E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T11:23:54+00:00The Performance and Robustness of Simple Monetary Policy Rules in Models of the Canadian Economy
https://www.bankofcanada.ca/2002/12/technical-report-no92/
In this report, we evaluate several simple monetary policy rules in twelve private and public sector models of the Canadian economy. Our results indicate that none of the simple policy rules we examined is robust to model uncertainty, in that no single rule performs well in all models.2002-12-01T09:30:17+00:00enThe Performance and Robustness of Simple Monetary Policy Rules in Models of the Canadian Economy2002-12-01Monetary policy and uncertaintyTechnical Report 92 https://www.bankofcanada.ca/wp-content/uploads/2010/01/tr92.pdfThe Performance and Robustness of Simple Monetary Policy Rules in Models of the Canadian EconomyDenise CôtéJohn KuszczakJean-Paul LamYing LiuPierre St-AmantDecember 2002EE5E52E58Alternative Public Spending Rules and Output Volatility
https://www.bankofcanada.ca/2002/11/working-paper-2002-37/
One of the central lessons learned from the Great Depression was that adjusting government spending each year to balance the budget increases the volatility of output.2002-11-01T15:43:06+00:00enAlternative Public Spending Rules and Output Volatility2002-11-01Economic modelsFiscal policyMonetary policy transmissionWorking Paper 2002-37 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp02-37.pdfAlternative Public Spending Rules and Output VolatilityJean-Paul LamWilliam ScarthNovember 2002EE5E52E58E6E62Labour Markets, Liquidity, and Monetary Policy Regimes
https://www.bankofcanada.ca/2002/11/working-paper-2002-32/
We develop an equilibrium model of the monetary policy transmission mechanism that highlights information frictions in the market for money and search frictions in the market for labour.2002-11-01T13:50:16+00:00enLabour Markets, Liquidity, and Monetary Policy Regimes2002-11-01Monetary policy and uncertaintyMonetary policy transmissionWorking Paper 2002-32 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp02-32.pdfLabour Markets, Liquidity, and Monetary Policy RegimesDavid AndolfattoScott HendryKevin MoranNovember 2002EE4E5Inflation Expectations and Learning about Monetary Policy
https://www.bankofcanada.ca/2002/10/working-paper-2002-30/
Various measures indicate that inflation expectations evolve sluggishly relative to actual inflation. In addition, they often fail conventional tests of unbiasedness.2002-10-01T12:38:07+00:00enInflation Expectations and Learning about Monetary Policy2002-10-01Business fluctuations and cyclesEconomic modelsWorking Paper 2002-30 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp02-30.pdfInflation Expectations and Learning about Monetary PolicyDavid AndolfattoScott HendryKevin MoranOctober 2002EE4E47E5E52E58Habit Formation and the Persistence of Monetary Shocks
https://www.bankofcanada.ca/2002/10/working-paper-2002-27/
This paper studies the persistent effects of monetary shocks on output. Previous empirical literature documents this persistence, but standard general-equilibrium models with sticky prices fail to generate output responses beyond the duration of nominal contracts.2002-10-01T11:29:56+00:00enHabit Formation and the Persistence of Monetary Shocks2002-10-01Business fluctuations and cyclesMonetary policy transmissionWorking Paper 2002-27 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp02-27.pdfHabit Formation and the Persistence of Monetary ShocksHafedh BouakezEmanuela CardiaFrancisco Ruge-MurciaOctober 2002EE3E4E5Nominal Rigidities and Monetary Policy in Canada Since 1981
https://www.bankofcanada.ca/2002/09/working-paper-2002-25/
This paper develops and estimates a dynamic, stochastic, general-equilibrium model with price and wage stickiness to analyze monetary policy in Canada.2002-09-01T11:08:13+00:00enNominal Rigidities and Monetary Policy in Canada Since 19812002-09-01Monetary policy frameworkWorking Paper 2002-25 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp02-25.pdfNominal Rigidities and Monetary Policy in Canada Since 1981Ali DibSeptember 2002EE3E31E32E5E52How to Improve Inflation Targeting at the Bank of Canada
https://www.bankofcanada.ca/2002/09/working-paper-2002-23/
This paper shows that if the Bank of Canada is optimally adjusting its monetary policy instrument in response to inflation indicators to target 2 per cent inflation at a two-year horizon, then deviations of inflation from 2 per cent represent the Bank's forecast errors, and should be uncorrelated with its information set, which includes two-year lagged values of the instrument and the indicators. Positive or negative correlations are evidence of systematic errors in monetary policy.2002-09-01T10:27:39+00:00enHow to Improve Inflation Targeting at the Bank of Canada2002-09-01Inflation targetsMonetary and financial indicatorsMonetary policy implementationWorking Paper 2002-23 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp02-23.pdfHow to Improve Inflation Targeting at the Bank of CanadaNicholas RoweSeptember 2002EE5Corporate Bond Spreads and the Business Cycle
https://www.bankofcanada.ca/2002/06/working-paper-2002-15/
This paper examines the predictive power of credit spreads from the corporate bond market. The high-yield bond spread and investment-grade spread can explain 68 per cent and 42 per cent of output variations one year ahead, while the term spread based on government debts can explain only 12 per cent of them.2002-06-01T12:53:32+00:00enCorporate Bond Spreads and the Business Cycle2002-06-01Financial marketsMonetary and financial indicatorsMonetary policy transmissionWorking Paper 2002-15 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp02-15.pdfCorporate Bond Spreads and the Business CycleZhiwei ZhangJune 2002EE3E5GG1Currency Fluctuations, Liability Dollarization, and the Choice of Exchange Rate Regimes in Emerging Markets
https://www.bankofcanada.ca/2002/02/working-paper-2002-6/
Traditional models of exchange rate regimes ignore the destabilizing effects of sharp and unanticipated exchange rate movements.2002-02-01T17:45:07+00:00enCurrency Fluctuations, Liability Dollarization, and the Choice of Exchange Rate Regimes in Emerging Markets2002-02-01Exchange rate regimesWorking Paper 2002-6 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp02-6.pdfCurrency Fluctuations, Liability Dollarization, and the Choice of Exchange Rate Regimes in Emerging MarketsPatrick OsakweFebruary 2002EE5E52FF3F31F4F41Taylor Rules in the Quarterly Projection Model
https://www.bankofcanada.ca/2002/01/working-paper-2002-1/
In recent years, there has been a lot of interest in Taylor-type rules. Evidence in the literature suggests that Taylor-type rules are optimal in a number of models and are fairly robust across different models.2002-01-01T12:54:29+00:00enTaylor Rules in the Quarterly Projection Model2002-01-01Economic modelsMonetary policy and uncertaintyMonetary policy frameworkWorking Paper 2002-1 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp02-1.pdfTaylor Rules in the Quarterly Projection ModelBen FungDinah MacleanJamie ArmourJanuary 2002EE5E52