Sectoral balance sheet

• February 8, 2016

  Monetary Policy and Financial Stability—Looking for the Right Tools

  Remarks Timothy Lane HEC Montréal Montréal, Quebec

  Deputy Governor Tim Lane discusses the links between monetary policy and financial stability.

  Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Central bank research, Credit and credit aggregates, Financial stability, Financial system regulation and policies, Monetary policy framework, Sectoral balance sheet
• December 15, 2015

  Release of the Financial System Review

  Opening statement Stephen S. Poloz Ottawa, Ontario

  Press conference following the release of the Financial System Review.

  Content Type(s): Press, Speeches and appearances, Opening statements Research Topic(s): Credit and credit aggregates, Financial stability, Financial system regulation and policies, Housing, Regional economic developments, Sectoral balance sheet
• August 25, 2015

  The Long-Term Evolution of House Prices: An International Perspective

  Remarks Lawrence L. Schembri Canadian Association for Business Economics Kingston, Ontario

  Deputy Governor Lawrence Schembri discusses the international evidence of underlying determinants of long-term movements in house prices.

  Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Credit and credit aggregates, Financial stability, Financial system regulation and policies, Housing, International topics, Sectoral balance sheet
• June 11, 2015

  Release of the Financial System Review

  Opening statement Stephen S. Poloz Ottawa, Ontario

  Press conference following the release of the Financial System Review.

  Content Type(s): Press, Speeches and appearances, Opening statements Research Topic(s): Credit and credit aggregates, Financial stability, Financial system regulation and policies, Housing, Regional economic developments, Sectoral balance sheet

• Macroeconomic Experiences and Risk Taking of Euro Area Households

  Staff Working Paper 2014-10 Miguel Ampudia, Michael Ehrmann

  This paper studies to what extent the experiences of households shape their willingness to take financial risks. It follows the methodology of Malmendier and Nagel (2011) and applies it to a novel data set on household finances covering euro area households.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Sectoral balance sheet JEL Code(s): D, D0, D03, D1, D14, D8, D83, G, G1, G11

• How Important Are Liquidity Constraints for Canadian Households? Evidence from Micro-Data

  Staff Discussion Paper 2012-9 Umar Faruqui, Samah Torchani

  Using a unique micro-dataset containing real and financial information on Canadian households for 2000–07, the authors address two questions: (1) What is the proportion of households whose consumption displays excess sensitivity to income, and who are likely liquidity constrained?

  Content Type(s): Staff research, Staff discussion papers Research Topic(s): Economic models, Sectoral balance sheet JEL Code(s): C, C3, C35, D, D1, D12, D3, D30

• Real-Financial Linkages in the Canadian Economy: An Input-Output Approach

  Staff Working Paper 2011-14 Danny Leung, Oana Secrieru

  The purpose of this paper is twofold. First, we provide a detailed social accounting matrix (SAM), which incorporates the income and financial flows into the standard input-output matrix, for the Canadian economy for 2004.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Financial markets, Sectoral balance sheet JEL Code(s): C, C6, C67, D, D5, D57

• Assembling a Real-Financial Micro-Dataset for Canadian Households

  Staff Working Paper 2010-6 Umar Faruqui

  The lack of consolidated Canadian micro data on household balance sheets and expenditures has been an important impediment to empirical research into real-financial linkages in the Canadian household sector. Our paper attempts to fill this data gap by merging household balance sheet data from the Canadian Financial Monitor survey with household expenditure data from the Survey of Household Spending.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Sectoral balance sheet JEL Code(s): C, C8, C81, D, D1, D10

• Household Debt, Assets, and Income in Canada: A Microdata Study

  Staff Discussion Paper 2009-7 Césaire Meh, Yaz Terajima, David Xiao Chen, Thomas J. Carter

  The authors use microdata from the 1999 and 2005 Surveys of Financial Security to identify changes in household debt, and discuss their potential implications for monetary policy and financial stability. They document an increase in the debt-income ratio, which rose from 0.75 to 0.95, on average.

  Content Type(s): Staff research, Staff discussion papers Research Topic(s): Credit and credit aggregates, Financial stability, Productivity, Sectoral balance sheet JEL Code(s): E, E2, E21, E24
• April 5, 2009

  Unexpected Inflation and Redistribution of Wealth in Canada

  Bank of Canada Review - Spring 2009 Césaire Meh, Yaz Terajima

  One of the most important arguments in favour of price stability is that unexpected inflation generates changes in the distribution of income and wealth among different economic agents. These redistributions occur because many loans are specified in fixed dollar terms and unexpected inflation redistributes wealth from creditors to debtors by reducing the real value of nominal assets and liabilities.

  Content Type(s): Publications, Bank of Canada Review articles Research Topic(s): Central bank research, Inflation and prices, Inflation: costs and benefits, Sectoral balance sheet