Dmitri Tchebotarev

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Canada’s Monetary Policy Report: If Text Could Speak, What Would It Say?

Staff Analytical Note 2019-5 André Binette, Dmitri Tchebotarev
This note analyzes the evolution of the narrative in the Bank of Canada’s Monetary Policy Report (MPR). It presents descriptive statistics on the core text, including length, most frequently used words and readability level—the three Ls. Although each Governor of the Bank of Canada focuses on the macroeconomic events of the day and the mandate of inflation targeting, we observe that the language used in the MPR varies somewhat from one Governor’s tenure to the next.
Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Central bank research, Monetary Policy JEL Code(s): E, E0, E02, E5, E52

Evaluating Real GDP Growth Forecasts in the Bank of Canada Monetary Policy Report

Staff Analytical Note 2017-21 André Binette, Dmitri Tchebotarev
This paper examines the quality of projections of real GDP growth taken from the Bank of Canada Monetary Policy Report (MPR) since they were first published in 1997. Over the last decade, it has become common practice among the central banking community to discuss forecast performance publicly.

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