Research - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T14:57:18+00:00Constraints on the Conduct of Canadian Monetary Policy in the 1990s: Dealing with Uncertainty in Financial Markets
https://www.bankofcanada.ca/1997/12/technical-report-no80/
Canada's economic performance in the first half of the 1990s was adversely affected by high premiums in interest rates that were brought on by political and economic uncertainties.1997-12-01T14:43:21+00:00enConstraints on the Conduct of Canadian Monetary Policy in the 1990s: Dealing with Uncertainty in Financial Markets1997-12-01Monetary policy and uncertaintyMonetary policy implementationMonetary policy transmissionTechnical Report 80 https://www.bankofcanada.ca/wp-content/uploads/2010/01/tr80.pdfConstraints on the Conduct of Canadian Monetary Policy in the 1990s: Dealing with Uncertainty in Financial MarketsKevin ClintonMark ZelmerDecember 1997EE5E58Modelling the Behaviour of U.S. Inventories: A Cointegration-Euler Approach
https://www.bankofcanada.ca/1997/11/working-paper-1997-19/
Cyclical contractions are often referred to as inventory cycles, in part because movements in inventories can amplify cyclical fluctuations in output. An unanticipated slowing in demand generally leads to an unintended buildup of inventories: only with a lag do firms adjust production and their actual holding of inventories relative to the desired level.1997-11-01T12:46:37+00:00enModelling the Behaviour of U.S. Inventories: A Cointegration-Euler Approach1997-11-01International topicsWorking Paper 1997-19https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp97-19.pdfModelling the Behaviour of U.S. Inventories: A Cointegration-Euler ApproachIris ClausNovember 1997EE2E22A Measure of Underlying Inflation in the United States
https://www.bankofcanada.ca/1997/09/working-paper-1997-20/
A monetary authority with the primary objective of price stability has to distinguish between temporary price shocks and persistent shocks to the rate of inflation. A measure of underlying inflation, therefore, has an important role to play as a guideline for monetary policy.1997-09-01T12:51:29+00:00enA Measure of Underlying Inflation in the United States1997-09-01Inflation and pricesInternational topicsWorking Paper 1997-20https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp97-20.pdfA Measure of Underlying Inflation in the United StatesIris ClausSeptember 1997EE3E31Les marchés du travail régionaux : une comparaison entre le Canada et les États-Unis
https://www.bankofcanada.ca/1997/09/working-paper-1997-17/
The purpose of this study is to compare the behaviour of regional labour markets in Canada and the United States. The study shows that the degree of persistence of unemployment is significantly higher in the provinces of Canada than it is in the various American regions.1997-09-01T11:32:06+00:00frLes marchés du travail régionaux : une comparaison entre le Canada et les États-Unis1997-09-01Labour marketsRecent economic and financial developmentsWorking Paper 1997-17https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp97-17.pdfLes marchés du travail régionaux : une comparaison entre le Canada et les États-UnisMario LefebvreSeptember 1997EE2E24Measurement of the Output Gap: A Discussion of Recent Research at the Bank of Canada
https://www.bankofcanada.ca/1997/08/technical-report-no79/
In this paper, we discuss some methodologies for estimating potential output and the output gap that have recently been studied at the Bank of Canada. The assumptions and econometric techniques used by the different methodologies are discussed in turn, and applications to Canadian data are presented.1997-08-01T14:37:25+00:00enMeasurement of the Output Gap: A Discussion of Recent Research at the Bank of Canada1997-08-01Potential outputTechnical Report 79https://www.bankofcanada.ca/wp-content/uploads/2010/01/tr79.pdfMeasurement of the Output Gap: A Discussion of Recent Research at the Bank of CanadaPierre St-AmantSimon van NordenAugust 1997DD2D24Canadian Short-Term Interest Rates and the BAX Futures Market: Analysis of the Impact of Volatility on Hedging Activity and the Correlation of Returns between Markets
https://www.bankofcanada.ca/1997/07/working-paper-1997-18/
This paper analyses how Canadian financial firms manage short-term interest rate risk through the use of BAX futures contracts. The results show that the most effective hedging strategy is, on average, a static strategy based on linear regression that assumes constant variances, even though dynamic models allowing for time-varying variances are found to have superior explanatory power.1997-07-01T11:42:30+00:00enCanadian Short-Term Interest Rates and the BAX Futures Market: Analysis of the Impact of Volatility on Hedging Activity and the Correlation of Returns between Markets1997-07-01Financial marketsInterest ratesWorking Paper 1997-18https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp97-18.pdfCanadian Short-Term Interest Rates and the BAX Futures Market: An Analysis of the Impact of Volatility on Hedging Activity and the Correlation of Returns between Markets.David WattJuly 1997EE4E43Canadian Policy Analysis Model: CPAM
https://www.bankofcanada.ca/1997/06/working-paper-1997-16/
This paper documents the structure and properties of the Canadian Policy Analysis Model (CPAM). CPAM is designed to provide a reasonably complete representation of the Canadian macro economy.1997-06-04T11:27:09+00:00enCanadian Policy Analysis Model: CPAM1997-06-04Economic modelsWorking Paper 1997-16https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp97-16.pdfCanadian Policy Analysis Model: CPAMRichard BlackDavid RoseJune 1997CC5C53EE1E17The Effects of Budget Rules on Fiscal Performance and Macroeconomic Stabilization
https://www.bankofcanada.ca/1997/06/working-paper-1997-15/
Budget rules can be defined as legislated or constitutional constraints on government deficits, taxes, expenditures, or debt. This paper reviews the budget rules recently legislated in six of Canada's provinces and both of its territories, as well as budget rules in other OECD countries.1997-06-03T11:22:43+00:00enThe Effects of Budget Rules on Fiscal Performance and Macroeconomic Stabilization1997-06-03Fiscal policyWorking Paper 1997-15https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp97-15.pdfThe Effects of Budget Rules on Fiscal Performance and Macroeconomic StabilizationJonathan MillarJune 1997EE6E62HH3H6H61Menu Costs, Relative Prices, and Inflation: Evidence for Canada
https://www.bankofcanada.ca/1997/06/working-paper-1997-14/
The menu-cost models of price adjustment developed by Ball and Mankiw (1994;1995) predict that short-run movements in inflation should be positively related to the skewness and the variance of the distribution of disaggregated relative-price shocks in each period. We test these predictions on Canadian data using the distribution of changes in disaggregated producer prices to measure the skewness and standard deviation of relative-price shocks.1997-06-02T11:19:40+00:00enMenu Costs, Relative Prices, and Inflation: Evidence for Canada1997-06-02Inflation and pricesMonetary policy frameworkWorking Paper 1997-14https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp97-14.pdfMenu Costs, Relative Prices, and Inflation: Evidence for CanadaRobert AmanoTiff MacklemJune 1997CC5C52EE3E31What Does Downward Nominal-Wage Rigidity Imply for Monetary Policy?
https://www.bankofcanada.ca/1997/06/working-paper-1997-13/
A recent paper has suggested there might be a trade-off between inflation and unemployment at low inflation rates and this has led some economists to recommend that Canada increase its inflation rate.1997-06-01T11:01:10+00:00enWhat Does Downward Nominal-Wage Rigidity Imply for Monetary Policy?1997-06-01Inflation targetsMonetary policy frameworkMonetary policy transmissionWorking Paper 1997-13https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp97-13.pdfWhat Does Downward Nominal-Wage Rigidity Imply for Monetary Policy?Seamus HoganJune 1997CC5C52EE2E24E5E50