January 29, 2000
January 27, 2000
Bank of Canada Governor speaks to the Metropolitan Halifax Chamber of CommerceThere has been a dramatic move among major central banks over the past decade towards greater transparency in monetary policy, Bank of Canada Governor Gordon Thiessen told the Metropolitan Halifax Chamber of Commerce in a speech today. This process has been driven not only by the general trend to greater accountability on the part of […]
January 27, 2000
Accountability and Transparency in Canada's Monetary PolicyPublic sector institutions have been undergoing significant changes over the past decade. One of the most important changes has been the move to greater accountability. Public institutions are now required to be more open and to provide more information about their operations. Or, to use the word currently in vogue, to be more “transparent.”
January 16, 2000
Bank of Canada Review - Winter 1999–2000
Coins from Y1K
The largest of these coins is about the size of a twenty-five cent piece. They form part of the National Currency Collection, Bank of Canada.
Photography by James Zagon.
GAUSS™ Programs for the Estimation of State-Space Models with ARCH Errors: A User's GuideState-space models have long been popular in explaining the evolution of various economic variables. This is mainly because they generally have more economic content than do others in their class of parsimonious models (for example, VARs). Yet, in spite of their advantages, use of these models until recently was limited by the assumption that all […]
The Employment Costs of Downward Nominal-Wage RigidityIn this paper, we use firm-level wage and employment data to address whether there is evidence of downward nominal-wage rigidity, and whether that rigidity is associated with a reduction in employment. We describe an estimation bias that can result when estimating reduced-form wage and employment equations and suggest a way of controlling for that bias. […]