Search

Content Types

Topics

JEL Codes

Locations

Departments

Authors

Sources

Statuses

Published After

Published Before

167 Results

On Inflation and the Persistence of Shocks to Output

Staff Working Paper 2001-22 Maral Kichian, Richard Luger
This paper empirically investigates the possibility that the effects of shocks to output depend on the level of inflation. The analysis extends Elwood's (1998) framework by incorporating in the model an inflation-threshold process that can potentially influence the stochastic properties of output.

The Zero Bound on Nominal Interest Rates: How Important Is It?

Staff Working Paper 2001-6 David Amirault, Brian O'Reilly
This paper surveys the literature on the zero bound on the nominal interest rate. It addresses questions ranging from the conditions under which the zero bound on the nominal interest rate might occur to policy options to avoid or use to exit from such a situation. We discuss literature that examines historical and country evidence, and literature that uses models to generate evidence on this question.

Probing Potential Output: Monetary Policy, Credibility, and Optimal Learning under Uncertainty

Staff Working Paper 2000-10 James Yetman
The effective conduct of monetary policy is complicated by uncertainty about the level of potential output, and thus about the size of the monetary policy response that would be sufficient to achieve the targeted inflation rate. One possible response to such uncertainty is for the monetary authority to "probe," interpreted here as actively using its policy response to learn about the level of potential output.

Greater Transparency in Monetary Policy: Impact on Financial Markets

Technical Report No. 86 Philippe Muller, Mark Zelmer
Measures have been taken by the Bank of Canada to increase the transparency of Canadian monetary policy. This paper examines whether the greater transparency has improved financial markets' understanding of the conduct of monetary policy.

Constraints on the Conduct of Canadian Monetary Policy in the 1990s: Dealing with Uncertainty in Financial Markets

Technical Report No. 80 Kevin Clinton, Mark Zelmer
Canada's economic performance in the first half of the 1990s was adversely affected by high premiums in interest rates that were brought on by political and economic uncertainties.

Monetary Shocks in the G-6 Countries: Is There a Puzzle?

Staff Working Paper 1997-7 Ben Fung, Marcel Kasumovich
This paper attempts to reduce the uncertainty about the dynamics of the monetary transmission mechanism. Central to this attempt is the identification of monetary policy shocks. Recently, VAR approaches that use over-identifying restrictions have shown success in isolating such shocks.
Go To Page