Research - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T14:59:05+00:00Uncertainty and Multiple Paradigms of the Transmission Mechanism
https://www.bankofcanada.ca/1998/04/working-paper-1998-7/
An important challenge facing central banks is making decisions under uncertainty about the dynamic effects of monetary policy actions. The authors stress the importance of explicitly recognizing uncertainty about the transmission mechanism when formulating policy advice. They argue that one way to manage monetary policy under uncertainty is to draw on both an output-gap paradigm […]1998-04-15T09:09:04+00:00enUncertainty and Multiple Paradigms of the Transmission Mechanism1998-04-15Monetary policy and uncertaintyMonetary policy frameworkWorking Paper 1998-7 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-7.pdfUncertainty and Multiple Paradigms of the Transmission MechanismWalter EngertJack SelodyApril 1998EE5Forecasting Inflation with the M1-VECM: Part Two
https://www.bankofcanada.ca/1998/04/working-paper-1998-6/
A central bank's main concern is the general direction of future inflation, and not transitory fluctuations of the inflation rate. As a result, this paper is concerned with forecasting a simple measure of the trend of inflation, the eight-quarter CPI-inflation rate. The primary objective is to improve the M1-based vector-error-correction model (VECM) developed by Hendry […]1998-04-07T08:52:06+00:00enForecasting Inflation with the M1-VECM: Part Two1998-04-07Economic modelsInflation and pricesMonetary aggregatesWorking Paper 1998-6 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-6.pdfForecasting Inflation with the M1-VECM: Part TwoWalter EngertScott HendryApril 1998CC3C5EE3E4E5Predicting Canadian Recessions Using Financial Variables: A Probit Approach
https://www.bankofcanada.ca/1998/04/working-paper-1998-5/
This paper examines the ability of a number of financial variables to predict Canadian recessions. Regarding methodology, we follow closely the technique employed by Estrella and Mishkin (1998), who use a probit model to predict U.S. recessions up to eight quarters in advance. Our main finding is that the spread between the yield on Canadian […]1998-04-05T08:41:35+00:00enPredicting Canadian Recessions Using Financial Variables: A Probit Approach1998-04-05Business fluctuations and cyclesInterest ratesWorking Paper 1998-5 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-5.pdfPredicting Canadian Recessions Using Financial Variables: A Probit ApproachJoseph Atta-MensahGreg TkaczApril 1998EE3E32E4E43The Benefits of Low Inflation: Taking Stock
https://www.bankofcanada.ca/1998/04/technical-report-no83/
This paper surveys the empirical literature on the benefits of low inflation, emphasizing contributions since 1990. It follows the framework of a section in the Bank's 1990 Annual Report, "The benefits of price stability."1998-04-01T15:23:39+00:00enThe Benefits of Low Inflation: Taking Stock1998-04-01Inflation: costs and benefitsTechnical Report 83 https://www.bankofcanada.ca/wp-content/uploads/2010/01/tr83.pdfThe Benefits of Low Inflation: Taking StockBrian O'ReillyApril 1998EE3