The U.S. Stock Market and Fundamentals: A Historical Decomposition Staff Working Paper 2003-20 David Dupuis, David Tessier The authors identify the fundamentals behind the dynamics of the U.S. stock market over the past 30 years. They specify a structural vector-error-correction model following the methodology of King, Plosser, Stock, and Watson (1991). Content Type(s): Staff research, Staff working papers Topic(s): Financial markets JEL Code(s): G, G1
A Small Dynamic Hybrid Model for the Euro Area Staff Working Paper 2003-19 Ramdane Djoudad, Céline Gauthier The authors estimate and solve a small structural model for the euro area over the 1983–2000 period. Given the assumption of rational expectations, the model implies a set of orthogonality conditions that provide the basis for estimating the model's parameter by generalized method of moments. Content Type(s): Staff research, Staff working papers Topic(s): Monetary policy transmission JEL Code(s): E, E3, E31
Technological Change and the Education Premium in Canada: Sectoral Evidence Staff Working Paper 2003-18 Jean Farès, Terence Yuen It has been well documented that the education premium measured by the wage difference between university and high school graduates has remained constant over the past two decades in Canada. Despite this stable pattern at the aggregate level, skill-biased technology could have important implications for the inter-industry wage structure. Content Type(s): Staff research, Staff working papers Topic(s): Labour markets JEL Code(s): J, J3, J31, O, O3, O30
June 23, 2003 Financial System Review - June 2003 This section of the Financial System Review examines the recent performance of the Canadian financial system and the factors, both domestic and international, that are influencing it. Content Type(s): Publications, Financial System Review
June 23, 2003 Business-Continuity Planning in Clearing and Settlement Systems: A Systemwide Approach Financial System Review - June 2003 Ron Allenby Content Type(s): Publications, Financial System Review articles
June 23, 2003 CDSX: Canada’s New Clearing and Settlement System for Securities Financial System Review - June 2003 Darcey McVanel Content Type(s): Publications, Financial System Review articles
June 20, 2003 Bank of Canada Announces Appointment of Special Adviser Media Relations Ottawa, Ontario The Bank of Canada today announced the appointment of Professor John Helliwell to the visiting-economist position of Special Adviser during 2003 and 2004. Content Type(s): Press, Press releases
June 18, 2003 Governor Reviews Recent Economic Developments Media Relations Halifax, Nova Scotia Bank of Canada Governor David Dodge reviewed some of the developments that are influencing the Canadian economy in a speech today to the Metropolitan Halifax Chamber of Commerce. Content Type(s): Press, Press releases
June 18, 2003 Recent Economic Developments and the Conduct of Monetary Policy Remarks David Dodge Metropolitan Halifax Chamber of Commerce Halifax, Nova Scotia It's been a year since I last spoke in Halifax, and a lot has changed since then. We've witnessed some extraordinary events, both in Canada and around the world. On the whole, Canada's economy has withstood the turmoil quite well. The impact of some more recent events is not yet clear. Content Type(s): Press, Speeches and appearances, Remarks
June 12, 2003 Governor Reviews Recent Economic Developments Media Relations Montréal, Quebec Bank of Canada Governor David Dodge reviewed some of the developments that are influencing both demand and prices for Canadian goods and services in a speech today to the Conseil du patronat du Québec. Content Type(s): Press, Press releases