Staff discussion papers are completed staff research studies on a wide variety of subjects relevant to central bank policy.
Implications of New Accounting Standards for the Bank of Canada's Balance SheetThe Canadian Institute of Chartered Accountants (CICA) has implemented new accounting standards for the valuation and reporting of financial instruments. They are effective for the Bank of Canada in 2007. As a result of these changes, the Bank has begun valuing its holdings of Government of Canada treasury bills on a fair value basis and […]
The Zero Bound on Nominal Interest Rates: Implications for the Optimal Monetary Policy in CanadaThe authors assess the performance of the Canadian economy under a variety of interest rate rules when the zero bound on nominal interest rates can bind. Their assessment is based on numerical simulations of a dynamic stochastic general-equilibrium model in a stochastic environment. Consistent with the literature, the authors find that the probability and consequences […]
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