Balance of payments and components - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T10:25:11+00:00Exports and the Exchange Rate: A General Equilibrium Perspective
https://www.bankofcanada.ca/2022/04/staff-working-paper-2022-18/
How do a country’s exports change when its currency depreciates? Does it matter which forces drive the exchange rate deprecation in the first place? We find that this relationship varies greatly depending on what drives exchange rate movements, and we conclude that the direct relationship between the exchange rate and exports is weak for Canada.2022-04-04T14:42:27+00:00enExports and the Exchange Rate: A General Equilibrium Perspective2022-04-04Balance of payments and componentsBusiness fluctuations and cyclesExchange rate regimesExchange ratesInternational topicsMonetary policy transmissionTrade integrationStaff Working Paper 2022-18https://www.bankofcanada.ca/wp-content/uploads/2022/04/swp2022-18.pdfExports and the Exchange Rate: A General Equilibrium PerspectivePatrick AlexanderAbeer RezaApril 2022FF3F31F32F33F4F41A Macroprudential Theory of Foreign Reserve Accumulation
https://www.bankofcanada.ca/2019/10/staff-working-paper-2019-43/
This paper proposes a theory of foreign reserves as macroprudential policy. We study an open-economy model of financial crises in which pecuniary externalities lead to overborrowing, and show that by accumulating international reserves, the government can achieve the constrained-efficient allocation.2019-10-03T11:50:21+00:00enA Macroprudential Theory of Foreign Reserve Accumulation2019-10-03Balance of payments and componentsFinancial stabilityFinancial system regulation and policiesForeign reserves managementInternational financial marketsStaff Working Paper 2019-43https://www.bankofcanada.ca/wp-content/uploads/2019/10/swp2019-43.pdfA Macroprudential Theory of Foreign Reserve AccumulationFernando ArceJulien BenguiJavier BianchiOctober 2019DD5D52D6D62FF3F34The Age of Leverage
https://www.bankofcanada.ca/2019/03/the-age-of-leverage/
Senior Deputy Governor Carolyn A. Wilkins discusses how high leverage is both a headwind to global growth and a vulnerability in the global financial system.2019-03-14T11:28:46+00:00The Age of Leverage2019-03-14Carolyn A. WilkinsThe Size and Destination of China’s Portfolio Outflows
https://www.bankofcanada.ca/2018/10/staff-discussion-paper-2018-11/
The size of China’s financial system raises the possibility that the liberalization of its capital account could have a large effect on the global financial system. This paper provides a counterfactual scenario analysis that estimates what the size and direction of China’s overseas portfolio investments would have been in 2015 if China had had no restrictions on these outflows.2018-10-03T08:17:42+00:00enThe Size and Destination of China’s Portfolio Outflows2018-10-03Balance of payments and componentsEconometric and statistical methodsInternational topicsStaff Discussion Paper 2018-11https://www.bankofcanada.ca/wp-content/uploads/2018/10/sdp2018-11.pdfThe Size and Destination of China’s Portfolio OutflowsRose CunninghamEden HatzviKun MoOctober 2018CC2C23FF2F21F3F32GG1G15Trading up
https://www.bankofcanada.ca/2018/09/trading-up/
How countries benefit from freer trade.2018-09-28T10:00:53+00:00enTrading up2018-09-28Can the Canadian International Investment Position Stabilize a Slowing Economy?
https://www.bankofcanada.ca/2017/10/staff-analytical-note-2017-14/
In this note, we find that valuation effects can act as an important stabilizer, strengthening Canada’s net external wealth when its economic outlook worsens relative to that of other countries.2017-10-17T11:27:28+00:00enCan the Canadian International Investment Position Stabilize a Slowing Economy?2017-10-17Canada’s International Investment Position: Benefits and Potential Vulnerabilities
https://www.bankofcanada.ca/wp-content/uploads/2017/06/fsr-june17-bruneau.pdf
While greater global financial integration is beneficial, the authors discuss how foreign capital inflows can also facilitate the buildup of domestic vulnerabilities and potentially lead to destabilizing reversals. Canada’s current international investment position is typical of advanced economies and will likely continue to act as an economic stabilizer. However, the growth and composition of Canada’s international investment position warrant continued monitoring.2017-06-08T10:30:50+00:00enCanada’s International Investment Position: Benefits and Potential Vulnerabilities2017-06-08Global Real Activity for Canadian Exports: GRACE
https://www.bankofcanada.ca/2017/01/staff-discussion-paper-2017-2/
Canadian exports have often disappointed since the Great Recession. The apparent disconnect between exports and the Bank of Canada’s current measure of foreign demand has created an impetus to search for an alternative.2017-01-18T10:00:24+00:00enGlobal Real Activity for Canadian Exports: GRACE2017-01-18Balance of payments and componentsEconometric and statistical methodsExchange ratesStaff Discussion Paper 2017-2https://www.bankofcanada.ca/wp-content/uploads/2017/01/sdp2017-2.pdfGlobal Real Activity for Canadian Exports: GRACEAndré BinetteTony ChernisDaniel de MunnikJanuary 2017FF1F10F14F4F43An Improved Equation for Predicting Canadian Non-Commodity Exports
https://www.bankofcanada.ca/2017/01/staff-discussion-paper-2017-1/
We estimate two new equations for Canadian non-commodity exports (NCX) that incorporate three important changes relative to the current equation used at the Bank of Canada.2017-01-18T10:00:18+00:00enAn Improved Equation for Predicting Canadian Non-Commodity Exports2017-01-18Balance of payments and componentsExchange ratesInternational topicsStaff Discussion Paper 2017-1https://www.bankofcanada.ca/wp-content/uploads/2017/01/sdp2017-1.pdfGlobal Real Activity for Canadian Exports: GRACEPatrick AlexanderJean-Philippe CayenAlex ProulxJanuary 2017FF1F10F14F17Follow the Money: A Canadian Perspective on Financial Globalization
https://www.bankofcanada.ca/2016/11/follow-money-canadian-perspective-financial-globalization/
Deputy Governor Timothy Lane discusses the benefits and challenges of international capital mobility.2016-11-16T11:50:47+00:00Follow the Money: A Canadian Perspective on Financial Globalization2016-11-16Timothy Lane