Posts

• May 30, 2006

  Opening Statement before the House of Commons Standing Committee on Industry, Science and Technology

  Opening statement David Dodge House of Commons Standing Committee on Industry, Science and Technology

  The Bank of Canada Act calls on us to "mitigate … fluctuations in the general level of production, trade, prices and employment, so far as may be possible within the scope of monetary action, and generally to promote the economic and financial welfare of Canada." Over time, it has become clear that the best way for us to fulfill this mandate is to keep inflation low, stable, and predictable.

  Content Type(s): Press, Speeches and appearances, Opening statements
• May 24, 2006

  Bank of Canada raises overnight rate target by 1/4 percentage point to 4 1/4 per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 4 1/4 per cent.

  Content Type(s): Press, Press releases
• May 5, 2006

  The Crucial Contribution of the Financial System and Monetary Policy to Economic Development

  Remarks David Longworth Conference of the Association des économistes québécois Montréal, Quebec

  Many analysts have examined the relationship between the financial system and economic development. They have uncovered some interesting facts regarding the characteristics of the financial system - characteristics that contribute to the best possible allocation of savings to productive investments, which are themselves engines of economic growth.

  Content Type(s): Press, Speeches and appearances, Remarks

• Institutional Quality, Trade, and the Changing Distribution of World Income

  Staff Working Paper 2006-19 Brigitte Desroches, Michael Francis

  Conventional wisdom holds that institutional changes and trade liberalization are two main sources of growth in per capita income around the world.

  Content Type(s): Staff research, Staff working papers Topic(s): Development economics, International topics JEL Code(s): F, F1, F11, F15, O, O1, O11, P, P4, P48

• Working Time over the 20th Century

  Staff Working Paper 2006-18 Alexander Ueberfeldt

  From 1870 to 2000, the workweek length of employed persons decreased by 41 per cent in industrialized countries.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Labour markets, Productivity JEL Code(s): E, E1, E13, E2, E24, O, O1, O11
• May 3, 2006

  Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce

  Opening statement David Dodge Standing Senate Committee on Banking, Trade and Commerce

  Total and core inflation were projected to average close to 2 per cent, beginning in the second half of this year. This projection assumed oil prices at roughly US$64 per barrel, a level then indicated by futures prices. Our projection also assumed stable commodity prices, government spending that was growing roughly in line with revenues, and a Canadian dollar continuing to trade in a range of 85 to 87 cents U.S.

  Content Type(s): Press, Speeches and appearances, Opening statements

• Risk-Cost Frontier and Collateral Valuation in Securities Settlement Systems for Extreme Market Events

  Staff Working Paper 2006-17 Alejandro García, Ramazan Gençay

  The authors examine how the use of extreme value theory yields collateral requirements that are robust to extreme fluctuations in the market price of the asset used as collateral.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Financial stability, Payment clearing and settlement systems JEL Code(s): C, C1, G, G0, G1

• Benchmark Index of Risk Appetite

  Staff Working Paper 2006-16 Miroslav Misina

  Changes in investors' risk appetite have been used to explain a variety of phenomena in asset markets.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Financial markets JEL Code(s): G, G1, G12
• May 1, 2006

  Fixed Income Markets

  Proceedings of a conference held by the Bank of Canada, May 2006 (papers in unedited, electronic format only)

  Content Type(s): Conferences and workshops

• LVTS, the Overnight Market, and Monetary Policy

  Staff Working Paper 2006-15 Nadja Kamhi

  Operational events in the Large Value Transfer System (LVTS) almost always result in a disturbance of the regular flow of payments.

  Content Type(s): Staff research, Staff working papers Topic(s): Monetary policy implementation, Payment clearing and settlement systems JEL Code(s): E, E5