Posts

• May 4, 2007

  Governor Dodge discusses how flexible exchange rates aid economic adjustments

  Media Relations Montréal, Quebec

  A flexible exchange rate regime can help an economy adjust to shocks, and can be an important part of a market-based, liberalized trade and financial order, said Bank of Canada Governor David Dodge.

  Content Type(s): Press, Press releases

• Domestic versus External Borrowing and Fiscal Policy in Emerging Markets

  Staff Working Paper 2007-33 Garima Vasishtha

  Domestic public debt issued by emerging markets has risen significantly relative to international debt in recent years. Some recent empirical evidence also suggests that sovereigns have defaulted differentially on debt held by domestic and external creditors.

  Content Type(s): Staff research, Staff working papers Topic(s): Debt management, International topics JEL Code(s): F, F3, F30, H, H2, H21, H6, H63

• Computing Optimal Policy in a Timeless-Perspective: An Application to a Small-Open Economy

  Staff Working Paper 2007-32 Michel Juillard, Florian Pelgrin

  Since the contribution of Kydland and Prescott (1977), it is well known that the optimal Ramsey policy is time inconsistent. In a series of recent contributions, Woodford (2003) proposes a new methodology to circumvent this problem, namely the timeless perspective solution.

  Content Type(s): Staff research, Staff working papers Topic(s): Monetary policy framework JEL Code(s): C, C6, E, E5, E6
• May 2, 2007

  Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce

  Opening statement David Dodge Standing Senate Committee on Banking, Trade and Commerce

  In our latest Monetary Policy Report, which we released last Thursday, we noted that Canada's economic growth did indeed slow, but recently, inflation has been higher than expected. After considering the full range of indicators, the Bank now judges that the Canadian economy was operating just above its production capacity in the first quarter of this year.

  Content Type(s): Press, Speeches and appearances, Opening statements

• Micro Foundations of Price-Setting Behaviour: Evidence from Canadian Firms

  Staff Working Paper 2007-31 Daniel de Munnik, Kuan Xu

  How do firms adjust prices in the marketplace? Do they tend to adjust prices infrequently in response to changes in market conditions? If so, why? These remain key questions in macroeconomics, particularly for central banks that work to keep inflation low and stable.

  Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices, Monetary policy transmission JEL Code(s): D, D4, D40, E, E3, E30, L, L1, L11
• May 1, 2007

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening statement David Dodge House of Commons Standing Committee on Finance

  In our latest Monetary Policy Report, which we released last Thursday, we noted that Canada's economic growth did indeed slow, but recently, inflation has been higher than expected. After considering the full range of indicators, the Bank now judges that the Canadian economy was operating just above its production capacity in the first quarter of this year.

  Content Type(s): Press, Speeches and appearances, Opening statements
• April 26, 2007

  Monetary Policy Report – April 2007

  

  Growth in the Canadian economy has been essentially in line with the expectations set out in the Bank’s January Monetary Policy Report Update.

  Content Type(s): Publications, Monetary Policy Report
• April 26, 2007

  Release of the Monetary Policy Report

  Opening statement David Dodge

  Growth of the Canadian economy has been essentially in line with the Bank's expectations as set out in the January Monetary Policy Report Update. But inflation has been higher than expected. After considering the full range of indicators, the Bank now judges that the Canadian economy was operating just above its production capacity in the first quarter of this year.

  Content Type(s): Press, Speeches and appearances, Opening statements
• April 26, 2007

  Bank of Canada releases Monetary Policy Report

  Media Relations Ottawa, Ontario

  The Bank of Canada today released its April Monetary Policy Report, which discusses current economic and financial trends in the context of Canada's inflation-control strategy.

  Content Type(s): Press, Press releases
• April 25, 2007

  Bank of Canada Governor David Dodge will not seek second term

  Media Relations Ottawa, Ontario

  Governor David Dodge has informed the Bank of Canada's Board of Directors and the Minister of Finance that he will not seek a second term as Governor.

  Content Type(s): Press, Press releases