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66
result(s)
November 19, 2015
A Survey of Consumer Expectations for Canada
The Bank of Canada recently launched a quarterly survey to measure the expectations of Canadian households: the Canadian Survey of Consumer Expectations (CSCE). The data collected provide comprehensive information about consumer expectations for and uncertainty about inflation, the labour market and household finance. This article describes the CSCE and illustrates its potential to offer rich information about Canadian consumers for researchers and policy-makers.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Central bank research,
Housing,
Inflation and prices,
Interest rates,
Labour markets,
Monetary policy and uncertainty
JEL Code(s):
D,
D1,
D12,
D8,
D84,
E,
E3,
E31,
E5,
E52,
J,
J0
Forward Guidance at the Effective Lower Bound: International Experience
Staff Discussion Paper 2015-15
Karyne B. Charbonneau,
Lori Rennison
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.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Monetary policy and uncertainty,
Monetary policy communications,
Monetary policy framework,
Monetary policy implementation,
Monetary policy transmission
JEL Code(s):
E,
E4,
E43,
E5,
E52,
E58,
E6
November 13, 2014
Firm Strategy, Competitiveness and Productivity: The Case for Canada
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.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Business fluctuations and cycles,
Monetary policy and uncertainty,
Potential output,
Productivity
JEL Code(s):
D,
D2,
D23,
D24,
E,
E2,
E22,
F,
F2,
F20,
L,
L1,
L10,
L2,
L20,
M,
M1,
M10,
O,
O3,
O31,
O4,
O47
Integrating Uncertainty and Monetary Policy-Making: A Practitioner’s Perspective
Staff Discussion Paper 2014-6
Stephen S. Poloz
This paper discusses how central banking is evolving in light of recent experience, with particular emphasis on the incorporation of uncertainty into policy decision-making.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Economic models,
Financial stability,
Monetary policy and uncertainty,
Monetary policy communications,
Monetary policy framework
JEL Code(s):
C,
C5,
C50,
E,
E3,
E37,
E5,
E6,
E61
May 13, 2014
Measuring Uncertainty in Monetary Policy Using Realized and Implied Volatility
Uncertainty surrounding the Bank of Canada’s future policy rates is measured using implied volatility computed from interest rate options and realized volatility computed from intraday prices of interest rate futures. Both volatility measures show that uncertainty decreased following major policy actions taken by the Bank in response to the 2007–09 financial crisis. Findings also indicate that, on average, uncertainty decreases following the Bank’s policy rate announcements.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Monetary policy and uncertainty
JEL Code(s):
E,
E5,
E52,
E58
Measuring Uncertainty in Monetary Policy Using Implied Volatility and Realized Volatility
Staff Working Paper 2013-37
Bo Young Chang,
Bruno Feunou
We measure uncertainty surrounding the central bank’s future policy rates using implied volatility computed from interest rate option prices and realized volatility computed from intraday prices of interest rate futures.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Monetary and financial indicators,
Monetary policy and uncertainty
JEL Code(s):
E,
E4
Uncertain Fiscal Consolidations
Staff Working Paper 2013-26
Huixin Bi,
Eric M. Leeper,
Campbell Leith
The paper explores the macroeconomic consequences of fiscal consolidations whose timing and composition - either tax- or spending-based - are uncertain.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Fiscal policy,
Monetary policy and uncertainty
JEL Code(s):
E,
E6,
E62,
E63,
H,
H3,
H30,
H6,
H60
Financial Stress, Monetary Policy, and Economic Activity
Staff Working Paper 2010-12
Fuchun Li,
Pierre St-Amant
This paper examines empirically the impact of financial stress on the transmission of monetary policy shocks in Canada. The model used is a threshold vector autoregression in which a regime change occurs if financial stress conditions cross a critical threshold.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial stability,
Monetary policy and uncertainty
JEL Code(s):
C,
C0,
C01,
E,
E5,
E50,
G,
G0,
G01
March 9, 2010