April 10, 2008
Uncategorized
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Credit, Asset Prices, and Financial Stress in Canada
Historical narratives typically associate financial crises with credit expansions and asset price misalignments. The question is whether some combination of measures of credit and asset prices can be used to predict these events. -
A Model of Housing Boom and Bust in a Small Open Economy
This paper considers a dynamic stochastic general equilibrium model for a small open economy and finds that an improvement in the terms of trade causes a housing boom-bust cycle if the duration of the improvement is uncertain. -
April 2, 2008
Trends and Challenges in the Global Economy and What They Mean for Canada and Ontario
As is the case for so many cities and regions in Canada, London's economy and that of southwestern Ontario are directly affected by changes in the global economy. And, as with so many things in life, the better we understand the forces of change, the better equipped we are to deal with them. -
March 20, 2008
Operational Changes to the Bond Buyback Program
As announced in the Debt Management Strategy 2008-2009, minor operational changes will be made to the bond buyback program to broaden the eligible basket of securities available for buyback operations. The changes are as follows: -
March 18, 2008
Bank of Canada Announces Recipients of Fellowship Award for 2008
The Bank of Canada today announced that Professor Michael Devereux of the University of British Columbia and Professor Shouyong Shi of the University of Toronto are the recipients of the Bank's Research Fellowship for 2008. -
March 18, 2008
Bank of Canada Announces First Recipient of Governor's Award
The Bank of Canada today announced that Professor Henry Siu of the University of British Columbia is the first recipient of the Governor's Award. -
March 14, 2008
The Bank of Canada Releases Its Annual Report for 2007
The Bank of Canada's Annual Report for 2007 was tabled in the House of Commons today. -
March 13, 2008
Addressing Financial Market Turbulence
Since last summer, many of us here today have been preoccupied with the ongoing dislocations in financial markets. What began in securities linked to U.S. subprime mortgages has spread to a broad range of structured assets, conventional credit markets, and, to a lesser extent, equities. -
March 12, 2008
Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce
Let me start by saying that the issue of internal trade barriers is critically important, and I'm very pleased, Mr. Chairman, that your committee is examining it. We have reviewed previous submissions to this committee, and you will see that our focus will be slightly different.