Lori Rennison - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T10:05:46+00:00The Case of Serial Disappointment
https://www.bankofcanada.ca/2016/07/staff-analytical-note-2016-10/
Similar to those of other forecasters, the Bank of Canada’s forecasts of global GDP growth have shown persistent negative errors over the past five years. This is in contrast to the pre-crisis period, when errors were consistently positive as global GDP surprised to the upside. All major regions have contributed to the forecast errors observed since 2011, although the United States has been the most persistent source of notable errors.2016-07-22T10:07:29+00:00enThe Case of Serial Disappointment2016-07-22Forward Guidance at the Effective Lower Bound: International Experience
https://www.bankofcanada.ca/2015/11/staff-discussion-paper-2015-15/
Forward guidance is one of the policy tools that a central bank can implement if it seeks to provide additional monetary stimulus when it is operating at the effective lower bound (ELB) on interest rates. It became more widely used during and after the global financial crisis.2015-11-13T07:20:17+00:00enForward Guidance at the Effective Lower Bound: International Experience2015-11-13Monetary policy and uncertaintyMonetary policy communicationsMonetary policy frameworkMonetary policy implementationMonetary policy transmissionStaff Discussion Paper 2015-15https://www.bankofcanada.ca/wp-content/uploads/2015/11/dp2015-15.pdfForward Guidance at the Effective Lower Bound: International ExperienceKaryne B. CharbonneauLori RennisonNovember 2015EE4E43E5E52E58E6Firm Strategy, Competitiveness and Productivity: The Case for Canada
https://www.bankofcanada.ca/wp-content/uploads/2014/11/boc-review-autumn14-rennison.pdf
At a time when the Bank is expecting a rotation of demand toward exports and investment, and transformative global trends are placing increasing emphasis on innovation, technology and organizational learning, an understanding of the competitiveness strategies of Canadian firms and the factors affecting them has become particularly relevant. This article summarizes findings from a Bank of Canada survey of 151 firms designed to extract signals on elements of firm strategy and organizational capital in order to help inform the macroeconomic outlook.2014-11-13T08:36:19+00:00enFirm Strategy, Competitiveness and Productivity: The Case for Canada2014-11-13Extracting Information from the Business Outlook Survey: A Principal-Component Approach
https://www.bankofcanada.ca/wp-content/uploads/2011/11/pichette.pdf
This article reviews recent work that uses principal-component analysis to extract information common to indicators from the Bank of Canada’s Business Outlook Survey (BOS). The authors use correlation analysis and an out-of-sample forecasting exercise to assess and compare the information content of the principal component with that of responses to key individual survey questions on growth in real gross domestic product and in real business investment. Results suggest that summarizing the common movements among BOS indicators may provide useful information for forecasting near-term growth in business investment. For growth in real gross domestic product, however, the survey’s balance of opinion on future sales growth appears to be more informative.2011-11-17T10:26:01+00:00enExtracting Information from the Business Outlook Survey: A Principal-Component Approach2011-11-17