Posts

• August 27, 2013

  Exits, Spillovers and Monetary Policy Independence

  Remarks John Murray Canadian Association for Business Economics Kingston, Ontario

  Deputy Governor John Murray discusses exits from unconventional monetary policies, spillovers and monetary policy independence.

  Content Type(s): Press, Speeches and appearances, Remarks
• August 23, 2013

  Weekly Financial Statistics - 23 August 2013

  Content Type(s): Publications, Historical: Weekly Financial Statistics
• August 20, 2013

  Changes to the Terms and Conditions Governing the Morning Auction of Receiver General Cash Balances

  The Bank of Canada, on behalf of the Government of Canada, today announced changes to the Terms and Conditions Governing the Morning Auction of Receiver General Cash Balances (the Terms), effective 1 April 2014.

  Content Type(s): Press, Market notices
• August 20, 2013

  Bank of Canada Announces the Recipients of its 2013 Law Enforcement Award of Excellence for Counterfeit Deterrence

  Media Relations Ottawa, Ontario

  The Bank of Canada is pleased to announce the recipients of its 2013 Law Enforcement Award of Excellence for Counterfeit Deterrence.

  Content Type(s): Press, Press releases Research Topic(s): Bank notes

• Volatility and Liquidity Costs

  Staff Working Paper 2013-29 Selma Chaker

  Observed high-frequency prices are contaminated with liquidity costs or market microstructure noise. Using such data, we derive a new asset return variance estimator inspired by the market microstructure literature to explicitly model the noise and remove it from observed returns before estimating their variance.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Financial markets, Market structure and pricing JEL Code(s): C, C1, C14, C5, C51, C58, G, G2, G20

• Forecasting the Real Price of Oil in a Changing World: A Forecast Combination Approach

  Staff Working Paper 2013-28 Christiane Baumeister, Lutz Kilian

  The U.S. Energy Information Administration regularly publishes short-term forecasts of the price of crude oil.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, International topics JEL Code(s): C, C5, C53, E, E3, E32, Q, Q4, Q43

• Analyzing Fiscal Sustainability

  Staff Working Paper 2013-27 Huixin Bi, Eric M. Leeper

  The authors study the implications of fiscal policy behaviour for sovereign risk in a framework that determines a country’s fiscal limit, the point at which, for economic or political reasons, taxes and spending can no longer adjust to stabilize debt.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Fiscal policy JEL Code(s): E, E6, E62, E65, H, H6, H63
• August 16, 2013

  Weekly Financial Statistics - 16 August 2013

  Content Type(s): Publications, Historical: Weekly Financial Statistics

• Uncertain Fiscal Consolidations

  Staff Working Paper 2013-26 Huixin Bi, Eric M. Leeper, Campbell Leith

  The paper explores the macroeconomic consequences of fiscal consolidations whose timing and composition - either tax- or spending-based - are uncertain.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Fiscal policy, Monetary policy and uncertainty JEL Code(s): E, E6, E62, E63, H, H3, H30, H6, H60

• Are Product Spreads Useful for Forecasting? An Empirical Evaluation of the Verleger Hypothesis

  Staff Working Paper 2013-25 Christiane Baumeister, Lutz Kilian, Xiaoqing Zhou

  Notwithstanding a resurgence in research on out-of-sample forecasts of the price of oil in recent years, there is one important approach to forecasting the real price of oil which has not been studied systematically to date.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, International topics JEL Code(s): C, C5, C53, G, G1, G15, Q, Q4, Q43