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December 21, 2008
Financial System Review - December 2008
The turmoil in global financial markets entered a new phase in September, moving to a more acute and broad-based loss of confidence in the context of a series of failures and near-failures of large financial institutions in the United States and Europe. -
December 19, 2008
Bank of Canada Announces Details of its 30 Day Term Loan Facility
In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 28 November, the Bank of Canada announced today that it will enter into a 30-day TLF transaction as follows: -
Futures Markets, Oil Prices and the Intertemporal Approach to the Current Account
The intertemporal approach to the current account suggests modeling movements in the current account in a forward-looking, dynamic framework. In this framework, the current account reflects consumption smoothing of agents that lend and borrow from the rest of the world in the face of transitory shocks to income. -
December 17, 2008
From Hindsight to Foresight
It has been a difficult year for capital markets professionals. The turmoil has deteriorated into a full-blown financial crisis. Most financial markets have experienced historic falls in prices, and some are strained to the point of closing.