data for many variables). Content Type(s): Staff research, Staff working papers JEL Code(s): C, C5, C53, E, E3, E37 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Economic models, Monetary policy, Inflation dynamics and pressures, Real economy and forecasting
March 8, 2018 Canada’s Economic Expansion: A Progress Report Remarks Timothy Lane Greater Vancouver Board of Trade Vancouver, British Columbia Deputy Governor Tim Lane discusses the issues that led Governing Council to hold the policy interest rate at 1.25 per cent in their March 7 decision. Content Type(s): Press, Speeches and appearances, Remarks
March 8, 2018 $10 Bank Note Unveil Due to poor weather and power outages in the Halifax area, today’s official unveiling event for the new $10 bank note may experience technical difficulties. Content Type(s): Press, Announcements
March 8, 2018 New $10 bank note featuring Viola Desmond unveiled on International Women’s Day Media Relations Halifax, Nova Scotia Finance Minister Bill Morneau and Bank of Canada Governor Stephen S. Poloz today unveiled the new $10 bank note featuring Viola Desmond during a ceremony at the Halifax Central Library. Content Type(s): Press, Press releases