Posts

• March 24, 2010

  Two Imperatives to Secure Strong, Sustainable, and Balanced Economic Growth, Governor Mark Carney Says

  Media Relations Ottawa, Ontario

  While Canada is a country of immense strengths and considerable resilience, its economy is underperforming relative to its potential, Bank of Canada Governor Mark Carney said today in a speech to the Ottawa Economics Association.

  Content Type(s): Press, Press releases

• On the Advantages of Disaggregated Data: Insights from Forecasting the U.S. Economy in a Data-Rich Environment

  Staff Working Paper 2010-10 Nikita Perevalov, Philipp Maier

  The good forecasting performance of factor models has been well documented in the literature. While many studies focus on a very limited set of variables (typically GDP and inflation), this study evaluates forecasting performance at disaggregated levels to examine the source of the improved forecasting accuracy, relative to a simple autoregressive model. We use the latest revision of over 100 U.S. time series over the period 1974-2009 (monthly and quarterly data).

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, International topics JEL Code(s): C, C5, C50, C53, E, E3, E37, E4, E47

• Alternative Optimized Monetary Policy Rules in Multi-Sector Small Open Economies: The Role of Real Rigidities

  Staff Working Paper 2010-9 Carlos De Resende, Ali Dib, Maral Kichian

  Inflation-targeting central banks around the world often state their inflation objectives with regard to the consumer price index (CPI). Yet the literature on optimal monetary policy based on models with nominal rigidities and more than one sector suggests that CPI inflation is not always the best choice from a social welfare perspective.

  Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices, Inflation targets, Inflation: costs and benefits, Monetary policy framework, Monetary policy implementation JEL Code(s): E, E4, E5, E52, F, F3, F4

• Market Expectations and Option Prices: Evidence for the Can$/US$ Exchange Rate

  Staff Discussion Paper 2010-2 Alejandro García, Andrei Prokopiw

  Security prices contain valuable information that can be used to make a wide variety of economic decisions. To extract this information, a model is required that relates market prices to the desired information, and that ideally can be implemented using timely and low-cost methods.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Econometric and statistical methods, Exchange rates, Financial markets JEL Code(s): C, C0, C00, C02, G, G1, G13
• March 15, 2010

  Results of the 15 March 2010 Term PRA Transaction

  The results of today's term PRA operations.

  Content Type(s): Press, Market notices
• March 15, 2010

  Bank of Canada Announces Recipients of 2010 Fellowship and Governor's Awards

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that Professor Paul Beaudry of the University of British Columbia is the recipient of the Bank's Research Fellowship for 2010.

  Content Type(s): Press, Press releases Source(s): Fellowship Program
• March 12, 2010

  Bank of Canada Announces Details of its Term PRA Operation

  In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 19 January (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation.

  Content Type(s): Press, Market notices
• March 11, 2010

  Bank of Canada: 75 Years Today

  Media Relations Ottawa, Ontario

  The Bank of Canada today is celebrating the 75th anniversary of the opening of its doors for business and to mark the occasion, Governor Mark Carney met with economics students from across Canada.

  Content Type(s): Press, Press releases
• March 11, 2010

  Principles for Interesting Times

  Remarks Mark Carney Carleton University Ottawa, Ontario

  I would like to thank students from universities across Canada for joining me on this special day, the 75th anniversary of the Bank of Canada

  Content Type(s): Press, Speeches and appearances, Remarks
• March 10, 2010

  Bank of Canada announces Deputy Governor Appointment

  Media Relations Ottawa, Ontario

  Board of Directors of the Bank of Canada today announced the appointment of Jean Boivin as Deputy Governor and member of the Governing Council of the Bank effective 1 April.

  Content Type(s): Press, Press releases