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8649 Results

August 16, 2022

La Presse

Tiff Macklem
In an opinion piece published by La Presse, Governor Tiff Macklem talks about inflation and the Bank's focus on taming it.
Content Type(s): Press, Media activities
August 16, 2022

National Post

Tiff Macklem

In an opinion piece published in the National Post, Governor Tiff Macklem talks about inflation and the Bank's focus on taming it.

Content Type(s): Press, Media activities

Risk and State-Dependent Financial Frictions

Staff Working Paper 2022-37 Martin Harding, Rafael Wouters
Using a nonlinear New Keynesian model with a financial accelerator, we show that financial frictions generate large state-dependent amplification effects. Shocks propagate more strongly in periods of financial stress. We propose an endogenous regime-switching DSGE framework for efficient estimation and improved model fit.

Weather the Storms? Hurricanes, Technology and Oil Production

Do technological improvements mitigate the potential damages from extreme weather events? We show that hurricanes lower offshore oil production in the Gulf of Mexico and that stronger storms have larger impacts. Regulations enacted in 1980 that required improved offshore construction standards only modestly mitigated the production losses.

PayTech and the D(ata) N(etwork) A(ctivities) of BigTech Platforms

Staff Working Paper 2022-35 Jonathan Chiu, Thorsten Koeppl
Why do BigTech platforms introduce payment services? We explore this using a model in which a monopoly platform faces a trade-off between the costs associated with privacy concerns and the revenue from data services. We then analyze the feedback effects between data and payments.
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