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The authors investigate the behaviour of core inflation in Canada to analyze three key issues: (i) homogeneity in the response of various price indexes to demand or real exchange rate shocks relative to the response of aggregate core inflation; (ii) whether using disaggregate data helps to improve the forecast of core inflation; and (iii) whether using monthly data helps to improve quarterly forecasts.

The author provides an overview of the 1975–78 Anti-Inflation Program (AIP), in a background document prepared for a seminar organized by the Bank of Canada to mark the AIP's 30th anniversary.

Most financial markets allow investors to submit both limit and market orders, but it is not always clear what affects the choice of order type.

The author proposes and evaluates econometric models that try to explain and forecast real quarterly housing expenditures in Canada. Structural and leading-indicator models of the Canadian housing sector are described.

The author documents the use by Canadian banks of subordinated debt (SD) as a capital instrument.

The consumer price index (CPI) is the most commonly used measure of inflation in Canada.

Over the past few years, the ability of the United States to finance its current account deficit has been facilitated by massive purchases of U.S.

The authors document the research output of 34 central banks from 1990 to 2003, and use proxies of research inputs to measure the research productivity of central banks over this period.

The analysis and forecasting of developments in the U.S. economy have always played a critical role in the formulation of Canadian economic and financial policy. Thus, the Bank places considerable importance on generating internal forecasts of U.S. economic activity as an input to the Canadian projection.

The authors develop and estimate an equilibrium-based model of the Canadian term structure of interest rates.