March 29, 2006
Uncategorized
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March 10, 2006
Bank of Canada Announces Research Fellowship for 2006
The Bank of Canada today announced that Professor Gregor Smith of Queen's University is the recipient of the Bank's Research Fellowship for 2006. -
March 9, 2006
Renewing the IMF: Some Lessons from Modern Central Banking
As economies have become more interconnected through trade and financial flows in a truly global marketplace, economic developments in one location can quickly have repercussions on the other side of the globe. In 1997, what began as a currency devaluation in Thailand became a crisis with repercussions not just in Asia, but in countries as far away as Russia, Brazil, and Canada. -
March 7, 2006
Bank of Canada raises overnight rate target by 1/4 percentage point to 3 3/4 per cent
The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 3 3/4 per cent. -
Monetary Policy in an Estimated DSGE Model with a Financial Accelerator
The authors estimate a sticky-price dynamic stochastic general-equilibrium model with a financial accelerator, à la Bernanke, Gertler, and Gilchrist (1999), to assess the importance of financial frictions in the amplification and propagation of the effects of transitory shocks. -
Ownership Concentration and Competition in Banking Markets
Many countries prohibit large shareholdings in their domestic banks.The authors examine whether such a restriction restrains competition in a duopolistic loan market. Blockholders may influence managers' output decisions by choosing capital structure, as in Brander and Lewis (1986). -
Are Currency Crises Low-State Equilibria? An Empirical, Three-Interest-Rate Model
Suppose that the dynamics of the macroeconomy were given by (partly) random fluctuations between two equilibria: "good" and "bad." -
Forecasting Canadian Time Series with the New Keynesian Model
The authors document the out-of-sample forecasting accuracy of the New Keynesian model for Canada. -
March 1, 2006
A Primer on Canada’s Large Value Transfer System
This paper provides a comprehensive overview of Canada’s Large Value Transfer System (LVTS). -
February 6, 2006
Global Imbalances and the Canadian Economy
Canada and Barbados may not have much in common in terms of climate, but we both have very open economies. So we both rely on good economic performance globally for good performance domestically.