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Staff discussion papers
Inventories, Stockouts, and ToTEM
Inventory investment is an important component of the Canadian business cycle. Despite its small average size – less than 1 per cent of output – it exhibits volatile procyclical fluctuations, accounting for almost one-third of output variance.Technical reports
ToTEM II: An Updated Version of the Bank of Canada’s Quarterly Projection Model
This report provides a detailed technical description of an updated version of the Terms-of-Trade Economic Model (ToTEM II), which replaced ToTEM (Murchison and Rennison 2006) in June 2011 as the Bank of Canada’s quarterly projection model for Canada.Bank publications
Bank of Canada Review articles
August 18, 2011