Posts

• January 29, 1999

  Annual Report 1998

  

  Inflation remained low for the seventh consecutive year, and the inflation target range of 1 to 3 per cent was extended to 2001.

  Content Type(s): Publications, Annual Report
• January 28, 1999

  Bank of Canada Welcomes Canada's New Funds Transfer System

  Media Relations Ottawa, Ontario

  The Bank of Canada today welcomed the announcement by the Canadian Payments Association that full operation of the Large Value Transfer System (LVTS) will begin on 4 February 1999.

  Content Type(s): Press, Press releases

• Forecasting GDP Growth Using Artificial Neural Networks

  Staff Working Paper 1999-3 Greg Tkacz, Sarah Hu

  Financial and monetary variables have long been known to contain useful leading information regarding economic activity. In this paper, the authors wish to determine whether the forecasting performance of such variables can be improved using neural network models. The main findings are that, at the 1-quarter forecasting horizon, neural networks yield no significant forecast improvements. […]

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Monetary and financial indicators JEL Code(s): C, C4, C45, E, E3, E37, E4, E44
• January 20, 1999

  The euro: Its economic implications and its lessons for Canada

  Remarks Gordon Thiessen Canadian Club of Ottawa Ottawa, Ontario

  We have just witnessed the dawn of a new era in Europe. Beginning this month, 11 of the 15 member countries of the European Union have joined in a currency union. And they are using the euro as their common currency. The currency union is yet another step on the road to greater economic, social, and political integration in Europe - a vision some 50 years in the making.

  Content Type(s): Press, Speeches and appearances, Remarks
• January 20, 1999

  Bank of Canada Governor Addresses Canadian Club of Ottawa

  Media Relations Ottawa, Ontario

  Bank of Canada Governor Gordon Thiessen today reviewed the economic implications of the European currency union and its lessons for Canada.

  Content Type(s): Press, Press releases
• January 15, 1999

  Bank of Canada Review - Winter 1998-1999

  

  Cover page

  1858 Canadian pattern cent

  The 1858 pattern cent is approximately the size of a twenty-five cent piece.

  Photography by James Zagon.

  Content Type(s): Publications, Bank of Canada Review

• Capital Gains and Inflation Taxes in a Life-cycle Model

  Staff Working Paper 1999-2 Charles Leung, Guang-Jia Zhang

  Inflation distorts an economy through many channels. This paper highlights the interaction between inflation and capital gains tax and how they distort an economy through the financial market. Several observations motivate this research. First, capital formation or investment is an important channel for economic agents to smooth their consumption over their life cycles. Second, capital […]

  Content Type(s): Staff research, Staff working papers Topic(s): Inflation: costs and benefits JEL Code(s): E, E5, E6

• Dynamic Employment and Hours Effects of Government Spending Shocks

  Staff Working Paper 1999-1 Mingwei Yuan, Wenli Li

  In this paper, we analyze the dynamic behaviour of employment and hours worked per worker in a stochastic general equilibrium model with a matching mechanism between vacancies and unemployed workers. The model is estimated for the United States using the Generalized Methods of Moments (GMM) estimation technique. An increase in government spending raises hours worked […]

  Content Type(s): Staff research, Staff working papers Topic(s): Fiscal policy, Labour markets JEL Code(s): E, E2, E24, E3, E32, E6, E62, J, J6, J64