Research - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T02:29:14+00:00Price-Level Targeting
https://www.bankofcanada.ca/2007/08/discussion-paper-2007-8/
In November 2006, the Bank of Canada announced its intention to lead a concerted research program over the next few years on the type of monetary policy framework that would best contribute to the economic well-being of Canadians in the decades ahead. The research will focus on two broad questions: whether economic welfare might be […]2007-08-18T15:50:12+00:00enPrice-Level Targeting2007-08-18Monetary policy frameworkDiscussion Paper 2007-8https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp07-8.pdfPrice-Level TargetingAgathe CôtéAugust 2007EE5E52E58A Note on Contestability in the Canadian Banking Industry
https://www.bankofcanada.ca/2007/08/discussion-paper-2007-7/
The authors examine the degree of contestability in the Canadian banking system using the H-statistic proposed by Panzar and Rosse (1987) and modified by Bikker, Spierdijk, and Finnie (2006). A modification is necessary because the standard approach of controlling for size using total assets leads to an upward bias in the H-statistic. The authors propose […]2007-08-13T16:11:00+00:00enA Note on Contestability in the Canadian Banking Industry2007-08-13Financial institutionsDiscussion Paper 2007-7https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp07-7.pdfA Note on Contestability in the Canadian Banking IndustryJason AllenYing LiuAugust 2007GG2G21LL1L11Implications of Asymmetry Risk for Portfolio Analysis and Asset Pricing
https://www.bankofcanada.ca/2007/08/working-paper-2007-47/
Asymmetric shocks are common in markets; securities' payoffs are not normally distributed and exhibit skewness. This paper studies the portfolio holdings of heterogeneous agents with preferences over mean, variance and skewness, and derives equilibrium prices.2007-08-07T11:40:55+00:00enImplications of Asymmetry Risk for Portfolio Analysis and Asset Pricing2007-08-07Financial marketsMarket structure and pricingWorking Paper 2007-47 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp07-47.pdfImplications of Asymmetry Risk for Portfolio Analysis and Asset PricingFousseni Chabi-YoDietmar LeisenEric RenaultAugust 2007CC5C52DD5D58GG1G11G12Endogenously Segmented Asset Market in an Inventory Theoretic Model of Money Demand
https://www.bankofcanada.ca/2007/08/working-paper-2007-46/
This paper studies the effects of monetary policy in an inventory theoretic model of money demand. In this model, agents keep inventories of money, despite the fact that money is dominated in rate of return by interest bearing assets, because they must pay a fixed cost to transfer funds between the asset market and the goods market.2007-08-06T11:36:22+00:00enEndogenously Segmented Asset Market in an Inventory Theoretic Model of Money Demand2007-08-06Monetary policy frameworkMonetary policy transmissionWorking Paper 2007-46 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp07-46.pdfEndogenously Segmented Asset Market in an Inventory Theoretic Model of Money DemandJonathan ChiuAugust 2007EE3E31E4E41E5E50Canada's Pioneering Experience with a Flexible Exchange Rate in the 1950s: (Hard) Lessons Learned for Monetary Policy in a Small Open Economy
https://www.bankofcanada.ca/2007/08/working-paper-2007-45/
This paper revisits Canada's pioneering experience with floating exchange rate over the period 1950–1962. It examines whether the floating rate was the best option for Canada in the 1950s by developing and estimating a New Keynesian small open economy model of the Canadian economy.2007-08-04T11:31:35+00:00enCanada's Pioneering Experience with a Flexible Exchange Rate in the 1950s: (Hard) Lessons Learned for Monetary Policy in a Small Open Economy2007-08-04Economic modelsExchange ratesWorking Paper 2007-45 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp07-45.pdfCanada’s Pioneering Experience with a Flexible Exchange Rate in the 1950s: (Hard) Lessons Learned for Monetary Policy in a Small Open EconomyMichael BordoAli DibLawrence L. SchembriAugust 2007EE3E32E37FF3F31F32NN1Cyclical Behavior of Debt and Equity Using a Panel of Canadian Firms
https://www.bankofcanada.ca/2007/08/working-paper-2007-44/
We document the cyclical behavior of debt, equity, and retained earnings for different firm categories using firm-level Canadian data.2007-08-03T11:16:09+00:00enCyclical Behavior of Debt and Equity Using a Panel of Canadian Firms2007-08-03Business fluctuations and cyclesWorking Paper 2007-44 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp07-44.pdfCyclical Behavior of Debt and Equity Using a Panel of Canadian FirmsFrancisco CovasWouter den HaanAugust 2007EE3E32GG3G32Price Discovery in Canadian and U.S. 10-Year Government Bond Markets
https://www.bankofcanada.ca/2007/08/working-paper-2007-43/
This paper presents some new results on the price discovery process in both the Canadian and U.S. 10-year Government bond markets using high-frequency data not previously analyzed. Using techniques introduced by Hasbrouck (1995) and Gonzalo-Granger (1995), we look at the relative information content of cash and futures prices in the market for Canadian Government bonds using futures market data from the Montreal Exchange and OTC cash market data reflecting the inter-dealer market covered by CanPx.2007-08-02T11:25:43+00:00enPrice Discovery in Canadian and U.S. 10-Year Government Bond Markets2007-08-02Financial marketsMarket structure and pricingWorking Paper 2007-43 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp07-43.pdfPrice Discovery in Canadian and U.S. 10-Year Government Bond MarketsBryan CampbellScott HendryAugust 2007GG1G12G13G14Trend Inflation, Wage and Price Rigidities, and Welfare
https://www.bankofcanada.ca/2007/08/working-paper-2007-42/
This paper studies the steady-state costs of inflation in a general-equilibrium model with real per capita output growth and staggered nominal price and wage contracts.2007-08-01T11:04:14+00:00enTrend Inflation, Wage and Price Rigidities, and Welfare2007-08-01Inflation: costs and benefitsWorking Paper 2007-42 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp07-42.pdfTrend Inflation, Wage and Price Rigidities, and WelfareRobert AmanoKevin MoranStephen MurchisonAndrew RennisonAugust 2007EE0E5