January 30, 2004
Staff research, Publications
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January 23, 2004
Bank of Canada Review - Winter 2003-2004
Cover page
Brass Cash Register, 1910
The register is part of the National Currency Collection, Bank of Canada.
Photographed by Gord Carter, Ottawa.
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January 22, 2004
Monetary Policy Report Update – January 2004
Since the October Monetary Policy Report, three developments have led the Bank of Canada to modify its outlook for economic growth and inflation in Canada. -
Exact Tests of Equal Forecast Accuracy with an Application to the Term Structure of Interest Rates
The author proposes a class of exact tests of the null hypothesis of exchangeable forecast errors and, hence, of the hypothesis of no difference in the unconditional accuracy of two competing forecasts. -
The Effect of Adjustment Costs and Organizational Change on Productivity in Canada: Evidence from Aggregate Data
A basic neoclassical model of production is often used to assess the contribution of investment to output growth. In the model, investment raises the capital stock and output growth increases in proportion to the growth in capital.