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How to Set Up A Cash Buffer
			: A Practical Guide to Developing and Implementing a Cash Buffer Policy

How to Set Up A Cash Buffer : A Practical Guide to Developing and Implementing a Cash Buffer Policy »

Volume/Issue: 2020/004

Series: IMF How To Notes

Author(s): Yasemin Hurcan , Emre Balibek , and Fato? Koç

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 December 2020

DOI: http://dx.doi.org/10.5089/9781513563848.061

ISBN: 9781513563848

Keywords: Government cash forecasting, Currencies, Government cash management, Government debt management, Treasury Single Account, FADHTN, HTN, cash balance, opportunity cost, annual debt service

Maintaining a cash buffer has emerged as a risk management tool for government cash and debt management. During budget execution, there is considerable cash flow volatility and timing mismatches concerning revenue...

How to Set Up A Cash Buffer

How to Set Up A Cash Buffer »

Source: How to Set Up A Cash Buffer : A Practical Guide to Developing and Implementing a Cash Buffer Policy

Volume/Issue: 2020/004

Series: IMF How To Notes

Author(s): Yasemin Hurcan , Emre Balibek , and Fato? Koç

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 December 2020

ISBN: 9781513563848

Keywords: Government cash forecasting, Currencies, Government cash management, Government debt management, Treasury Single Account, FADHTN, HTN, cash balance, opportunity cost, annual debt service

Maintaining a cash buffer has emerged as a risk management tool for government cash and debt management. During budget execution, there is considerable cash flow volatility and timing mismatches concerning revenue...

Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Considerations

Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Considerations »

Volume/Issue: 2020/254

Series: IMF Working Papers

Author(s): Wouter Bossu , Masaru Itatani , Catalina Margulis , Arthur D. P. Rossi , Hans Weenink , and Akihiro Yoshinaga

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 2020

DOI: http://dx.doi.org/10.5089/9781513561622.001

ISBN: 9781513561622

Keywords: Central Bank digital currencies, Currencies, Central bank legislation, Legal support in revenue administration, Payment systems, Central Bank Digital Currency, CBDC, Blockchain, Cryptocurrency, Crypto assets

This paper analyzes the legal foundations of central bank digital currency (CBDC) under central bank and monetary law. Absent strong legal foundations, the issuance of CBDC poses legal, financial and reputational r...

Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Considerations

Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Considerations »

Source: Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Considerations

Volume/Issue: 2020/254

Series: IMF Working Papers

Author(s): Wouter Bossu , Masaru Itatani , Catalina Margulis , Arthur D. P. Rossi , Hans Weenink , and Akihiro Yoshinaga

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 November 2020

ISBN: 9781513561622

Keywords: Central Bank digital currencies, Currencies, Central bank legislation, Legal support in revenue administration, Payment systems, Central Bank Digital Currency, CBDC, Blockchain, Cryptocurrency, Crypto assets

This paper analyzes the legal foundations of central bank digital currency (CBDC) under central bank and monetary law. Absent strong legal foundations, the issuance of CBDC poses legal, financial and reputational r...

An Apocalypse Foretold: Climate Shocks and Sovereign Defaults

An Apocalypse Foretold: Climate Shocks and Sovereign Defaults »

Source: An Apocalypse Foretold: Climate Shocks and Sovereign Defaults

Volume/Issue: 2020/231

Series: IMF Working Papers

Author(s): Serhan Cevik , and João Tovar Jalles

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2020

ISBN: 9781513560403

Keywords: Climate change, Debt default, Public debt, Real effective exchange rates, Financial sector development, vulnerability, resilience, government debt, sovereign default, WP

Climate change poses an existential threat to the global economy. While there is a growing body of literature on the economic consequences of climate change, research on the link between climate change and sovereig...

An Apocalypse Foretold: Climate Shocks and Sovereign Defaults

An Apocalypse Foretold: Climate Shocks and Sovereign Defaults »

Volume/Issue: 2020/231

Series: IMF Working Papers

Author(s): Serhan Cevik , and João Tovar Jalles

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2020

DOI: http://dx.doi.org/10.5089/9781513560403.001

ISBN: 9781513560403

Keywords: Climate change, Debt default, Public debt, Real effective exchange rates, Financial sector development, vulnerability, resilience, government debt, sovereign default, WP

Climate change poses an existential threat to the global economy. While there is a growing body of literature on the economic consequences of climate change, research on the link between climate change and sovereig...

COVID-19 and the CPI: Is Inflation Underestimated?

COVID-19 and the CPI: Is Inflation Underestimated? »

Source: COVID-19 and the CPI: Is Inflation Underestimated?

Volume/Issue: 2020/224

Series: IMF Working Papers

Author(s): Marshall Reinsdorf

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 November 2020

ISBN: 9781513560281

Keywords: Consumer price indexes, COVID-19 , Inflation, Transportation, Housing, inflation measurement, Consumer Price Index, CPI, WP, CPI weight

COVID-19 changed consumers' spending patterns, making the CPI weights suddenly obsolete. In most regions, adjusting the CPI weights to account for the changes in spending patterns increases the estimate of inflatio...

COVID-19 and the CPI: Is Inflation Underestimated?

COVID-19 and the CPI: Is Inflation Underestimated? »

Volume/Issue: 2020/224

Series: IMF Working Papers

Author(s): Marshall Reinsdorf

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 November 2020

DOI: http://dx.doi.org/10.5089/9781513560281.001

ISBN: 9781513560281

Keywords: Consumer price indexes, COVID-19 , Inflation, Transportation, Housing, inflation measurement, Consumer Price Index, CPI, WP, CPI weight

COVID-19 changed consumers' spending patterns, making the CPI weights suddenly obsolete. In most regions, adjusting the CPI weights to account for the changes in spending patterns increases the estimate of inflatio...

Distributed Ledger Technology Experiments in Payments and Settlements

Distributed Ledger Technology Experiments in Payments and Settlements »

Source: Distributed Ledger Technology Experiments in Payments and Settlements

Volume: 20

Series: FinTech Notes

Author(s): Ghiath Shabsigh , Tanai Khiaonarong , and Harry Leinonen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2020

ISBN: 9781513536330

Keywords: Payment systems, Securities, Clearing and settlement systems, Cross-border banking, Risk management, Liquidity risk management, Liquidity risk, Credit risk, Operational risk, Economic stability

Major transformations in payment and settlements have occurred in generations. The first generation was paper-based. Delivery times for payment instruments took several days domestically and weeks internationally....

Distributed Ledger Technology Experiments in Payments and Settlements

Distributed Ledger Technology Experiments in Payments and Settlements »

Volume: 20

Series: FinTech Notes

Author(s): Ghiath Shabsigh , Tanai Khiaonarong , and Harry Leinonen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2020

DOI: http://dx.doi.org/10.5089/9781513536330.063

ISBN: 9781513536330

Keywords: Payment systems, Securities, Clearing and settlement systems, Cross-border banking, Risk management, Liquidity risk management, Liquidity risk, Credit risk, Operational risk, Economic stability

Major transformations in payment and settlements have occurred in generations. The first generation was paper-based. Delivery times for payment instruments took several days domestically and weeks internationally....

Tax Elasticity Estimates for Capital Stocks in Canada

Tax Elasticity Estimates for Capital Stocks in Canada »

Volume/Issue: 2020/77

Series: IMF Working Papers

Author(s): Jean-François Wen , Fatih Yilmaz , and Danea Trejo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 May 2020

DOI: http://dx.doi.org/10.5089/9781513545981.001

ISBN: 9781513545981

Keywords: Economic conditions, Price indexes, Economic growth, Business cycles, Capital formation, Capital Taxation, User Cost of Capital Elasticity, Marginal Effective Tax Rate, WP, UCE

The paper provides estimates of the long-run, tax-adjusted, user cost elasticity of capital (UCE) in a small open economy, exploiting three sources of variation in Canadian tax policy: across provinces, industries,...

Tax Elasticity Estimates for Capital Stocks in Canada

Tax Elasticity Estimates for Capital Stocks in Canada »

Source: Tax Elasticity Estimates for Capital Stocks in Canada

Volume/Issue: 2020/77

Series: IMF Working Papers

Author(s): Jean-François Wen , Fatih Yilmaz , and Danea Trejo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 May 2020

ISBN: 9781513545981

Keywords: Economic conditions, Price indexes, Economic growth, Business cycles, Capital formation, Capital Taxation, User Cost of Capital Elasticity, Marginal Effective Tax Rate, WP, UCE

The paper provides estimates of the long-run, tax-adjusted, user cost elasticity of capital (UCE) in a small open economy, exploiting three sources of variation in Canadian tax policy: across provinces, industries,...

Implementation Plan in Response to the Board-Endorsed Recommendations from the IEO Evaluation Report on IMF Advice on Unconventional Monetary Policies

Implementation Plan in Response to the Board-Endorsed Recommendations from the IEO Evaluation Report on IMF Advice on Unconventional Monetary Policies »

Volume: 20

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2020

DOI: http://dx.doi.org/10.5089/9781513545424.007

ISBN: 9781513545424

Keywords: Negative interest rates, Monetary policy, Central banks, Exchange policy, Central bank policy, PP, proposed action, IEO, spillover, playbook

This Management Implementation Plan was prepared before COVID-19 became a global pandemic and resulted in unprecedented strains in global trade, commodity and financial markets. The actions in the plan and their ti...

Implementation Plan in Response to the Board-Endorsed Recommendations from the IEO Evaluation Report on IMF Advice on Unconventional Monetary Policies

Implementation Plan in Response to the Board-Endorsed Recommendations from the IEO Evaluation Report on IMF Advice on Unconventional Monetary Policies »

Source: Implementation Plan in Response to the Board-Endorsed Recommendations from the IEO Evaluation Report on IMF Advice on Unconventional Monetary Policies

Volume: 20

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2020

ISBN: 9781513545424

Keywords: Negative interest rates, Monetary policy, Central banks, Exchange policy, Central bank policy, PP, proposed action, IEO, spillover, playbook

This Management Implementation Plan was prepared before COVID-19 became a global pandemic and resulted in unprecedented strains in global trade, commodity and financial markets. The actions in the plan and their ti...

Implementation Plan in Response to The Board-Endorsed Recommendations From The IEO Evaluation Report on IMF Advice on Unconventional Monetary Policies

Implementation Plan in Response to The Board-Endorsed Recommendations From The IEO Evaluation Report on IMF Advice on Unconventional Monetary Policies »

Volume: 20

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 April 2020

DOI: http://dx.doi.org/10.5089/9781513542188.007

ISBN: 9781513542188

Keywords: Negative interest rates, Central banks, Monetary policy, Financial crises, Central bank policy, PP, proposed action, IEO, spillover, playbook

The Management Implementation Plan was prepared before COVID-19 became a global pandemic and resulted in unprecedented strains in global trade, commodity, and financial markets. The actions in this plan and their t...

Implementation Plan in Response to The Board-Endorsed Recommendations From The IEO Evaluation Report on IMF Advice on Unconventional Monetary Policies

Implementation Plan in Response to The Board-Endorsed Recommendations From The IEO Evaluation Report on IMF Advice on Unconventional Monetary Policies »

Source: Implementation Plan in Response to The Board-Endorsed Recommendations From The IEO Evaluation Report on IMF Advice on Unconventional Monetary Policies

Volume: 20

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 April 2020

ISBN: 9781513542188

Keywords: Negative interest rates, Central banks, Monetary policy, Financial crises, Central bank policy, PP, proposed action, IEO, spillover, playbook

The Management Implementation Plan was prepared before COVID-19 became a global pandemic and resulted in unprecedented strains in global trade, commodity, and financial markets. The actions in this plan and their t...

Canada

Canada »

Source: Canada : Financial Sector Assessment Program-Technical Note-Stress Testing and Financial Stability Analysis

Volume/Issue: 2020/016

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

ISBN: 9781513527116

This paper on Financial Safety Net and Crisis Management for the Canada reviews the stress testing and financial stability analysis. The paper highlights that the financial system's performance has been strong. The...

Canada

Canada »

Source: Canada : Financial Sector Assessment Program-Technical Note-Housing Finance

Volume/Issue: 2020/017

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

ISBN: 9781513527147

Keywords: Mortgages, Insurance, Housing prices, Credit risk, Residential mortgages, ISCR, CR, risk weight, mortgage lending, MFC mortgage financing

This Technical Note on Financial Safety Net and Crisis Management for the Canada focuses on housing finance. Housing finance is broadly resilient, but pockets of vulnerabilities exist. Mortgage finance is dominated...

Canada

Canada »

Source: Canada : Financial Sector Assessment Program-Technical Note-Insurance Sector: Regulation and Supervision

Volume/Issue: 2020/021

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

ISBN: 9781513527208

Keywords: Insurance companies, Insurance, Mortgages, Capital adequacy requirements, International Financial Reporting Standards, ISCR, CR, mortgage insurer, capital ratio, mortgage insurance

This chapter on Financial Safety Net and Crisis Management for the Canada reviews the insurance sector's regulation and supervision. The paper highlights that Canada has a highly developed insurance market that is...

Canada

Canada »

Source: Canada : Financial Sector Assessment Program-Technical Note-Oversight of Financial Market Infrastructures and Fintech Development

Volume/Issue: 2020/022

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

ISBN: 9781513527222

Keywords: PFM information systems, Payment systems, Securities, Virtual currencies, Liquidity risk, ISCR, CR, BOC governor, FMI operator, CSA authorities

This paper reviews assessment of financial market infrastructures (FMIs) and authorities' responsibilities in Canada. The report shows that the FMIs have operated normally under a well-established legal and oversig...

Canada

Canada »

Source: Canada : Financial Sector Assessment Program-Technical Note-Bank Resolution and Crisis Management

Volume/Issue: 2020/023

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

ISBN: 9781513527246

Keywords: Bank resolution framework, Deposit insurance, Contingency planning, Crisis resolution, Crisis management, ISCR, CR, resolution regime, government authorization, resolution authority

This Technical Note on Financial Safety Net and Crisis Management for the Canada presents the findings and recommendations made in the Financial Sector Assessment Program for Canada in the areas of bank resolution...

Canada

Canada »

Source: Canada : Financial Sector Assessment Program-Technical Note-Deposit-taking Sector: Regulation and Supervision

Volume/Issue: 2020/020

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

ISBN: 9781513527192

Keywords: Credit bureaus, Mortgages, Basel Core Principles, Financial services, Operational risk, ISCR, CR, credit risk, housing market, Canadian dollar

The Technical Note focuses on sizeable mortgage exposures and persistent housing market imbalances. The review evaluated oversight of deposit-taking institutions (DTIs) in federal jurisdiction, as well as in Britis...

Canada

Canada »

Source: Canada : Financial Sector Assessment Program-Technical Note-Systemic Liquidity

Volume/Issue: 2020/018

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

ISBN: 9781513527161

Keywords: Liquidity, Collateral, Lender of last resort, Securities markets, Securities, ISCR, CR, liquidity support, bond market, ELA framework

This Technical Note on Financial Safety Net and Crisis Management for the Canada examines systematic liquidity issues. The review evaluated the Bank of Canada's (BOC's) operational framework and its ability to mana...

Canada

Canada »

Source: Canada : Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight and Macroprudential Policy

Volume/Issue: 2020/019

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

ISBN: 9781513527185

Keywords: Systemic risk, Mortgages, Housing prices, Insurance, Systemic risk assessment, ISCR, CR, BOC staff, credit growth, nonbank lender

This Technical Note provides a summary of the review of systemic risk oversight arrangements and macroprudential policy issues in Canada. The paper discusses the existing systemic risk oversight arrangements and po...

Canada
			: Financial Sector Assessment Program-Technical Note-Bank Resolution and Crisis Management

Canada : Financial Sector Assessment Program-Technical Note-Bank Resolution and Crisis Management »

Volume/Issue: 2020/023

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

DOI: http://dx.doi.org/10.5089/9781513527246.002

ISBN: 9781513527246

Keywords: Bank resolution framework, Deposit insurance, Contingency planning, Crisis resolution, Crisis management, ISCR, CR, resolution regime, government authorization, resolution authority

This Technical Note on Financial Safety Net and Crisis Management for the Canada presents the findings and recommendations made in the Financial Sector Assessment Program for Canada in the areas of bank resolution...

Canada
			: Financial Sector Assessment Program-Technical Note-Deposit-taking Sector: Regulation and Supervision

Canada : Financial Sector Assessment Program-Technical Note-Deposit-taking Sector: Regulation and Supervision »

Volume/Issue: 2020/020

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

DOI: http://dx.doi.org/10.5089/9781513527192.002

ISBN: 9781513527192

Keywords: Credit bureaus, Mortgages, Basel Core Principles, Financial services, Operational risk, ISCR, CR, credit risk, housing market, Canadian dollar

The Technical Note focuses on sizeable mortgage exposures and persistent housing market imbalances. The review evaluated oversight of deposit-taking institutions (DTIs) in federal jurisdiction, as well as in Britis...

Canada
			: Financial Sector Assessment Program-Technical Note-Housing Finance

Canada : Financial Sector Assessment Program-Technical Note-Housing Finance »

Volume/Issue: 2020/017

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

DOI: http://dx.doi.org/10.5089/9781513527147.002

ISBN: 9781513527147

Keywords: Mortgages, Insurance, Housing prices, Credit risk, Residential mortgages, ISCR, CR, risk weight, mortgage lending, MFC mortgage financing

This Technical Note on Financial Safety Net and Crisis Management for the Canada focuses on housing finance. Housing finance is broadly resilient, but pockets of vulnerabilities exist. Mortgage finance is dominated...

Canada
			: Financial Sector Assessment Program-Technical Note-Insurance Sector: Regulation and Supervision

Canada : Financial Sector Assessment Program-Technical Note-Insurance Sector: Regulation and Supervision »

Volume/Issue: 2020/021

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

DOI: http://dx.doi.org/10.5089/9781513527208.002

ISBN: 9781513527208

Keywords: Insurance companies, Insurance, Mortgages, Capital adequacy requirements, International Financial Reporting Standards, ISCR, CR, mortgage insurer, capital ratio, mortgage insurance

This chapter on Financial Safety Net and Crisis Management for the Canada reviews the insurance sector's regulation and supervision. The paper highlights that Canada has a highly developed insurance market that is...

Canada
			: Financial Sector Assessment Program-Technical Note-Oversight of Financial Market Infrastructures and Fintech Development

Canada : Financial Sector Assessment Program-Technical Note-Oversight of Financial Market Infrastructures and Fintech Development »

Volume/Issue: 2020/022

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

DOI: http://dx.doi.org/10.5089/9781513527222.002

ISBN: 9781513527222

Keywords: PFM information systems, Payment systems, Securities, Virtual currencies, Liquidity risk, ISCR, CR, BOC governor, FMI operator, CSA authorities

This paper reviews assessment of financial market infrastructures (FMIs) and authorities' responsibilities in Canada. The report shows that the FMIs have operated normally under a well-established legal and oversig...

Canada
			: Financial Sector Assessment Program-Technical Note-Stress Testing and Financial Stability Analysis

Canada : Financial Sector Assessment Program-Technical Note-Stress Testing and Financial Stability Analysis »

Volume/Issue: 2020/016

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

DOI: http://dx.doi.org/10.5089/9781513527116.002

ISBN: 9781513527116

This paper on Financial Safety Net and Crisis Management for the Canada reviews the stress testing and financial stability analysis. The paper highlights that the financial system's performance has been strong. The...

Canada
			: Financial Sector Assessment Program-Technical Note-Systemic Liquidity

Canada : Financial Sector Assessment Program-Technical Note-Systemic Liquidity »

Volume/Issue: 2020/018

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

DOI: http://dx.doi.org/10.5089/9781513527161.002

ISBN: 9781513527161

Keywords: Liquidity, Collateral, Lender of last resort, Securities markets, Securities, ISCR, CR, liquidity support, bond market, ELA framework

This Technical Note on Financial Safety Net and Crisis Management for the Canada examines systematic liquidity issues. The review evaluated the Bank of Canada's (BOC's) operational framework and its ability to mana...

Canada
			: Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight and Macroprudential Policy

Canada : Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight and Macroprudential Policy »

Volume/Issue: 2020/019

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 January 2020

DOI: http://dx.doi.org/10.5089/9781513527185.002

ISBN: 9781513527185

Keywords: Systemic risk, Mortgages, Housing prices, Insurance, Systemic risk assessment, ISCR, CR, BOC staff, credit growth, nonbank lender

This Technical Note provides a summary of the review of systemic risk oversight arrangements and macroprudential policy issues in Canada. The paper discusses the existing systemic risk oversight arrangements and po...

How Do Member Countries Receive IMF Policy Advice: Results from a State-of-the-art Sentiment Index1

How Do Member Countries Receive IMF Policy Advice: Results from a State-of-the-art Sentiment Index1 »

Source: How Do Member Countries Receive IMF Policy Advice: Results from a State-of-the-art Sentiment Index

Volume/Issue: 2020/7

Series: IMF Working Papers

Author(s): Ghada Fayad , Chengyu Huang , Yoko Shibuya , and Peng Zhao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 January 2020

ISBN: 9781513526010

Keywords: Fiscal sector, External sector, Economic conditions, Real sector, Commodity price indexes, IMF, Surveillance, Economic Policy, Sentiment Analysis, Natural Language Processing

This paper applies state-of-the-art deep learning techniques to develop the first sentiment index measuring member countries' reception of IMF policy advice at the time of Article IV Consultations. This paper finds...

How Do Member Countries Receive IMF Policy Advice: Results from a State-of-the-art Sentiment Index

How Do Member Countries Receive IMF Policy Advice: Results from a State-of-the-art Sentiment Index »

Volume/Issue: 2020/7

Series: IMF Working Papers

Author(s): Ghada Fayad , Chengyu Huang , Yoko Shibuya , and Peng Zhao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 January 2020

DOI: http://dx.doi.org/10.5089/9781513526010.001

ISBN: 9781513526010

Keywords: Fiscal sector, External sector, Economic conditions, Real sector, Commodity price indexes, IMF, Surveillance, Economic Policy, Sentiment Analysis, Natural Language Processing

This paper applies state-of-the-art deep learning techniques to develop the first sentiment index measuring member countries' reception of IMF policy advice at the time of Article IV Consultations. This paper finds...

Assessing House Prices in Canada1

Assessing House Prices in Canada1 »

Source: Assessing House Prices in Canada

Volume/Issue: 2019/248

Series: IMF Working Papers

Author(s): Michal Andrle , and Miroslav Plašil

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 November 2019

ISBN: 9781513519180

Keywords: Interest rates, Index numbers, Market interest rates, Financial crises, Interest rate increases, house prices, borrowing capacity, valuation, financial stability, WP

This paper assesses house prices in 11 Canadian Census Metropolitan Areas (CMA) using the borrowing-capacity and the net-present-value approaches. The results indicate that by the end of 2018, house prices in most...

Assessing House Prices in Canada

Assessing House Prices in Canada »

Volume/Issue: 2019/248

Series: IMF Working Papers

Author(s): Michal Andrle , and Miroslav Plašil

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 November 2019

DOI: http://dx.doi.org/10.5089/9781513519180.001

ISBN: 9781513519180

Keywords: Interest rates, Index numbers, Market interest rates, Financial crises, Interest rate increases, house prices, borrowing capacity, valuation, financial stability, WP

This paper assesses house prices in 11 Canadian Census Metropolitan Areas (CMA) using the borrowing-capacity and the net-present-value approaches. The results indicate that by the end of 2018, house prices in most...

How to Improve Inflation Forecasting in Canada

How to Improve Inflation Forecasting in Canada »

Source: How to Improve Inflation Forecasting in Canada

Volume/Issue: 2019/190

Series: IMF Working Papers

Author(s): Troy Matheson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 September 2019

ISBN: 9781513509396

Keywords: Real interest rates, Financial crises, Inflation rates, Inflation expectations, Monetary policy, Inflation, inflation targeting, real-time data, forecast errors, WP

Against the backdrop of an ongoing review of the inflation-targeting framework, this paper examines the real-time inflation forecasts of the Bank of Canada with the aim of identifying potential areas for improvemen...

How to Improve Inflation Forecasting in Canada

How to Improve Inflation Forecasting in Canada »

Volume/Issue: 2019/190

Series: IMF Working Papers

Author(s): Troy Matheson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 September 2019

DOI: http://dx.doi.org/10.5089/9781513509396.001

ISBN: 9781513509396

Keywords: Real interest rates, Financial crises, Inflation rates, Inflation expectations, Monetary policy, Inflation, inflation targeting, real-time data, forecast errors, WP

Against the backdrop of an ongoing review of the inflation-targeting framework, this paper examines the real-time inflation forecasts of the Bank of Canada with the aim of identifying potential areas for improvemen...

Internal Trade in Canada: Case for Liberalization

Internal Trade in Canada: Case for Liberalization »

Volume/Issue: 2019/158

Series: IMF Working Papers

Author(s): Jorge Alvarez , Ivo Krznar , and Trevor Tombe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 July 2019

DOI: http://dx.doi.org/10.5089/9781498326650.001

ISBN: 9781498326650

Keywords: International trade agreements, Total factor productivity, Bilateral trade, Comparative advantage, Patterns of trade, Internal trade, gains from trade, input-output linkages, Canada, trade cost

This paper assesses the costs of internal trade barriers and proposes policies to improve internal trade. Estimates suggest that complete liberalization of internal trade in goods can increase GDP per capita by abo...

Internal Trade in Canada: Case for Liberalization1

Internal Trade in Canada: Case for Liberalization1 »

Source: Internal Trade in Canada: Case for Liberalization

Volume/Issue: 2019/158

Series: IMF Working Papers

Author(s): Jorge Alvarez , Ivo Krznar , and Trevor Tombe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 July 2019

ISBN: 9781498326650

Keywords: International trade agreements, Total factor productivity, Bilateral trade, Comparative advantage, Patterns of trade, Internal trade, gains from trade, input-output linkages, Canada, trade cost

This paper assesses the costs of internal trade barriers and proposes policies to improve internal trade. Estimates suggest that complete liberalization of internal trade in goods can increase GDP per capita by abo...

Canada

Canada »

Source: Canada : Financial System Stability Assessment

Volume/Issue: 2019/177

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2019

ISBN: 9781498321112

Keywords: Financial soundness indicators, Financial statistics, Systemically important financial institutions, Real sector, Financial crises, Financial management, Financial markets, Haver, life insurer, deposit-taking

This Financial System Stability Assessment paper discusses that Canada has enjoyed favorable macroeconomic outcomes over the past decades, and its vibrant financial system continues to grow robustly. However, macro...

Canada: 2019 Article IV Consultation—Press Release; and Staff Report

Canada: 2019 Article IV Consultation—Press Release; and Staff Report »

Source: Canada : 2019 Article IV Consultation - Press Release; and Staff Report

Volume/Issue: 2019/175

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2019

ISBN: 9781498321006

Keywords: Fiscal policy, Fiscal indicators, Balance of payments, External sector, Real sector, trade tension, business investment, Haver, bank of Canada, net debt

Growth has slowed to a more sustainable level and financial vulnerabilities have eased. But risks remain. Household debt is high, the United States-Mexico-Canada Agreement (USMCA) awaits legislative approval, and o...

Canada: Selected Issues Paper

Canada: Selected Issues Paper »

Source: Canada : Selected Issues

Volume/Issue: 2019/176

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2019

ISBN: 9781498321037

Keywords: Interest rates, Monetary policy, Interest rate increases, Financial crises, Real interest rates, output gap, core inflation, trade cost, internal trade barrier, internal trade

Selected Issues...

Canada: Selected Issues Paper

Canada: Selected Issues Paper »

Source: Canada : Selected Issues

Volume/Issue: 2019/176

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2019

ISBN: 9781498321037

Keywords: Interest rates, Monetary policy, Interest rate increases, Financial crises, Real interest rates, output gap, core inflation, trade cost, internal trade barrier, internal trade

Selected Issues...

Canada: Selected Issues Paper

Canada: Selected Issues Paper »

Source: Canada : Selected Issues

Volume/Issue: 2019/176

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2019

ISBN: 9781498321037

Keywords: Interest rates, Monetary policy, Interest rate increases, Financial crises, Real interest rates, output gap, core inflation, trade cost, internal trade barrier, internal trade

Selected Issues...

Canada: Staff Report for the 2019 Article IV Consultation—Informational Annex

Canada: Staff Report for the 2019 Article IV Consultation—Informational Annex »

Source: Canada : 2019 Article IV Consultation - Press Release; and Staff Report

Volume/Issue: 2019/175

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2019

ISBN: 9781498321006

Keywords: Fiscal policy, Fiscal indicators, Balance of payments, External sector, Real sector, trade tension, business investment, Haver, bank of Canada, net debt

Growth has slowed to a more sustainable level and financial vulnerabilities have eased. But risks remain. Household debt is high, the United States-Mexico-Canada Agreement (USMCA) awaits legislative approval, and o...

IMF Executive Board Concludes 2019 Article IV Consultation with Canada

IMF Executive Board Concludes 2019 Article IV Consultation with Canada »

Source: Canada : 2019 Article IV Consultation - Press Release; and Staff Report

Volume/Issue: 2019/175

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2019

ISBN: 9781498321006

Keywords: Fiscal policy, Fiscal indicators, Balance of payments, External sector, Real sector, trade tension, business investment, Haver, bank of Canada, net debt

Growth has slowed to a more sustainable level and financial vulnerabilities have eased. But risks remain. Household debt is high, the United States-Mexico-Canada Agreement (USMCA) awaits legislative approval, and o...

Canada
			: 2019 Article IV Consultation - Press Release; and Staff Report

Canada : 2019 Article IV Consultation - Press Release; and Staff Report »

Volume/Issue: 2019/175

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2019

DOI: http://dx.doi.org/10.5089/9781513512525.002

ISBN: 9781498321006

Keywords: Fiscal policy, Fiscal indicators, Balance of payments, External sector, Real sector, trade tension, business investment, Haver, bank of Canada, net debt

Growth has slowed to a more sustainable level and financial vulnerabilities have eased. But risks remain. Household debt is high, the United States-Mexico-Canada Agreement (USMCA) awaits legislative approval, and o...

Canada
			: Financial System Stability Assessment

Canada : Financial System Stability Assessment »

Volume/Issue: 2019/177

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2019

DOI: http://dx.doi.org/10.5089/9781498321112.002

ISBN: 9781498321112

Keywords: Financial soundness indicators, Financial statistics, Systemically important financial institutions, Real sector, Financial crises, Financial management, Financial markets, Haver, life insurer, deposit-taking

This Financial System Stability Assessment paper discusses that Canada has enjoyed favorable macroeconomic outcomes over the past decades, and its vibrant financial system continues to grow robustly. However, macro...

Canada
			: Selected Issues

Canada : Selected Issues »

Volume/Issue: 2019/176

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 June 2019

DOI: http://dx.doi.org/10.5089/9781498321037.002

ISBN: 9781498321037

Keywords: Interest rates, Monetary policy, Interest rate increases, Financial crises, Real interest rates, output gap, core inflation, trade cost, internal trade barrier, internal trade

Selected Issues...

Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries1

Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries1 »

Source: Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries

Volume/Issue: 2019/4

Series: IMF Working Papers

Author(s): Bernardin Akitoby , Jiro Honda , and Hiroaki Miyamoto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 January 2019

ISBN: 9781484390054

Keywords: Italy, Japan, Germany, Europe, Canada, Asia and Pacific, France, United Kingdom, United States, Western Hemisphere

Would countercyclical fiscal policy during recessions improve or worsen the gender employment gap? We give an answer to this question by exploring the state-dependent impact of fiscal spending shocks on employment...

Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries

Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries »

Volume/Issue: 2019/4

Series: IMF Working Papers

Author(s): Bernardin Akitoby , Jiro Honda , and Hiroaki Miyamoto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 January 2019

DOI: http://dx.doi.org/10.5089/9781484390054.001

ISBN: 9781484390054

Keywords: Italy, Japan, Germany, Europe, Canada, Asia and Pacific, France, United Kingdom, United States, Western Hemisphere

Would countercyclical fiscal policy during recessions improve or worsen the gender employment gap? We give an answer to this question by exploring the state-dependent impact of fiscal spending shocks on employment...

Balancing Financial Stability and Housing Affordability: The Case of Canada

Balancing Financial Stability and Housing Affordability: The Case of Canada »

Volume/Issue: 2018/237

Series: IMF Working Papers

Author(s): Troy Matheson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 November 2018

DOI: http://dx.doi.org/10.5089/9781484381236.001

ISBN: 9781484381236

Keywords: Macroprudential policies and financial stability, Housing prices, Property taxes, General equilibrium models, Business cycles, Price indexes, Consumption, Interest rates on loans, Central bank policy, DSGE model

Housing market imbalances are a key source of systemic risk and can adversely affect housing affordability. This paper utilizes a stylized model of the Canadian economy that includes policymakers with differing obj...

Balancing Financial Stability and Housing Affordability: The Case of Canada

Balancing Financial Stability and Housing Affordability: The Case of Canada »

Source: Balancing Financial Stability and Housing Affordability: The Case of Canada

Volume/Issue: 2018/237

Series: IMF Working Papers

Author(s): Troy Matheson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 November 2018

ISBN: 9781484381236

Keywords: Macroprudential policies and financial stability, Housing prices, Property taxes, General equilibrium models, Business cycles, Price indexes, Consumption, Interest rates on loans, Central bank policy, DSGE model

Housing market imbalances are a key source of systemic risk and can adversely affect housing affordability. This paper utilizes a stylized model of the Canadian economy that includes policymakers with differing obj...

Canada: Selected Issues

Canada: Selected Issues »

Source: Canada : Selected Issues

Volume/Issue: 2018/222

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2018

ISBN: 9781484368398

Keywords: Canada, Western Hemisphere

Selected Issues...

Canada: Selected Issues

Canada: Selected Issues »

Source: Canada : Selected Issues

Volume/Issue: 2018/222

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2018

ISBN: 9781484368398

Keywords: Canada, Western Hemisphere

Selected Issues...

Canada: Selected Issues

Canada: Selected Issues »

Source: Canada : Selected Issues

Volume/Issue: 2018/222

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2018

ISBN: 9781484368398

Keywords: Canada, Western Hemisphere

Selected Issues...

Canada: Selected Issues

Canada: Selected Issues »

Source: Canada : Selected Issues

Volume/Issue: 2018/222

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2018

ISBN: 9781484368398

Keywords: Canada, Western Hemisphere

Selected Issues...

Canada: Staff Report for the 2018 Article IV Consultation

Canada: Staff Report for the 2018 Article IV Consultation »

Source: Canada : 2018 Article IV Consultation-Press-Release; Staff Report; and Statement by the Executive Director for Canada

Volume/Issue: 2018/221

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2018

ISBN: 9781484368121

Keywords: Western Hemisphere, Canada

The economy has continued to perform well, but trade tensions, uncertainty about the outcome of NAFTA negotiations and the impact of the U.S. Tax Cuts and Jobs Act on Canada's competitiveness are casting a shadow o...

Canada: Staff Report for the 2018 Article IV Consultation—Informational Annex

Canada: Staff Report for the 2018 Article IV Consultation—Informational Annex »

Source: Canada : 2018 Article IV Consultation-Press-Release; Staff Report; and Statement by the Executive Director for Canada

Volume/Issue: 2018/221

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2018

ISBN: 9781484368121

Keywords: Western Hemisphere, Canada

The economy has continued to perform well, but trade tensions, uncertainty about the outcome of NAFTA negotiations and the impact of the U.S. Tax Cuts and Jobs Act on Canada's competitiveness are casting a shadow o...

IMF Executive Board Concludes 2018 Article IV Consultation with Canada

IMF Executive Board Concludes 2018 Article IV Consultation with Canada »

Source: Canada : 2018 Article IV Consultation-Press-Release; Staff Report; and Statement by the Executive Director for Canada

Volume/Issue: 2018/221

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2018

ISBN: 9781484368121

Keywords: Western Hemisphere, Canada

The economy has continued to perform well, but trade tensions, uncertainty about the outcome of NAFTA negotiations and the impact of the U.S. Tax Cuts and Jobs Act on Canada's competitiveness are casting a shadow o...

Canada
			: 2018 Article IV Consultation-Press-Release; Staff Report; and Statement by the Executive Director for Canada

Canada : 2018 Article IV Consultation-Press-Release; Staff Report; and Statement by the Executive Director for Canada »

Volume/Issue: 2018/221

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2018

DOI: http://dx.doi.org/10.5089/9781484368121.002

ISBN: 9781484368121

Keywords: Western Hemisphere, Canada

The economy has continued to perform well, but trade tensions, uncertainty about the outcome of NAFTA negotiations and the impact of the U.S. Tax Cuts and Jobs Act on Canada's competitiveness are casting a shadow o...

Canada
			: Selected Issues

Canada : Selected Issues »

Volume/Issue: 2018/222

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2018

DOI: http://dx.doi.org/10.5089/9781484368398.002

ISBN: 9781484368398

Keywords: Canada, Western Hemisphere

Selected Issues...

Statement by the Staff Representative on the Canada July 13, 2018

Statement by the Staff Representative on the Canada July 13, 2018 »

Source: Canada : 2018 Article IV Consultation-Press-Release; Staff Report; and Statement by the Executive Director for Canada

Volume/Issue: 2018/221

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 July 2018

ISBN: 9781484368121

Keywords: Western Hemisphere, Canada

The economy has continued to perform well, but trade tensions, uncertainty about the outcome of NAFTA negotiations and the impact of the U.S. Tax Cuts and Jobs Act on Canada's competitiveness are casting a shadow o...

Advancing the Frontiers of Monetary Policy

Advancing the Frontiers of Monetary Policy »

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

DOI: http://dx.doi.org/10.5089/9781484325940.071

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

Inflation-forecast targeting is state of the art for monetary policy. This book explores first principles, including managing short-term policy trade-offs. The book also...

Back Matter

Back Matter »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

Inflation-forecast targeting is state of the art for monetary policy. This book explores first principles, including managing short-term policy trade-offs. The book also...

Front Matter

Front Matter »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

Inflation-forecast targeting is state of the art for monetary policy. This book explores first principles, including managing short-term policy trade-offs. The book also...

Chapter 14. A Robust and Adaptable Nominal Anchor

Chapter 14. A Robust and Adaptable Nominal Anchor »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

Even if it is now all too evident that the stabilization of inflation and inflation expectations does not by itself guarantee that macroeconomic i...

Chapter 1. An Overview of Inflation-Forecast Targeting

Chapter 1. An Overview of Inflation-Forecast Targeting »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

In 1990, the Reserve Bank of New Zealand became the first central bank to announce an inflation target, followed a year later by the Bank of Canada. This was a significant step towa...

Chapter 9. Canada: A Well-Established System

Chapter 9. Canada: A Well-Established System »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

WHEREAS it is desirable to establish a central bank in Canada to regulate credit and currency in the best interests of the economic life of the na...

Chapter 10. Czech Republic: Transition to the Frontier

Chapter 10. Czech Republic: Transition to the Frontier »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

The Czech experience with inflation targeting thus illustrates that the ultimate purpose of inflation targeting is not to announce inflation targe...

Chapter 7. Financial Conditions

Chapter 7. Financial Conditions »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

Financial conditions are important. They matter enormously to monetary policy because their movements can often diverge from the trajectory of sho...

Chapter 2. First Principles

Chapter 2. First Principles »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

Inflation targeting implies inflation-forecast targeting. —L. E. O. Svensson (1997) In...

Chapter 11. India: Stabilizing Inflation

Chapter 11. India: Stabilizing Inflation »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

The nominal anchor should be communicated without ambiguity, so as to ensure a monetary policy regime shift away from the current approach to one...

Chapter 13. Low-Income Countries

Chapter 13. Low-Income Countries »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

The farmers care a lot more about the rain than they do about interest rates. But the central bank has a lot more influence over the interest rate...

Chapter 3. Managing Expectations

Chapter 3. Managing Expectations »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

For not only do expectations about policy matter, but, at least under current conditions, very little else matters. —M. Woodford (2005)...

Chapter 5. Monetary Operations

Chapter 5. Monetary Operations »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

Monetary operations that stabilize and align short-term market rates with the policy rate reduce liquidity risks, assisting banks with their liquidity management and...

Chapter 6. Monetary Policy and Financial Stability

Chapter 6. Monetary Policy and Financial Stability »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

Monetary policy faces significant limitations as a tool to promote financial stability . . . [However,] it may be appropriate to adjust monetary p...

Chapter 4. Nuts and Bolts of a Forecasting and Policy Analysis System

Chapter 4. Nuts and Bolts of a Forecasting and Policy Analysis System »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

Inflation-forecast targeting involves using a wide range of information in order to obtain the best forecasts for inflation and the economy. The s...

Chapter 8. Transparency and Communications

Chapter 8. Transparency and Communications »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

There are two key factors behind the move to increased transparency on the part of central banks. The first is the relationship between transparen...

Chapter 12. United States: Federal Reserve’s Dual Mandate

Chapter 12. United States: Federal Reserve’s Dual Mandate »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

The FOMC is firmly committed to fulfilling its statutory mandate from the Congress of promoting maximum employment, stable prices, and moderate lo...

Part I: The Frontiers of Monetary Policymaking

Part I: The Frontiers of Monetary Policymaking »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

...

Part II: Principles and Practices of Inflation-Forecast Targeting

Part II: Principles and Practices of Inflation-Forecast Targeting »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

...

Part III: Inflation-Forecast Targeting in Four Countries

Part III: Inflation-Forecast Targeting in Four Countries »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

...

Part IV: A Widened Perspective for Inflation-Forecast Targeting

Part IV: A Widened Perspective for Inflation-Forecast Targeting »

Source: Advancing the Frontiers of Monetary Policy

Series: Books

Author(s): Tobias Adrian , Douglas Laxton , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 April 2018

ISBN: 9781484325940

Keywords: Inflation Targeting, Monetary Policy, Central Banking, Central Bank Communications, Financial Stability, Forward Guidance, Optimal Control

...

Canada's Carbon Price Floor

Canada's Carbon Price Floor »

Source: Canada's Carbon Price Floor

Volume/Issue: 2018/42

Series: IMF Working Papers

Author(s): Ian Parry , and Victor Mylonas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 March 2018

ISBN: 9781484345191

Keywords: Western Hemisphere, Canada, carbon price, price floor, welfare impacts, incidence, effective carbon price, competitiveness impacts, Environmental Economics: Government Policy

The pan-Canadian approach to carbon pricing, announced in October 2016, ensures that carbon pricing applies throughout Canada in 2018, with increasing stringency over time to reduce emissions. Canadian provinces an...

Canada's Carbon Price Floor

Canada's Carbon Price Floor »

Volume/Issue: 2018/42

Series: IMF Working Papers

Author(s): Ian Parry , and Victor Mylonas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 March 2018

DOI: http://dx.doi.org/10.5089/9781484345191.001

ISBN: 9781484345191

Keywords: Western Hemisphere, Canada, carbon price, price floor, welfare impacts, incidence, effective carbon price, competitiveness impacts, Environmental Economics: Government Policy

The pan-Canadian approach to carbon pricing, announced in October 2016, ensures that carbon pricing applies throughout Canada in 2018, with increasing stringency over time to reduce emissions. Canadian provinces an...

Women Are Key for Future Growth
			: Evidence from Canada

Women Are Key for Future Growth : Evidence from Canada »

Volume/Issue: 2017/166

Series: IMF Working Papers

Author(s): Bengt Petersson , Rodrigo Mariscal , and Kotaro Ishi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2017

DOI: http://dx.doi.org/10.5089/9781484309247.001

ISBN: 9781484309247

Keywords: Labor force participation, Labor productivity, Taxation, Women, Gender, Canada, female participation, benefit system, Personal Income and Other Nonbusiness Taxes and Subsidies, Labor Force and Employment

How important are female workers for economic growth? This paper presents empirical evidence that an increase in female labor force participation is positively associated with labor productivity growth. Using panel...

Women Are Key for Future Growth

Women Are Key for Future Growth »

Source: Women Are Key for Future Growth : Evidence from Canada

Volume/Issue: 2017/166

Series: IMF Working Papers

Author(s): Bengt Petersson , Rodrigo Mariscal , and Kotaro Ishi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 July 2017

ISBN: 9781484309247

Keywords: Labor force participation, Labor productivity, Taxation, Women, Gender, Canada, female participation, benefit system, Personal Income and Other Nonbusiness Taxes and Subsidies, Labor Force and Employment

How important are female workers for economic growth? This paper presents empirical evidence that an increase in female labor force participation is positively associated with labor productivity growth. Using panel...

Canada: Selected Issues and Analytical Notes

Canada: Selected Issues and Analytical Notes »

Source: Canada : Selected Issues and Analytical Notes

Volume/Issue: 2017/211

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 July 2017

ISBN: 9781484309650

Keywords: Economic growth, Private investment, Capital, Government expenditures, Public finance, Fiscal policy, Infrastructure, Housing, Developed countries, Selected issues

This paper describes the proposed Canada Infrastructure Bank (CIB) that will be allocated Can$35 billion over an 11-year period. It will add to, and not replace, existing methods of financing public infrastructure...

Canada: Selected Issues and Analytical Notes

Canada: Selected Issues and Analytical Notes »

Source: Canada : Selected Issues and Analytical Notes

Volume/Issue: 2017/211

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 July 2017

ISBN: 9781484309650

Keywords: Economic growth, Private investment, Capital, Government expenditures, Public finance, Fiscal policy, Infrastructure, Housing, Developed countries, Selected issues

This paper describes the proposed Canada Infrastructure Bank (CIB) that will be allocated Can$35 billion over an 11-year period. It will add to, and not replace, existing methods of financing public infrastructure...

Canada: Selected Issues and Analytical Notes

Canada: Selected Issues and Analytical Notes »

Source: Canada : Selected Issues and Analytical Notes

Volume/Issue: 2017/211

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 July 2017

ISBN: 9781484309650

Keywords: Economic growth, Private investment, Capital, Government expenditures, Public finance, Fiscal policy, Infrastructure, Housing, Developed countries, Selected issues

This paper describes the proposed Canada Infrastructure Bank (CIB) that will be allocated Can$35 billion over an 11-year period. It will add to, and not replace, existing methods of financing public infrastructure...

Canada: Selected Issues and Analytical Notes

Canada: Selected Issues and Analytical Notes »

Source: Canada : Selected Issues and Analytical Notes

Volume/Issue: 2017/211

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 July 2017

ISBN: 9781484309650

Keywords: Economic growth, Private investment, Capital, Government expenditures, Public finance, Fiscal policy, Infrastructure, Housing, Developed countries, Selected issues

This paper describes the proposed Canada Infrastructure Bank (CIB) that will be allocated Can$35 billion over an 11-year period. It will add to, and not replace, existing methods of financing public infrastructure...

Canada: Staff Report for the 2017 Article IV Consultation

Canada: Staff Report for the 2017 Article IV Consultation »

Source: Canada : 2017 Article IV Consultation-Press Release and Staff Report

Volume/Issue: 2017/210

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 July 2017

ISBN: 9781484309605

Keywords: Article IV consultation reports, Economic growth, Fiscal policy, Monetary policy, Public investment, Fiscal reforms, Housing, Economic indicators, Balance of payments statistics, Debt sustainability analysis

This 2017 Article IV Consultation highlights that Canadian economy has regained momentum, supported by the authorities' pro-active growth strategy, but complex adjustments are still at play. Although personal consu...

Canada: Staff Report for the 2017 Article IV Consultation—Informational Annex

Canada: Staff Report for the 2017 Article IV Consultation—Informational Annex »

Source: Canada : 2017 Article IV Consultation-Press Release and Staff Report

Volume/Issue: 2017/210

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 July 2017

ISBN: 9781484309605

Keywords: Article IV consultation reports, Economic growth, Fiscal policy, Monetary policy, Public investment, Fiscal reforms, Housing, Economic indicators, Balance of payments statistics, Debt sustainability analysis

This 2017 Article IV Consultation highlights that Canadian economy has regained momentum, supported by the authorities' pro-active growth strategy, but complex adjustments are still at play. Although personal consu...

IMF Executive Board Concludes 2017 Article IV Consultation with Canada

IMF Executive Board Concludes 2017 Article IV Consultation with Canada »

Source: Canada : 2017 Article IV Consultation-Press Release and Staff Report

Volume/Issue: 2017/210

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 July 2017

ISBN: 9781484309605

Keywords: Article IV consultation reports, Economic growth, Fiscal policy, Monetary policy, Public investment, Fiscal reforms, Housing, Economic indicators, Balance of payments statistics, Debt sustainability analysis

This 2017 Article IV Consultation highlights that Canadian economy has regained momentum, supported by the authorities' pro-active growth strategy, but complex adjustments are still at play. Although personal consu...

Canada
			: 2017 Article IV Consultation-Press Release and Staff Report

Canada : 2017 Article IV Consultation-Press Release and Staff Report »

Volume/Issue: 2017/210

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 July 2017

DOI: http://dx.doi.org/10.5089/9781484309605.002

ISBN: 9781484309605

Keywords: Article IV consultation reports, Economic growth, Fiscal policy, Monetary policy, Public investment, Fiscal reforms, Housing, Economic indicators, Balance of payments statistics, Debt sustainability analysis

This 2017 Article IV Consultation highlights that Canadian economy has regained momentum, supported by the authorities' pro-active growth strategy, but complex adjustments are still at play. Although personal consu...

Canada
			: Selected Issues and Analytical Notes

Canada : Selected Issues and Analytical Notes »

Volume/Issue: 2017/211

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Western Hemisphere Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 July 2017

DOI: http://dx.doi.org/10.5089/9781484309650.002

ISBN: 9781484309650

Keywords: Economic growth, Private investment, Capital, Government expenditures, Public finance, Fiscal policy, Infrastructure, Housing, Developed countries, Selected issues

This paper describes the proposed Canada Infrastructure Bank (CIB) that will be allocated Can$35 billion over an 11-year period. It will add to, and not replace, existing methods of financing public infrastructure...

Apéndice 5. Acuerdos regionales

Apéndice 5. Acuerdos regionales »

Source: Manual de estadísticas de finanzas públicas 2014 : Manual

Series: Manuals & Guides

Author(s): Sage De Clerck , and Tobias Wickens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 April 2017

Language: Spanish

ISBN: 9781475592634

Keywords: activos, impuestos, deuda, pasivos, bienes

En este apéndice se describen varios acuerdos regionales de cooperación monetaria y económica y las implicancias de estos acuerdos para las estadísticas de finanzas públicas....

Apéndice 4. Algunos temas transversales

Apéndice 4. Algunos temas transversales »

Source: Manual de estadísticas de finanzas públicas 2014 : Manual

Series: Manuals & Guides

Author(s): Sage De Clerck , and Tobias Wickens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 April 2017

Language: Spanish

ISBN: 9781475592634

Keywords: activos, impuestos, deuda, pasivos, bienes

En este apéndice se aplican principios de las estadísticas de finanzas públicas para ilustrar el registro de: los arrendamientos, licencias, permisos y contratos; las asociaciones público-privad...