Staff research

• An Up-to-Date and Improved BVAR Model of the Canadian Economy

  Staff Working Paper 1994-4 Daniel Racette, Jacques Raynauld, Christian Sigouin

  In this paper, we estimate a fully optimized BVAR model of the Canadian economy for the period 1971-87. The model is well-adapted to the features of a small open economy. We show how it can be used as an input in the monetary policy process either as a forecasting instrument or an analytical tool.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models

• The Term Structure and Real Activity in Canada

  Staff Working Paper 1994-3 Barry Cozier, Greg Tkacz

  This paper examines the predictive content of the term structure of interest rates for economic activity in Canada. Recent papers for the United States and other countries find that the slope of the term structure is a very good predictor of output growth.

  Content Type(s): Staff research, Staff working papers Topic(s): Interest rates, Monetary and financial indicators

• The Microstructure of Financial Derivatives Markets: Exchange-Traded versus Over-the-Counter

  Technical Report No. 68 Brenda González-Hermosillo

  In this report the author focusses on the microstructure of derivatives markets. While the primary objective is to examine derivatives markets in Canada, the author also discusses certain developments in global derivatives markets that are bound to influence the functioning and development of financial markets in a small, open economy such as Canada's. It is […]

  Content Type(s): Staff research, Technical reports Topic(s): Financial markets JEL Code(s): G, G1, G10