Posts
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February 17, 2004
Policies for Changing Times
We both share borders with the United States, the most important export market for each of us. Both Canada and Mexico have recently faced setbacks in cross-border trade with the United States. These stem not only from weaker U.S. domestic demand, but also from specific trade problems and from border-crossing delays associated with tighter security. -
February 6, 2017
Bank of Canada announces winners of the second edition of The Governor’s Challenge
The Bank of Canada today announced that the team from McGill University won the second annual Governor’s Challenge, a student competition in which teams simulate the role of advisor to the Bank’s policy-makers. -
China’s Emergence in the World Economy and Business Cycles in Latin America
The international business cycle is very important for Latin America’s economic performance as the recent global crisis vividly illustrated. This paper investigates how changes in trade linkages between China, Latin America, and the rest of the world have altered the transmission mechanism of international business cycles to Latin America. -
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An Introduction to Wavelets for Economists
Wavelets are mathematical expansions that transform data from the time domain into different layers of frequency levels. Compared to standard Fourier analysis, they have the advantage of being localized both in time and in the frequency domain, and enable the researcher to observe and analyze data at different scales. -
August 19, 2011
Opening Statement before the House of Commons Standing Committee on Finance
Thank you for this opportunity to appear here today. Recent Economic and Financial Developments In recent weeks, several downside risks to the Bank’s July Monetary Policy Report (MPR) projection have been realised. The European sovereign crisis has intensified, the U.S. credit rating has been downgraded, and a broad range of data has signalled slower global […] -
January 28, 2002
Challenges and Changes in an Eventful Year
The main economic concern of the past year was the slowdown that occurred not just here in Canada, but in most major economies. Compounding the economic concerns were the 11 September terrorist attacks in the United States. -
April 9, 2012
Business Outlook Survey - Spring 2012
The results of the spring survey point to more optimism among firms than in the winter survey, as some of the uncertainty dampening the economic outlook has dissipated. -
Exchange Rates, Retailers, and Importing: Theory and Firm-Level Evidence
We develop a model with firm heterogeneity in importing and cross-border shopping among consumers. Exchange-rate appreciations lower the cost of imported goods, but also lead to more cross-border shopping; hence, the net impact on aggregate retail prices and sales is ambiguous.