Staff research, Publications
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October 24, 2012
Monetary Policy Report – October 2012
The Bank projects that the economy will grow by 2.2 per cent in 2012, 2.3 per cent in 2013 and 2.4 per cent in 2014. The economy is expected to return to full capacity by the end of 2013. -
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October 15, 2012
Business Outlook Survey - Autumn 2012
The results of the autumn survey suggest that, in an environment of slow global economic growth and uncertainty about demand, firms have tem¬pered their expectations for business activity. -
October 15, 2012
Senior Loan Officer Survey - Third-Quarter 2012
The survey results point to a continued easing in overall business-lending conditions during the third quarter of 2012. -
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The Economic Value of Realized Volatility: Using High-Frequency Returns for Option Valuation
Many studies have documented that daily realized volatility estimates based on intraday returns provide volatility forecasts that are superior to forecasts constructed from daily returns only. We investigate whether these forecasting improvements translate into economic value added. -
Financial Conditions and the Money-Output Relationship in Canada
We propose a drifting-coefficient model to empirically study the effect of money on output growth in Canada and to examine the role of prevailing financial conditions for that relationship. We show that such a time-varying approach can be a useful way of modelling the impact of money on growth, and can partly reconcile the lack of concensus in the literature on the question of whether money affects growth.