Posts

• April 16, 2002

  Bank of Canada raises overnight rate target by 1/4 percentage point to 2 1/4 per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 2 1/4 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 2 1/2 per cent.

  Content Type(s): Press, Press releases

• Risk, Entropy, and the Transformation of Distributions

  Staff Working Paper 2002-11 Mark Reesor, Don McLeish

  The exponential family, relative entropy, and distortion are methods of transforming probability distributions. We establish a link between those methods, focusing on the relation between relative entropy and distortion.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Financial markets, Market structure and pricing JEL Code(s): C, C0, C1, D, D8, G, G0

• La fiabilité des estimations de l'écart de production au Canada

  Staff Working Paper 2002-10 Jean-Philippe Cayen, Simon van Norden

  In this paper, we measure, with Canadian data, the scope of the revisions to real-time estimates of the output gap generated with several univariate and multivariate techniques. We also make an empirical evaluation of the usefulness of the output gap estimates for predicting inflation.

  Content Type(s): Staff research, Staff working papers Topic(s): Potential output JEL Code(s): E, E3, E32

• The Microstructure of Multiple-Dealer Equity and Government Securities Markets: How They Differ

  Staff Working Paper 2002-9 Toni Gravelle

  Although dealership government and equity securities have, on the surface, similar market structures, the author demonstrates that some subtle differences exist between them that are likely to significantly affect the way market-makers trade, and as such have an impact on the liquidity that they provide.

  Content Type(s): Staff research, Staff working papers Topic(s): Debt management, Financial markets, Market structure and pricing JEL Code(s): G, G1, G10, G15, G18

• Restructuring in the Canadian Economy: A Survey of Firms

  Staff Working Paper 2002-8 Carolyn Kwan

  The regional offices of the Bank conducted a survey of 140 Canadian companies (representing all non-government sectors of the economy) to study the effects of restructuring (defined as a major change in the way firms do business).

  Content Type(s): Staff research, Staff working papers Topic(s): Labour markets, Productivity, Regional economic developments JEL Code(s): O, O5, O51