Posts

• October 10, 2007

  The Canadian Journey: An Odyssey into the Complex World of Bank Note Production

  Bank of Canada Review - Autumn 2007 Jill Moxley, Helen Meubus, Maura Brown

  For many years, the Bank of Canada successfully responded to occasional eruptions in counterfeiting by improving the security features on bank notes. The surge in counterfeiting that occurred while the Bank prepared to launch the Canadian Journey series, however, reflected increasingly rapid advances in computer technology that were changing the counterfeiting environment. The article describes these and other challenges that affected the new series and describes how the Bank developed a comprehensive new approach to its currency program and incorporated the valuable lessons it learned from these challenges. Designed to combat counterfeiting and meet the needs of the public, the new strategy includes increased research and development on new bank note security features, an intensified focus on retailer and public education, and a focus on law enforcement.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Bank notes, Central bank research
• October 5, 2007

  Business Outlook Survey - Autumn 2007

  Overall, businesses continue to be positive about the economic outlook, notwithstanding lower expectations for U.S. economic growth and recent financial market turbulence.

  Content Type(s): Publications, Business Outlook Survey
• October 4, 2007

  Mark Carney Appointed Governor of the Bank of Canada

  Media Relations Ottawa, Ontario

  The Directors of the Bank of Canada appointed under Section 9 of the Bank of Canada Act today announced that they have appointed Mark Carney as Governor of the Bank of Canada for a seven-year term, effective 1 February 2008.

  Content Type(s): Press, Press releases

• Rediscounting Under Aggregate Risk with Moral Hazard

  Staff Working Paper 2007-51 James Chapman, Antoine Martin

  Freeman (1999) proposes a model in which discount window lending and open market operations have different effects. This is important because in most of the literature, these policies are indistinguishable.

  Content Type(s): Staff research, Staff working papers Topic(s): Central bank research, Financial markets, Payment clearing and settlement systems JEL Code(s): E, E5, E58, G, G2, G20
• October 3, 2007

  Liquidity, Liquidity, Liquidity

  Remarks David Longworth Investment Industry Association of Canada Toronto, Ontario

  Sound financial investment is important to individuals, to firms, and to society as a whole. By definition, investment is forward looking, and thus our future financial well-being is shaped by the soundness of the investment decisions we make today.

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

• Do Firms Adjust Toward a Target Leverage Level?

  Staff Working Paper 2007-50 Zhaoxia Xu

  This paper studies capital structure adjustment mechanisms of firms that experience substantial changes in leverage.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, International topics JEL Code(s): G, G3, G32

• Examining Simple Joint Macroeconomic and Term-Structure Models: A Practitioner's Perspective

  Staff Working Paper 2007-49 David Bolder, Shudan Liu

  The primary objective of this paper is to compare a variety of joint models of the term structure of interest rates and the macroeconomy.

  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
• September 25, 2007

  Governor Dodge Discusses Recent Market Turbulence: Causes, Effects, and Lessons

  Media Relations Vancouver, British Columbia

  anadian money markets are functioning better after being affected by this summer's turbulence, but they are not yet back to normal, Bank of Canada Governor David Dodge said today in a speech to the Vancouver Board of Trade.

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

  Survey of Foreign Exchange and Derivatives Market Activity in Canada During April 2007

  Media Relations Ottawa, Ontario

  During the month of April, the Bank of Canada and 53 other central banks and monetary authorities conducted a survey of turnover activity in the foreign exchange and over-the-counter (OTC) derivatives markets in their respective countries.

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

  Turbulence in Credit Markets: Causes, Effects, and Lessons To Be Learned

  Remarks David Dodge Vancouver Board of Trade Vancouver, British Columbia

  The turbulence in financial markets did not come about against a backdrop of economic weakness. Indeed, over the past number of years, the global economy has shown remarkable strength. We were also seeing encouraging signs of growth being spread more evenly.

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