The recent financial crisis has driven many plans for improving the stability and resilience of the global financial system. One concept, managing the risk of default in securities or financial derivatives markets through central counterparties, receives scrutiny in this report. The author...

The federal government will be increasingly constrained in its ability to provide effective stimulus in response to future severe cyclical economic downturns. Low interest rates restrict the Bank of Canada’s ability to stimulate private demand through interest-rate cuts. Similarly, high public...

In Canada, inflation targeting is widely agreed to have been a success story, but questions about how the regime might be fine-tuned in 2011 remain open. This Commentary asks how much discretion an inflation-targeting Bank of Canada can be allowed without compromising the credibility of its low...

The global financial landscape is changing. Canada’s legislative and regulatory framework for financial services must change as well.

The recent financial crisis has driven many plans for improving the stability and resilience of the global financial system. One concept, managing the risk of default in securities or financial derivatives markets through central counterparties, receives scrutiny in this report. The author...