December 7, 2004
Posts
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October 11, 2013
Business Outlook Survey - Autumn 2013
Weak demand and uncertainty regarding future demand continue to weigh on firms’ investment decisions and near-term capacity planning, according to responses to the autumn survey. -
The Long-Term Effects of Cross-Listing, Investor Recognition, and Ownership Structure on Valuation
The authors show that the widening of a foreign firm's U.S. investor base and the improved information environment associated with cross-listing on a U.S. exchange each have a separately identifiable effect on a firm's valuation. -
A Behavioral New Keynesian Model of a Small Open Economy Under Limited Foresight
This paper studies exchange rate dynamics by incorporating bounded rationality, that is, limited foresight, in a small open-economy model. This behavior of limited foresight helps explain several observations and puzzles in the data of exchange rate movements. -
A Comprehensive Evaluation of Measures of Core Inflation in Canada: An Update
We provide an updated evaluation of the value of various measures of core inflation that could be used in the conduct of monetary policy. We find that the Bank of Canada’s current preferred measures of core inflation—CPI-trim, CPI-median and CPI-common—continue to outperform alternative core measures across a range of criteria. -
What Explains the Recent Increase in Canadian Corporate Bond Spreads
The spread between the yield of a corporate bond and the yield of a similar Government of Canada bond reflects compensation for possible default by the issuing firm and compensation for additional risks beyond default. -
Learning in a Complex World: Insights from an OLG Lab Experiment
This paper brings novel insights into group coordination and price dynamics in complex environments. We implement a chaotic overlapping-generation model in the lab and find that group coordination is always on the steady state or on the two-cycle and that behavior is non-monotonic. -
Options Decimalization
We document the outcome of an options decimalization pilot on Canada’s derivatives exchange. Decimalization improves measures of liquidity and price efficiency. The impact differs by the moneyness of an option and is greatest for out-of-the-money options. -
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July 29, 2016
Research Update - July 2016
This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website.