Research - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T13:19:48+00:00Should Central Banks Adjust Their Target Horizons in Response to House-Price Bubbles?
https://www.bankofcanada.ca/2007/05/discussion-paper-2007-4/
The authors investigate the implications of house-price bubbles for the optimal inflation-target horizon using a dynamic general-equilibrium model with credit frictions, house-price bubbles, and small open-economy features. They find that, given the distribution of shocks and inflation persistence over the past 25 years, the optimal target horizon for Canada tends to be at the lower […]2007-05-11T11:18:58+00:00enShould Central Banks Adjust Their Target Horizons in Response to House-Price Bubbles?2007-05-11Central bank researchCredit and credit aggregatesEconomic modelsInflation targetsMonetary policy frameworkMonetary policy transmissionDiscussion Paper 2007-4https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp07-4.pdfShould Central Banks Adjust Their Target Horizons in Response to House-Price Bubbles?Meenakshi Basant RoiRhys R. MendesMay 2007EE4E42E44E5E52E58E6E61Vulnerabilities in Defined-Benefit Pension Plans
https://www.bankofcanada.ca/2007/05/discussion-paper-2007-3/
An effective pension system enhances economic and financial efficiency. A majority of pension plans in Canada are defined-benefit (DB) plans, but DB plans are under stress from increasing longevity, low long-term interest rates, and the shrinking equity premium. DB plans are vulnerable to such shocks because they are complex financial vehicles, with interdependencies not fully […]2007-05-11T11:03:05+00:00enVulnerabilities in Defined-Benefit Pension Plans2007-05-11Financial institutionsDiscussion Paper 2007-3https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp07-3.pdfVulnerabilities in Defined-Benefit Pension PlansJack SelodyMay 2007GG2G23Implications of New Accounting Standards for the Bank of Canada's Balance Sheet
https://www.bankofcanada.ca/2007/05/discussion-paper-2007-2/
The Canadian Institute of Chartered Accountants (CICA) has implemented new accounting standards for the valuation and reporting of financial instruments. They are effective for the Bank of Canada in 2007. As a result of these changes, the Bank has begun valuing its holdings of Government of Canada treasury bills on a fair value basis and […]2007-05-07T14:24:07+00:00enImplications of New Accounting Standards for the Bank of Canada's Balance Sheet2007-05-07Financial institutionsMonetary policy frameworkDiscussion Paper 2007-2https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp07-2-e.pdfImplications of New Accounting Standards for the Bank of Canada’s Balance SheetMark ZelmerGrahame JohnsonMay 2007EE5E58MM4Oil Price Movements and the Global Economy: A Model-Based Assessment
https://www.bankofcanada.ca/2007/05/working-paper-2007-34/
We develop a five-region version (Canada, an oil exporter, the United States, emerging Asia and Japan plus the euro area) of the Global Economy Model (GEM) encompassing production and trade of crude oil, and use it to study the international transmission mechanism of shocks that drive oil prices.2007-05-04T12:23:07+00:00enOil Price Movements and the Global Economy: A Model-Based Assessment2007-05-04Economic modelsInflation and pricesInternational topicsWorking Paper 2007-34 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp07-34.pdfOil Price Movements and the Global Economy: A Model-Based AssessmentSelim ElekdagRené LalondeDouglas LaxtonDirk MuirPaolo PesentiMay 2007EE6E66FF3F32F4F47Domestic versus External Borrowing and Fiscal Policy in Emerging Markets
https://www.bankofcanada.ca/2007/05/working-paper-2007-33/
Domestic public debt issued by emerging markets has risen significantly relative to international debt in recent years. Some recent empirical evidence also suggests that sovereigns have defaulted differentially on debt held by domestic and external creditors.2007-05-03T17:20:29+00:00enDomestic versus External Borrowing and Fiscal Policy in Emerging Markets2007-05-03Debt managementInternational topicsWorking Paper 2007-33https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp07-33.pdfDomestic versus External Borrowing and Fiscal Policy in Emerging MarketsGarima VasishthaMay 2007FF3F30HH2H21H6H63Computing Optimal Policy in a Timeless-Perspective: An Application to a Small-Open Economy
https://www.bankofcanada.ca/2007/05/working-paper-2007-32/
Since the contribution of Kydland and Prescott (1977), it is well known that the optimal Ramsey policy is time inconsistent. In a series of recent contributions, Woodford (2003) proposes a new methodology to circumvent this problem, namely the timeless perspective solution.2007-05-02T17:15:54+00:00enComputing Optimal Policy in a Timeless-Perspective: An Application to a Small-Open Economy2007-05-02Monetary policy frameworkWorking Paper 2007-32 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp07-32.pdfComputing Optimal Policy in a Timeless-Perspective: An Application to a Small-Open EconomyMichel JuillardFlorian PelgrinMay 2007CC6EE5E6Micro Foundations of Price-Setting Behaviour: Evidence from Canadian Firms
https://www.bankofcanada.ca/2007/05/working-paper-2007-31/
How do firms adjust prices in the marketplace? Do they tend to adjust prices infrequently in response to changes in market conditions? If so, why? These remain key questions in macroeconomics, particularly for central banks that work to keep inflation low and stable.2007-05-01T17:09:29+00:00enMicro Foundations of Price-Setting Behaviour: Evidence from Canadian Firms2007-05-01Inflation and pricesMonetary policy transmissionWorking Paper 2007-31 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp07-31.pdfMicro Foundations of Price-Setting Behaviour: Evidence from Canadian FirmsDaniel de MunnikKuan XuMay 2007DD4D40EE3E30LL1L11