Posts

• Guarding Against Large Policy Errors under Model Uncertainty

  Staff Working Paper 2006-13 Gino Cateau

  How can policy-makers avoid large policy errors when they are uncertain about the true model of the economy?

  Content Type(s): Staff research, Staff working papers Topic(s): Monetary policy and uncertainty JEL Code(s): D, D8, D81, E, E5, E58

• The Welfare Implications of Inflation versus Price-Level Targeting in a Two-Sector, Small Open Economy

  Staff Working Paper 2006-12 Eva Ortega, Nooman Rebei

  The authors analyze the welfare implications of simple monetary policy rules in the context of an estimated model of a small open economy for Canada with traded and non-traded goods, and with sticky prices and wages.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Exchange rates, Inflation targets JEL Code(s): E, E3, E31, E32, E5, E52

• The Federal Reserve's Dual Mandate: A Time-Varying Monetary Policy Priority Index for the United States

  Staff Working Paper 2006-11 René Lalonde, Nicolas Parent

  In the United States, the Federal Reserve has a dual mandate of promoting stable inflation and maximum employment. Since the Fed directly controls only one instrument - the federal funds rate - the authors argue that the Fed's priorities continuously alternate between inflation and economic activity.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Monetary policy framework, Monetary policy implementation JEL Code(s): C, C2, C22, C5, C52, E, E5, E52
• March 30, 2006

  The Evolving International Monetary Order and the Need for an Evolving IMF

  Lecture David Dodge Woodrow Wilson School of Public and International Affairs Princeton, New Jersey

  The world needs an international institution to promote a new monetary order—a well-functioning, market-based global financial system. This will be the subject of my remarks today.

  Content Type(s): Press, Speeches and appearances, Lectures
• March 29, 2006

  Global Imbalances: Why Worry? What to Do?

  Remarks David Dodge New York Association for Business Economics New York, New York

  These imbalances reflect the financial flows associated with mismatches in savings and investment on a global scale. Since the late 1990s, many economies outside the United States have increased their net national savings.

  Content Type(s): Press, Speeches and appearances, Remarks
• March 29, 2006

  Governor Dodge Discusses How to Resolve Global Imbalances

  Media Relations New York, New York

  Large and persistent current account imbalances are a global problem and all countries must adopt policies that will allow market forces to resolve them, Bank of Canada Governor David Dodge said today.

  Content Type(s): Press, Press releases
• March 22, 2006

  Bank of Canada announces Deputy Governor assignment

  Media Relations Ottawa, Ontario

  On behalf of the Board of Directors of the Bank of Canada, Governor David Dodge today announced that Deputy Governor Sheryl Kennedy will be undertaking a short-term assignment as Senior Adviser to The Bank of Nova Scotia.

  Content Type(s): Press, Press releases
• March 10, 2006

  Bank of Canada Announces Research Fellowship for 2006

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that Professor Gregor Smith of Queen's University is the recipient of the Bank's Research Fellowship for 2006.

  Content Type(s): Press, Press releases Source(s): Fellowship Program
• March 9, 2006

  Temporary measures to reinforce the target for the overnight rate

  n the implementation of monetary policy, the Bank of Canada sets a target for the overnight interest rate. This rate is defined as the rate at which major participants in the money market borrow and lend one-day funds to each other.

  Content Type(s): Press, Market notices
• March 9, 2006

  Renewing the IMF: Some Lessons from Modern Central Banking

  Remarks Tiff Macklem Global Interdependence Center Philadelphia, Pennsylvania

  As economies have become more interconnected through trade and financial flows in a truly global marketplace, economic developments in one location can quickly have repercussions on the other side of the globe. In 1997, what began as a currency devaluation in Thailand became a crisis with repercussions not just in Asia, but in countries as far away as Russia, Brazil, and Canada.

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