Monetary policy framework
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The Power of Helicopter Money Revisited: A New Keynesian Perspective
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
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?
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
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. -
January 30, 2020
Monetary Policy and Financial Vulnerabilities
Deputy Governor Paul Beaudry discusses how financial vulnerabilities present a challenge for monetary policy. -
Managing GDP Tail Risk
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. -
January 5, 2020
Monetary Policy Frameworks in a World of Low Interest Rates
Archived panel discussion hosted by the Bank for International Settlements at the American Economic Association’s 2020 Annual Meeting of Allied Social Science Associations. -
December 12, 2019
The Bank of Canada’s plans for 2020
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. -
December 12, 2019
Big Issues Ahead: The Bank’s 2020 Vision
Governor Stephen S. Poloz discusses how long-term global economic forces will drive the Bank of Canada’s work agenda in 2020 and beyond.