Posts

• December 15, 2009

  Changes to the Terms of the Bank of Canada's Term Purchase and Resale Agreement (PRA) Facility

  Given improved conditions in Canadian funding markets, the Bank of Canada is announcing that effective 19 January 2010 the following changes will apply to the Term PRA facility.

  Content Type(s): Press, Market notices

• Estimating DSGE-Model-Consistent Trends for Use in Forecasting

  Staff Working Paper 2009-35 Jean-Philippe Cayen, Marc-André Gosselin, Sharon Kozicki

  The workhorse DSGE model used for monetary policy evaluation is designed to capture business cycle fluctuations in an optimization-based format. It is commonplace to log-linearize models and express them with variables in deviation-from-steady-state format.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Econometric and statistical methods JEL Code(s): C, C3, C32, E, E3, E5, E52

• A Consistent Test for Multivariate Conditional Distributions

  Staff Working Paper 2009-34 Fuchun Li, Greg Tkacz

  We propose a new test for a multivariate parametric conditional distribution of a vector of variables y_t given a conditional vector x_t.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods JEL Code(s): C, C1, C12, C2, C22

• How Changes in Oil Prices Affect the Macroeconomy

  Staff Working Paper 2009-33 Brian DePratto, Carlos De Resende, Philipp Maier

  We estimate a New Keynesian general-equilibrium open economy model to examine how changes in oil prices affect the macroeconomy. Our model allows oil price changes to be transmitted through temporary demand and supply channels (affecting the output gap), as well as through persistent supply side effects (affecting trend growth).

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Interest rates, Monetary policy transmission, Potential output, Productivity JEL Code(s): F, F4, F41, Q, Q4, Q43
• December 15, 2009

  Bank of Canada welcomes initiative to improve infrastructure for Canadian-dollar core funding markets

  Media Relations Ottawa, Ontario

  Policies and initiatives that help keep core markets functioning continuously, including in times of stress, promote the overall safety and soundness of our financial system.

  Content Type(s): Press, Press releases
• December 14, 2009

  Liquidity Standards in a Macroprudential Context

  Financial System Review - December 2009 Carol Ann Northcott, Mark Zelmer

  Content Type(s): Publications, Financial System Review articles
• December 14, 2009

  Reform of Securitization

  Financial System Review - December 2009 Jack Selody, Elizabeth Woodman

  Content Type(s): Publications, Financial System Review articles
• December 14, 2009

  Towards a Stress-Testing Model Consistent with the Macroprudential Approach

  Financial System Review - December 2009 Céline Gauthier, Alfred Lehar, Moez Souissi

  Content Type(s): Publications, Financial System Review articles
• December 14, 2009

  Financial System Review - December 2009

  

  Conditions in the international financial system have improved considerably since June in response to the forceful actions taken by policy-makers around the world.

  FSR Highlights - December 2009

  Content Type(s): Publications, Financial Stability Report
• December 8, 2009

  Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent.

  Content Type(s): Press, Press releases