An Empirical Analysis of Foreign Exchange Reserves in Emerging Asia
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.
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2457
result(s)
Quantity, Quality, and Relevance: Central Bank Research, 1990–2003
Staff Working Paper 2005-37
Pierre St-Amant,
Greg Tkacz,
Annie Guérard-Langlois,
Louis Morel
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.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Central bank research
JEL Code(s):
E,
E5,
E59
MUSE: The Bank of Canada's New Projection Model of the U.S. Economy
Technical Report No. 96
Marc-André Gosselin,
René Lalonde
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.
Content Type(s):
Staff research,
Technical reports
Research Topic(s):
Business fluctuations and cycles,
Economic models
JEL Code(s):
C,
C5,
C53,
E,
E1,
E17,
E2,
E27,
E3,
E37,
F,
F1,
F17
The Canadian Macroeconomy and the Yield Curve: An Equilibrium-Based Approach
Staff Working Paper 2005-36
René Garcia,
Richard Luger
The authors develop and estimate an equilibrium-based model of the Canadian term structure of interest rates.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Interest rates
JEL Code(s):
E,
E4,
E43,
E44,
E47,
E5,
E52
Testing the Parametric Specification of the Diffusion Function in a Diffusion Process
Staff Working Paper 2005-35
Fuchun Li
A new consistent test is proposed for the parametric specification of the diffusion function in a diffusion process without any restrictions on the functional form of the drift function.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Econometric and statistical methods,
Interest rates
JEL Code(s):
C,
C1,
C12,
C14
The Exchange Rate and Canadian Inflation Targeting
Staff Working Paper 2005-34
Christopher Ragan
The author provides a non-technical explanation of the role played by the exchange rate in Canada's inflation-targeting monetary policy.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Exchange rates,
Inflation targets,
Monetary policy implementation
JEL Code(s):
E,
E5,
E50,
E52,
F,
F4,
F41
Does Financial Structure Matter for the Information Content of Financial Indicators?
Staff Working Paper 2005-33
Ramdane Djoudad,
Jack Selody,
Carolyn A. Wilkins
Of particular concern to monetary policy-makers is the considerable unreliability of financial variables for predicting GDP growth and inflation.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Business fluctuations and cycles,
Credit and credit aggregates,
Inflation and prices,
Interest rates,
Monetary aggregates
JEL Code(s):
E,
E3,
E31,
E32
Degree of Internationalization and Performance: An Analysis of Canadian Banks
Staff Working Paper 2005-32
Walid Hejazi,
Eric Santor
The international business literature measures the link between the degree of internationalization (DOI) of a firm's activities and its performance.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Financial institutions
JEL Code(s):
F,
F2,
F23,
G,
G2,
G21
Forecasting Canadian GDP: Region-Specific versus Countrywide Information
Staff Working Paper 2005-31
Frédérick Demers,
David Dupuis
The authors investigate whether the aggregation of region-specific forecasts improves upon the direct forecasting of Canadian GDP growth.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Econometric and statistical methods
JEL Code(s):
C,
C3,
C32,
C5,
C53,
E,
E1,
E17
October 25, 2005
Exports, Imports, and the Appreciation of the Canadian Dollar
An objective assessment of the effects of the appreciation of the Canadian dollar in 2003 and 2004 on exports and imports requires a detailed review of the numerous other factors which may have been at play. Dion, Laurence, and Zheng discuss the influences that have affected Canada's international trade over the past two years, including exchange rate movements, global and sector-specific shocks, constraints on the domestic supply of a few products, and competition from emerging economies, most notably, China. The analysis is complemented with econometric models developed at the Bank which provide statistically valid estimates of the contribution of the Canadian-dollar appreciation to the recent developments in exports and imports.
Content Type(s):
Publications,
Bank of Canada Review articles
Research Topic(s):
Balance of payments and components,
Exchange rates,
International topics