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8939 Results

March 12, 2002

Bank of Canada Governor Reviews Canadian Monetary Policy Choices

In particular, the Governor discussed how the Bank of Canada aims to promote economic growth by means of a monetary policy symmetrically focused on a 2 per cent inflation target. "We pay equal attention to any significant movement away from 2 per cent - whether above or below," Mr. Dodge said. In contrast, the European Central Bank has an inflation-control ceiling of 2 per cent, he noted.
Content Type(s): Press, Press releases
February 20, 2002

Bank of Canada Governor reviews Canada's experience with inflation targets and a flexible exchange rate

In a speech to the Canadian Society of New York, Bank of Canada Governor David Dodge said today that Canada's monetary policy framework, based on an explicit inflation-control target and a flexible exchange rate, "has contributed importantly to putting the Canadian economy back on the right path to longer-term prosperity."
Content Type(s): Press, Press releases
February 20, 2002

Canada's Experience with Inflation Targets and a Flexible Exchange Rate: Lessons Learned

Remarks David Dodge Canadian Society of New York New York, New York
The Canadian economy has undergone a dramatic transformation over the past decade. And it has emerged as a low-inflation economy, with declining levels of public and foreign debt and a private sector that is more cost-conscious, productive, and efficient, thanks to restructuring and investments in new technology.

The Effects of Bank Consolidation on Risk Capital Allocation and Market Liquidity

Staff Working Paper 2002-5 Chris D'Souza, Alexandra Lai
This paper investigates the effects of financial market consolidation on risk capital allocation in a financial institution and the implications for market liquidity in dealership markets. We show that an increase in financial market consolidation can have ambiguous effects on liquidity in foreign exchange and government securities markets.
Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial markets JEL Code(s): G, G2, G28, G3, G31, G34

Does Micro Evidence Support the Wage Phillips Curve in Canada?

Staff Working Paper 2002-4 Jean Farès
The existing macroeconometric evidence lends support to the wage Phillips curve by showing a negative relation between the rate of change in wages and the unemployment rate, conditional on lagged price inflation. Most theoretical models of wage setting, however, generate a "wage curve," described by a negative relation between the level of the real wage and unemployment.
Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices JEL Code(s): J, J3, J31
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