December 5, 2007
Uncategorized
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December 4, 2007
Bank of Canada lowers overnight rate target by 1/4 percentage point to 4 1/4 per cent
The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 4 1/4 per cent. -
Uncertainty and the Specificity of Human Capital
This paper studies the choice between general and specific human capital. A trade-off arises because general human capital, while less productive, can easily be reallocated across firms. -
Estimation and Inference by the Method of Projection Minimum Distance
A covariance-stationary vector of variables has a Wold representation whose coefficients can be semi-parametrically estimated by local projections (Jordà, 2005). Substituting the Wold representations for variables in model expressions generates restrictions that can be used by the method of minimum distance to estimate model parameters. -
November 20, 2007
Managing Risks to Financial System Stability
The recent dislocations in credit markets have brought these issues into sharp focus. Among other things, the market turbulence has highlighted the critical role that confidence and liquidity play in financial markets. -
November 15, 2007
Debt Strategy Consultations 2008/09 Views Sought on Issues Relating to the Government's Domestic Debt Program for 2008/09 and Beyond
A consultation document on issues relating to the design and operation of the government's domestic debt program for the fiscal year 2008/09 and beyond, prepared jointly by the Department of Finance and the Bank of Canada, is being made public today. -
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November 7, 2007
Developing a Framework to Assess Financial Stability
Conference held on 7 and 8 November 2007 (papers in unedited, electronic format only) -
November 6, 2007
North America in Today's Global Economic Setting
In recent months, much has been said, and written, about developments in financial markets. The turbulence in global credit markets, which had its roots in developments in the market for subprime mortgages here in the United States, has been a focal point of attention for market participants and policy-makers around the world. -
Testing Uncovered Interest Parity: A Continuous-Time Approach
Nowadays researchers can choose the sampling frequency of exchange rates and interest rates.