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801
result(s)
Perceived Inflation Persistence
Staff Working Paper 2013-43
Monica Jain
The Survey of Professional Forecasters (SPF) has had vast influence on research related to better understanding expectation formation and the behaviour of macroeconomic agents. Inflation expectations, in particular, have received a great deal of attention, since they play a crucial role in determining real interest rates, the expectations-augmented Phillips curve and monetary policy.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Econometric and statistical methods,
Inflation and prices
JEL Code(s):
E,
E3,
E31,
E37
Central Bank Communications Before, During and After the Crisis: From Open-Market Operations to Open-Mouth Policy
Staff Working Paper 2013-41
Ianthi Vayid
The days when secrecy and opacity were the bywords of central banking are gone. The advent of inflation targeting in the early 1990s acted as the catalyst for enhanced transparency and communications in the conduct of monetary policy.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Central bank research,
Credibility,
Financial stability,
Inflation targets,
Monetary policy framework,
Monetary policy implementation
JEL Code(s):
E,
E5,
E52,
E58
Unemployment Fluctuations in a Small Open-Economy Model with Segmented Labour Markets: The Case of Canada
Staff Working Paper 2013-40
Yahong Zhang
The recent financial crisis and subsequent recession have spurred great interest in the sources of unemployment fluctuations. Previous studies predominantly assume a single economy-wide labour market, and therefore abstract from differences across sectorspecific labour markets in the economy.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Business fluctuations and cycles,
Economic models,
Labour markets
JEL Code(s):
E,
E3,
E32,
E4,
E44,
J,
J6
The Financialization of Food?
Staff Working Paper 2013-39
Valentina G. Bruno,
Bahattin Buyuksahin,
Michel A. Robe
Commodity-equity and cross-commodity return co-movements rose dramatically after the 2008 financial crisis. This development took place following what has been dubbed the “financialization” of commodity markets.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
International topics,
Recent economic and financial developments
JEL Code(s):
G,
G1,
G12,
G13,
Q,
Q1,
Q11,
Q13
November 14, 2013
Fragmentation in Canadian Equity Markets
Changes in technology and regulation have resulted in an increasing number of trading venues in equity markets in Canada. New trading platforms have intensified price competition and have encouraged innovation, and they do not appear to have segmented trade. But the increasingly complex market structure has necessitated investments in expensive technology and has introduced new operational risks. Regulatory responses should be carefully adapted to retain the competition and innovation associated with this market fragmentation.
Content Type(s):
Publications,
Bank of Canada Review articles
Research Topic(s):
Financial institutions,
Financial markets,
Market structure and pricing
JEL Code(s):
G,
G2,
L,
L1,
L13,
N,
N2,
N22
ToTEM II: An Updated Version of the Bank of Canada’s Quarterly Projection Model
Technical Report No. 100
José Dorich,
Michael K. Johnston,
Rhys R. Mendes,
Stephen Murchison,
Yang Zhang
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.
Content Type(s):
Staff research,
Technical reports
Research Topic(s):
Business fluctuations and cycles,
Economic models
JEL Code(s):
E,
E1,
E17,
E2,
E20,
E3,
E30,
E4,
E40,
E5,
E50,
F,
F4,
F41
Public/Private Transitions and Firm Financing
Staff Working Paper 2013-36
Kim Huynh,
Teodora Paligorova,
Robert Petrunia
A large body of empirical literature investigates differences in financing structures across firms. Private firms’ financing receives little attention due to the lack of data.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Credit and credit aggregates,
Financial markets
JEL Code(s):
G,
G3,
G30,
L,
L1,
L11
The Common Component of CPI: An Alternative Measure of Underlying Inflation for Canada
Staff Working Paper 2013-35
Mikael Khan,
Louis Morel,
Patrick Sabourin
In this paper, the authors propose a measure of underlying inflation for Canada obtained from estimating a monthly factor model on individual components of the CPI. This measure, labelled the common component of CPI, has intuitive appeal and a number of interesting features.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Business fluctuations and cycles,
Econometric and statistical methods,
Inflation and prices,
Monetary policy framework
JEL Code(s):
C,
C1,
E,
E3,
E31,
E32,
E5,
E52,
E58
Forecasting the Real Price of Oil in a Changing World: A Forecast Combination Approach
Staff Working Paper 2013-28
Christiane Baumeister,
Lutz Kilian
The U.S. Energy Information Administration regularly publishes short-term forecasts of the price of crude oil.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Econometric and statistical methods,
International topics
JEL Code(s):
C,
C5,
C53,
E,
E3,
E32,
Q,
Q4,
Q43