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8641 Results

October 22, 2001

Terms and Conditions for the Expanded Bank of Canada Collateral List Effective 1 November 2001

In July 2001, the Bank announced its intention to expand the list of collateral eligible for use in the Large Value Transfer System (LVTS), for loans made to direct participants in LVTS and the Automated Clearing Settlement System (ACSS), and to secure bank note withdrawals. Effective 1 November 2001, the list of eligible collateral will be expanded and will comprise the following:
Content Type(s): Press, Market notices
October 4, 2001

Debt Management Operational Enhancements

A key federal debt strategy objective is maintaining a well-functioning market in Government of Canada securities. In keeping with the government's commitment to market consultations in domestic debt management issues, in August 2001 consultations were held with market participants on potential operational enhancements.
Content Type(s): Press, Market notices
October 4, 2001

Market Consultations, Summer 2002: Summary of Comments

Summary Overall, market participants have a positive view of the consultation process and the debt program initiatives that the government has undertaken in recent years, in particular supporting new bond issuance through buybacks. Market participants understand that a trade-off exists between supporting a large new issuance program through buybacks and maintaining adequate liquidity in large […]

Why Do Central Banks Smooth Interest Rates?

Staff Working Paper 2001-17 Gabriel Srour
It is commonly observed that central banks respond gradually to economic shocks, moving the interest rate in small discrete steps in the same direction over an extended period of time. This paper examines the empirical evidence regarding central banks' smoothing of interest rates, paying particular attention to the case of Canada.
Content Type(s): Staff research, Staff working papers Topic(s): Monetary policy implementation JEL Code(s): E, E5

Implications of Uncertainty about Long-Run Inflation and the Price Level

Staff Working Paper 2001-16 Gerald Stuber
This paper surveys recent developments in the theoretical and empirical literature on the economic implications of uncertainty about the longer-term outlook for inflation. In particular, the linkages between inflation, long-run inflation uncertainty, and aggregate economic activity in industrial economies have become considerably better understood during the past decade.
Content Type(s): Staff research, Staff working papers Topic(s): Inflation: costs and benefits JEL Code(s): E, E2, E22, E3, E31, E4, E44

Affine Term-Structure Models: Theory and Implementation

Staff Working Paper 2001-15 David Bolder
Affine models describe the stylized time-series properties of the term structure of interest rates in a reasonable manner, they generalize relatively easily to higher dimensions, and a vast academic literature exists relating to their implementation. This combination of characteristics makes the affine class a natural introductory point for modelling interest rate dynamics.
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