Publications

• June 21, 2006

  Credibility with Flexibility: The Evolution of Inflation-Targeting Regimes, 1990–2006

  Bank of Canada Review - Summer 2006 Graydon Paulin

  Beginning with a review of the adoption of inflation targeting in a broad group of countries, Paulin focuses on changes in the design of inflation-targeting frameworks in light of fifteen years of accumulated experience. Included in the discussion are the use of numerical targets and ranges, the policy horizon, supporting institutional policy structures, and communication, including the publication of forecasts. A recurring theme is how much flexibility an inflation-targeting regime allows. The article concludes that the changes made to the frameworks have been relatively modest since their adoption, but in concert with the improved credibility that has resulted from central banks meeting their inflation-control targets, they have allowed an increasingly nuanced response to economic shocks.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Credibility, Inflation targets, Monetary policy framework
• June 21, 2006

  Bank of Canada Review - Summer 2006

  

  Cover page

  Irish Gun Money

  The coins pictured on the cover are part of the National Currency Collection of the Bank of Canada.
  Photography by Gord Carter

  Content Type(s): Publications, Bank of Canada Review
• June 21, 2006

  Financial System Review - June 2006

  

  The financial system makes an important contribution to the welfare of all Canadians. The ability of households and firms to confidently hold and transfer financial assets is one of the fundamental building blocks of the Canadian economy.

  Content Type(s): Publications, Financial Stability Report
• June 21, 2006

  Bank of Canada Oversight Activities during 2005 under the Payment Clearing and Settlement Act

  Financial System Review - June 2006 Clyde Goodlet

  Content Type(s): Publications, Financial System Review articles
• June 21, 2006

  The Market for Financing of Infrastructure Projects through Public-Private Partnerships: Canadian Developments

  Financial System Review - June 2006 Elizabeth Woodman

  Content Type(s): Publications, Financial System Review articles
• June 21, 2006

  Using the Contingent Claims Approach to Assess Credit Risk in the Canadian Business Sector

  Financial System Review - June 2006 Michal Kozak, Meyer Aaron, Céline Gauthier

  Content Type(s): Publications, Financial System Review articles
• June 21, 2006

  The Bank of Canada’s Role in the Oversight of Clearing and Settlement Systems

  Financial System Review - June 2006 Walter Engert, Dinah Maclean

  This article sets out the Bank’s mandate for regulatory oversight of clearing and settlement systems, the strategy that is followed, and the key activities relevant to the conduct of oversight.

  Content Type(s): Publications, Financial System Review articles
• June 21, 2006

  The Impact of Unanticipated Defaults in Canada’s Large Value Transfer System

  Financial System Review - June 2006 Darcey McVanel

  Content Type(s): Publications, Financial System Review articles
• June 21, 2006

  Ownership Concentration and Competition in Banking Markets

  Financial System Review - June 2006 Alexandra Lai, Raphael Solomon

  Content Type(s): Publications, Financial System Review articles
• June 21, 2006

  Using High-Frequency Data to Model Volatility Dynamics

  Financial System Review - June 2006 Gregory Bauer

  Content Type(s): Publications, Financial System Review articles