Posts

• December 23, 2004

  A Survey of the Price-Setting Behaviour of Canadian Companies

  Bank of Canada Review - Winter 2004-2005 David Amirault, Carolyn Kwan, Gordon Wilkinson

  To better understand price-setting behaviour in the Canadian economy, the Bank of Canada's regional offices surveyed a representative sample of 170 firms between July 2002 and March 2003. The authors discuss the reasons behind the survey, the methodology used to develop the questionnaire and conduct the interviews, and summarize the results. The study also assessed several explanations for holding prices steady despite market pressures for a change. The survey findings indicate that prices in Canada are relatively flexible and have become more flexible over the past decade. Price stickiness was generally found to originate in firms' fears of antagonizing customers or disturbing the goodwill or reputation developed with them. A detailed discussion of the results includes a consideration of their implications for monetary policy.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Inflation and prices, Monetary policy transmission
• December 20, 2004

  The New International Monetary Order

  Bank of Canada Review - Winter 2004-2005 Mark Carney

  Mark Carney, Senior Associate Deputy Minister, Department of Finance, Speech to the Toronto Society of Financial Analysts

  Content Type(s): Publications, Bank of Canada Review articles
• December 17, 2004

  Bank of Canada announces Deputy Governor appointment

  Media Relations Ottawa, Ontario

  The Board of Directors of the Bank of Canada today announced the appointment of Tiff Macklem as Deputy Governor of the Bank and a member of the Bank's Governing Council, effective 29 December. Mr. Macklem's appointment fills the vacancy created by the departure of Mark Carney.

  Content Type(s): Press, Press releases
• December 12, 2004

  Housing and the Macroeconomy

  Conference held on 12 to 14 December 2004 (papers in unedited, electronic format only)

  Content Type(s): Conferences and workshops
• December 9, 2004

  Financial System Efficiency: A Canadian Imperative

  Remarks David Dodge Empire Club of Canada and the Canadian Club of Toronto Toronto, Ontario

  When I talk about the "financial system," I am referring to financial institutions and markets, the infrastructure, laws, and regulations that govern and support their operations, and the macroeconomic framework within which they operate. My message for you is that improving the efficiency of Canada's financial system is imperative.

  Content Type(s): Press, Speeches and appearances, Remarks
• December 9, 2004

  Governor Dodge Says Canada Must Improve Its Financial System Efficiency

  Media Relations Toronto, Ontario

  Bank of Canada Governor David Dodge said today it is imperative that Canada work to enhance the efficiency of its financial system.

  Content Type(s): Press, Press releases
• December 7, 2004

  Bank of Canada keeps target for the overnight rate at 2 1/2 per cent

  Media Relations Ottawa, Ontario

  he Bank of Canada today announced that it is maintaining its target for the overnight rate at 2 1/2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2 3/4 per cent.

  Content Type(s): Press, Press releases
• December 1, 2004

  Nominations Invited for the Bank of Canada's Law Enforcement Award of Excellence for Counterfeit Deterrence

  Media Relations Ottawa, Ontario

  Effective today, the Bank of Canada is inviting nominations for the second annual Law Enforcement Award of Excellence for Counterfeit Deterrence. This award is presented to one or more police officers, employees, or volunteers of a Canadian law enforcement agency who have demonstrated outstanding commitment and initiative in the fight against bank note counterfeiting or in the prevention of counterfeiting.

  Content Type(s): Press, Press releases

• Trade Credit and Credit Rationing in Canadian Firms

  Staff Working Paper 2004-49 Rose Cunningham

  Burkart and Ellingsen's (2004) model of trade credit and bank credit rationing predicts that trade credit will be used by medium-wealth and low-wealth firms to help ease bank credit rationing.

  Content Type(s): Staff research, Staff working papers Topic(s): Credit and credit aggregates, Financial markets JEL Code(s): G, G1, G14, G2, G21, G3, G32

• An Empirical Analysis of the Canadian Term Structure of Zero-Coupon Interest Rates

  Staff Working Paper 2004-48 David Bolder, Adam Metzler, Grahame Johnson

  Zero-coupon interest rates are the fundamental building block of fixed-income mathematics, and as such have an extensive number of applications in both finance and economics.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Financial markets, Interest rates JEL Code(s): C, C0, C6, E, E4, G, G1