Posts

• February 2, 2009

  Bank of Canada Announces Details of its 35 Day Term PRA Transaction

  In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 20 January, the Bank of Canada announced today that it will enter into a 35-day term PRA transaction.

  Content Type(s): Press, Market notices

• Inventories and Real Rigidities in New Keynesian Business Cycle Models

  Staff Working Paper 2009-9 Oleksiy Kryvtsov, Virgiliu Midrigan

  Kryvtsov and Midrigan (2008) study the behavior of inventories in an economy with menu costs, fixed ordering costs and the possibility of stock-outs. This paper extends their analysis to a richer setting that is capable of more closely accounting for the dynamics of the US business cycle.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Monetary policy transmission JEL Code(s): E, E3, E31, F, F1, F12

• Optimal Policy under Commitment and Price Level Stationarity

  Staff Working Paper 2009-8 Gino Cateau

  This paper proposes a simple analytical method to determine the stationarity of an unnormalized variable from the solution to a normalized model i.e. a model whose variables must be expressed in relative terms or must be differenced for a solution to exist.

  Content Type(s): Staff research, Staff working papers Topic(s): Monetary policy framework JEL Code(s): E, E5, E52, E58

• Assessing Indexation-Based Calvo Inflation Models

  Staff Working Paper 2009-7 Jean-Marie Dufour, Lynda Khalaf, Maral Kichian

  Using identification-robust methods, the authors estimate and evaluate for Canada and the United States various classes of inflation equations based on generalized structural Calvo-type models. The models allow for different forms of frictions and vary in their assumptions regarding the type of price indexation adopted by firms.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Inflation and prices JEL Code(s): C, C1, C13, C5, C52, E, E3, E31
• February 2, 2009

  Results of the 2 February 2009 Term PRA Transaction for Private Sector Money Market Instruments

  The results of today's term PRA operations.

  Content Type(s): Press, Market notices
• February 2, 2009

  Results for the 2 February 2009 Term Loan Facility

  Results of today's TLF operation.

  Content Type(s): Press, Market notices
• February 2, 2009

  Bank of Canada Announces the Minimum Bid Rate for Today's Term PRA Facility for Private Sector Money Market Instruments

  The minimum bid rate for today's 15-day Term PRA Facility for Private Sector Money Market Instruments is 1.740%.

  Content Type(s): Press, Market notices