Posts

• January 15, 2002

  Bank of Canada lowers key policy interest rate by 1/4 percentage point to 2 per cent

  Media Relations Ottawa, Ontario

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

  Content Type(s): Press, Press releases
• January 5, 2002

  Inflation Targeting in Canada: Experience and Lessons

  Remarks David Dodge Central Bank Governor's Panel on Inflation Targeting at a joint session of The American Economic Association and the North American Economics and Finance Association Atlanta, Georgia

  In the 1970s and 1980s we found - in common with many other countries - that high and variable rates of inflation created a lot of economic damage. And it took a long time and a lot of work with various monetary policy frameworks before we got back on track.

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

• An Introduction to Wavelets for Economists

  Staff Working Paper 2002-3 Christoph Schleicher

  Wavelets are mathematical expansions that transform data from the time domain into different layers of frequency levels. Compared to standard Fourier analysis, they have the advantage of being localized both in time and in the frequency domain, and enable the researcher to observe and analyze data at different scales.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods JEL Code(s): C, C1

• Asset Allocation Using Extreme Value Theory

  Staff Working Paper 2002-2 Younes Bensalah

  This paper examines asset allocation strategies in an extreme value at risk (VaR) framework in which the risk measure is the p-quantile from the extreme value distribution. The main focus is on the allocation problem faced by an extremely risk-averse institution, such as a central bank.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets JEL Code(s): C, C0, C4, C5, G, G1

• Taylor Rules in the Quarterly Projection Model

  Staff Working Paper 2002-1 Ben Fung, Dinah Maclean, Jamie Armour

  In recent years, there has been a lot of interest in Taylor-type rules. Evidence in the literature suggests that Taylor-type rules are optimal in a number of models and are fairly robust across different models.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Monetary policy and uncertainty, Monetary policy framework JEL Code(s): E, E5, E52