June 1, 1994
Summer 1994
Canada's net external indebtedness increased from $110 billion in 1980 to $313 billion in 1993, reflecting the accumulation of current account deficits over many years.
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565
result(s)
From Monetary Policy Instruments to Administered Interest Rates: The Transmission Mechanism in Canada
Technical Report No. 69
Kevin Clinton,
Donna Howard
The authors investigate interest-rate aspects of the transmission mechanism of monetary policy instruments in Canada, focussing on the stability of the relationships between some key interest rates and the instruments of monetary policy. To determine what shifts may have occurred in recent years, they describe movements in rate differentials, apply cointegration tests and estimate error-correction […]
Content Type(s):
Staff research,
Technical reports
Research Topic(s):
Monetary policy transmission
JEL Code(s):
E,
E5,
E52
The Term Structure and Real Activity in Canada
Staff Working Paper 1994-3
Barry Cozier,
Greg Tkacz
This paper examines the predictive content of the term structure of interest rates for economic activity in Canada. Recent papers for the United States and other countries find that the slope of the term structure is a very good predictor of output growth.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Interest rates,
Monetary and financial indicators
The Microstructure of Financial Derivatives Markets: Exchange-Traded versus Over-the-Counter
Technical Report No. 68
Brenda González-Hermosillo
In this report the author focusses on the microstructure of derivatives markets. While the primary objective is to examine derivatives markets in Canada, the author also discusses certain developments in global derivatives markets that are bound to influence the functioning and development of financial markets in a small, open economy such as Canada's. It is […]
Content Type(s):
Staff research,
Technical reports
Research Topic(s):
Financial markets
JEL Code(s):
G,
G1,
G10
The Role of House Prices in Regional Inflation Disparities
Technical Report No. 67
Dinah Maclean
Theoretically, house prices will reveal greater disparities between regions than prices for more easily tradable goods and services. This contributes to regional disparities in inflation. In this report the author reviews a range of factors that are likely to cause greater disparities in house price inflation than in the price inflation of other goods and […]
Content Type(s):
Staff research,
Technical reports
Research Topic(s):
Regional economic developments