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8648 Results

Evaluating Alternative Measures of the Real Effective Exchange Rate

Staff Working Paper 1998-20 Robert Lafrance, Patrick Osakwe, Pierre St-Amant
This paper discusses the merits and shortcomings of alternative price indices used in constructing real effective exchange rate indices and examines the effects of different weighting schemes. It also compares selected measures of the real effective exchange rate in terms of their ability to explain movements in Canadian net exports and real output. The paper […]
October 27, 1998

Opening Statement before the House of Commons Standing Committee on Finance

Opening statement Gordon Thiessen House of Commons Standing Committee on Finance
Mr. Chairman, I am pleased to appear before you today as part of your study of the Task Force Report on the Future of the Canadian Financial Services Sector. Perhaps it might be helpful if I were to start by clarifying the Bank of Canada’s role in this area. The Bank has no formal responsibility […]

Can a Matching Model Explain the Long-Run Increase in Canada's Unemployment Rate?

Staff Working Paper 1998-19 Andreas Hornstein, Mingwei Yuan
The authors construct a simple general equilibrium model of unemployment and calibrate it to the Canadian economy. Job creation and destruction are endogenous. In this model, they consider several potential factors that could contribute to the long-run increase in the Canadian unempoloyment rate: a more generous unemployment insurance system, higher layoff costs, higher discretionary taxes, […]
Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Fiscal policy, Labour markets JEL Code(s): E, E2, E6, J, J4

The Sale of Durable Goods by a Monopolist in a Stochastic Environment

Staff Working Paper 1998-18 Gabriel Srour
This paper examines the sale of durable goods by a monopolist in a stochastic partil equilibrium setting. It analyzes the responses of prices and output to various types of shocks and notes the differences with non-durable goods and competitive markets. It shows that behavior in this model with constant marginal costs of production is in […]
Content Type(s): Staff research, Staff working papers Topic(s): Market structure and pricing JEL Code(s): D, D4
September 29, 1998

Survey of Foreign Exchange and Derivatives Market Activity in Canada

Summary results of a survey of Canadian foreign exchange and derivatives markets are now available. The survey was conducted by the Bank of Canada in April 1998 and covered activity in the foreign exchange and derivatives markets. Similar surveys were undertaken by about 40 other countries during the same month, and the central banks of many of those countries are also releasing their results today.
Content Type(s): Press, Press releases
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