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210 Results

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.
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.
February 5, 2020

Our Economic Destiny: Written in R-stars?

Remarks Carolyn A. Wilkins Economic Club of Canada Toronto, Ontario
Senior Deputy Governor Carolyn A. Wilkins talks about how to navigate slow growth and discusses the types of policies that would help secure long-term prosperity.
January 30, 2020

How vulnerabilities like debt can affect interest rates

Speech summary Paul Beaudry Laval University Québec, Québec
Deputy Governor Paul Beaudry explains to students at Laval University why financial vulnerabilities—such as household debt—are important for the Bank of Canada when it sets interest rates.

Managing GDP Tail Risk

Staff Working Paper 2020-3 Thibaut Duprey, Alexander Ueberfeldt
Models for macroeconomic forecasts do not usually take into account the risk of a crisis—that is, a sudden large decline in gross domestic product (GDP). However, policy-makers worry about such GDP tail risk because of its large social and economic costs.
December 12, 2019

The Bank of Canada’s plans for 2020

Speech summary Stephen S. Poloz Empire Club of Canada Toronto, Ontario
In his traditional year-end speech, Governor Stephen S. Poloz described some of the long-term forces affecting the global and Canadian economies that will shape the Bank’s work in 2020.
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