Posts

• November 11, 1998

  A primer on the implementation of monetary policy in the LVTS environment

  Bank of Canada Review - Autumn 1998 Donna Howard

  The author summarizes the objectives and key elements of the framework that the Bank will use to implement monetary policy under the new payments system. The article includes a comparison of the key features of the pre-LVTS framework with that to be used in the LVTS environment. It also features a glossary of terms with respect to the Bank's monetary policy operations.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Monetary policy implementation, Payment clearing and settlement systems

• 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 […]

  Content Type(s): Staff research, Staff working papers
• November 5, 1998

  Government of Canada Pilot Bond Buyback Program Launch: Operational Framework

  Media Relations Ottawa, Ontario

  On behalf of the Minister of Finance, the Bank of Canada announced today the operational framework for the previously announced pilot bond buyback program.

  Content Type(s): Press, Press releases
• 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 […]

  Content Type(s): Press, Speeches and appearances, Opening statements
• October 16, 1998

  Bank Rate Lowered by ¼ Percentage Point to 5½ Per Cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today lowered its Bank Rate by ¼ of one percentage point to 5½ per cent.

  Content Type(s): Press, Press releases
• October 15, 1998

  The Canadian Experience with Targets for Inflation Control

  Remarks Gordon Thiessen Queen's University Kingston, Ontario

  As an economist who worked as a banker for most of his career, Douglas Gibson brought an interesting perspective to public policy issues, to the relationship between government and business, and to the contribution of outside economists to government policies.

  Content Type(s): Press, Speeches and appearances, Remarks

• 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

  Robert Ogrodnick Ottawa, Ontario

  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
• September 29, 1998

  Bank Rate Lowered by ¼ Percentage Point to 5¾ Per Cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today lowered its Bank Rate by ¼ of one percentage point to 5¾ per cent.

  Content Type(s): Press, Press releases