November 22, 2004
Staff research, Publications
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November 21, 2004
Summary of the G-20 Workshop on Developing Strong Domestic Financial Markets, 26-27 April 2004
G-20 representatives, academics, market participants, and members of international financial institutions were brought together in Ottawa to explore the connection between robust financial markets and economic growth and development, share experiences, and to develop policy recommendations, where possible. Participants identified several areas they deemed critical for fostering strong domestic financial markets and reducing external vulnerability: sound macroeconomics policies, strengthened financial infrastructures and banking systems, and exchange rate flexibility for countries with widely open capital accounts. Papers presented in the six sessions and keynote address highlighted a number of issues, including currency mismatches, the sequence of financial liberalization and supervisory reforms, the development of local financial markets, infrastructure building and governance, and appropriate incentives. -
November 20, 2004
Monetary Policy and Uncertainty
Remarks by David Longworth, Deputy Governor of the Bank of Canada to the Canadian Association for Business Economics -
The Transmission of World Shocks to Emerging-Market Countries: An Empirical Analysis
The first step in designing effective policies to stabilize an economy is to understand business cycles. No country is isolated from the world economy and external shocks are becoming increasingly important. -
Real Return Bonds, Inflation Expectations, and the Break-Even Inflation Rate
According to the Fisher hypothesis, the gap between Canadian nominal and Real Return Bond yields (or break-even inflation rate) should be a good measure of inflation expectations. -
International Equity Flows and Returns: A Quantitative Equilibrium Approach
The authors model trading by foreign and domestic investors in developed-country equity markets. -
Characterization of the Dynamic Effects of Fiscal Shocks in a Small Open Economy
The author studies the macroeconomic consequences of discretionary changes in the fiscal policy instruments for Canada. -
October 21, 2004
Monetary Policy Report – October 2004
The Canadian economy continues to adjust to major global developments. -
October 8, 2004
Business Outlook Survey - Autumn 2004
Businesses remain essentially as optimistic about the economic outlook as they were in the summer survey. Although they have marked down their growth forecast for the U.S. economy, businesses expect stronger domestic demand.Supplemental questions on the appreciation of the Canadian dollar - October 2004
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Prévision et analyse de la production manufacturière au Canada : comparaison de modèles linéaires et non linéaires
In this paper, the author describes reduced-form linear and non-linear econometric models developed to forecast and analyze quarterly data on output growth in the Canadian manufacturing sector from 1981 to 2003.