E44 - Financial Markets and the Macroeconomy
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Unanticipated Defaults and Losses in Canada's Large-Value Payments System, Revisited
Recent work at the Bank of Canada studied the impact of default in Canada’s large-value payments system, and concluded that participants could readily manage their potential losses (McVanel 2005). In an extension of that work, the authors use a much larger set of daily payments data – with three times as many observations – to […] -
Gold Prices and Inflation
Using data for 14 countries over the 1994 to 2005 period, we assess the leading indicator properties of gold at horizons ranging from 6 to 24 months.