ABSTRACT This paper provides a general understanding of the process by which the Bank of Canada (BoC) creates money through large scale assetContinue reading
On Inflation, QE, and Canada’s Fiscal Deficit
Given the recent unprecedented actions taken by both the Government of Canada and the Bank of Canada in response to the pandemic, itContinue reading
Do Banks “Spend” Reserves?
As regular readers are no doubt aware, I’ve often argued against the notion that QE operations conducted by the Bank of Canada areContinue reading
Does the Bank of Canada Need to “Unwind” its Balance Sheet?
With the recent emergency response to the COVID-19 pandemic, the Bank of Canada (BoC) has managed to expand its balance sheet in aContinue reading
A Government Debt Jubilee?
As the COVID-19 crisis continues to drag on, it appears the BoC stands ready to purchase, in an unconstrained manner, a total ofContinue reading