International topics

• Are Commodity Prices Useful Leading Indicators of Inflation?

  Staff Discussion Paper 2009-5 Calista Cheung

  Commodity prices have increased dramatically and persistently over the past several years, followed by a sharp reversal in recent months. These large and persistent movements in commodity prices raise questions about their implications for global inflation. The process of globalization has motivated much debate over whether global factors have become more important in driving the […]

  Content Type(s): Staff research, Staff discussion papers Topic(s): Business fluctuations and cycles, Economic models, Inflation and prices, International topics, Monetary policy transmission JEL Code(s): E, E3, E5, E52, E58

• Emerging Asia's Impact on Food and Oil Prices: A Model-Based Analysis

  Staff Discussion Paper 2009-3 René Lalonde, Philipp Maier, Dirk Muir

  The authors explore the usefulness of macroeconomic models in analyzing global economic developments by examining movements in commodity prices between July 2007 and July 2008. They use the Bank of Canada's version of the Global Economy Model and investigate the longer-term outlook for commodity prices by constructing two different, globally consistent, scenarios for emerging Asia.

  Content Type(s): Staff research, Staff discussion papers Topic(s): International topics, Recent economic and financial developments JEL Code(s): E, E3, E30, E5, E50, E58, E6, E60

• The Impact of Market Timing on Canadian and U.S. Firms' Capital Structure

  Staff Working Paper 2009-1 Zhaoxia Xu

  This paper studies the impact of market timing on Canadian firms' capital structure and makes a comparison with U.S. firms.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, International topics JEL Code(s): G, G3, G32