Posts

• January 5, 2009

  Bank of Canada Announces Details of its 28 Day Term PRA Transaction

  n accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 1 December, the Bank of Canada announced today that it will enter into a 28-day term PRA transaction

  Content Type(s): Press, Market notices
• January 5, 2009

  Results of the 5 January 2009 Term PRA Transaction for Private Sector Money Market Instruments

  The results of today's term PRA operations.

  Content Type(s): Press, Market notices
• January 5, 2009

  Results for the 5 January 2009 Term Loan Facility

  The results of today's TLF operation.

  Content Type(s): Press, Market notices
• January 5, 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 14-day Term PRA Facility for Private Sector Money Market Instruments is 2.06%.

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

  Bank of Canada Announces Details of its Term PRA Facility for Private Sector Money Market Instruments

  In accordance with the schedule of term purchase and resale agreement (PRA) auctions for private sector money market instruments announced on 28 November, the Bank of Canada announced today that it will enter into a 14-day term PRA transaction for private sector money market instruments

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

  Bank of Canada Announces Details of its 28 Day Term Loan Facility

  In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 28 November, the Bank of Canada announced today that it will enter into a 28-day TLF transaction

  Content Type(s): Press, Market notices

• Inventories, Markups, and Real Rigidities in Menu Cost Models

  Staff Working Paper 2009-6 Oleksiy Kryvtsov, Virgiliu Midrigan

  Real rigidities that limit the responsiveness of real marginal cost to output are a key ingredient of sticky price models necessary to account for the dynamics of output and inflation. We argue here, in the spirit of Bils and Kahn (2000), that the behavior of marginal cost over the cycle is directly related to that of inventories, data on which is readily available.

  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

• Comparison of Auction Formats in Canadian Government Auctions

  Staff Working Paper 2009-5 Olivier Armantier, Nourredine Lafhel

  Using a rich sample of Canadian government securities auctions, we estimate the structural parameters of a share-auction model accounting for asymmetries across bidders. We find little evidence of asymmetries between participants at Canadian government nominal bond auctions.

  Content Type(s): Staff research, Staff working papers Topic(s): Debt management, Financial markets, Market structure and pricing JEL Code(s): D, D4, D44, D6, D63, G, G2, G28

• What Accounts for the U.S.-Canada Education-Premium Difference?

  Staff Working Paper 2009-4 Oleksiy Kryvtsov, Alexander Ueberfeldt

  This paper analyzes the differences in wage ratios of university graduates to less than university graduates, the education premium, in Canada and the United States from 1980 to 2000. Both countries experienced a similar increase in the fraction of university graduates and a similar increase in skill biased technological change based on capital-embodied technological progress, but only the United States had a large increase in the education premium.

  Content Type(s): Staff research, Staff working papers Topic(s): Labour markets, Productivity JEL Code(s): E, E2, E24, E25, J, J2, J24, J3, J31

• Uninsurable Investment Risks and Capital Income Taxation

  Staff Working Paper 2009-3 Césaire Meh, Yaz Terajima

  This paper studies the capital accumulation and welfare implications of reducing capital income taxation in a general equilibrium economy with uninsurable investment risks.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models JEL Code(s): E, E2, E21, E22, E6, E62, G, G3, G32, H, H2, H24, H25