We investigate high-frequency impacts of macroprudential policy announcements using novel Canadian daily data. Lender-side tightening announcements reduce large banks’ pe[...]

We study the transmission of conventional monetary policy in China, focusing on the interaction between monetary and fiscal policy given the unique institutional set-up f[...]

This paper studies the macroeconomic effects of central bank forward guidance when central bank credibility is endogenous. We take a stylized New Keynesian model with an [...]

Our paper applies a deep neural network autoencoder (AE) to detect anomalous payment flows in Canada's retail batch clearing payments system, the Automated Clearing Settl[...]

Using detailed information from the Canadian interbank payments system and liquidity-providing facilities, we find that despite sustained increases in market-rate spreads[...]

We illustrate how financial market data are informative about the interactions between monetary and fiscal policy. Federal funds futures are private contracts that reflec[...]

We construct a 23-country panel data set to consider the effect of central bank projections and forward guidance on private-sector forecasts. Despite the strong arguments[...]

Using narrative evidence with a novel database of real-time data and forecasts from the Bank of Canada’s staff projections (1974–2015), we construct a new measure of mone[...]

The U.S. Federal Reserve responded to the great recession by implementing quantitative easing, or large-scale asset purchases, when its conventional policy rate reached t[...]

It has recently been suggested that price-level targeting (PLT) may be a superior approach to monetary policy than inflation targeting (IT) due to its ability to automati[...]