Uncategorized

• Uncertainty and the Specificity of Human Capital

  Staff Working Paper 2007-57 Martin Gervais, Igor Livshits, Césaire Meh

  This paper studies the choice between general and specific human capital. A trade-off arises because general human capital, while less productive, can easily be reallocated across firms.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models JEL Code(s): D, D9, D92, J, J2, J24, J4, J41, J6, J62

• Estimation and Inference by the Method of Projection Minimum Distance

  Staff Working Paper 2007-56 Òscar Jordà, Sharon Kozicki

  A covariance-stationary vector of variables has a Wold representation whose coefficients can be semi-parametrically estimated by local projections (Jordà, 2005). Substituting the Wold representations for variables in model expressions generates restrictions that can be used by the method of minimum distance to estimate model parameters.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods JEL Code(s): C, C3, C32, C5, C53, E, E4, E47
• November 20, 2007

  Managing Risks to Financial System Stability

  Remarks Pierre Duguay CFA Québec Québec, Québec

  The recent dislocations in credit markets have brought these issues into sharp focus. Among other things, the market turbulence has highlighted the critical role that confidence and liquidity play in financial markets.

  Content Type(s): Press, Speeches and appearances, Remarks
• November 15, 2007

  Debt Strategy Consultations 2008/09 Views Sought on Issues Relating to the Government's Domestic Debt Program for 2008/09 and Beyond

  A consultation document on issues relating to the design and operation of the government's domestic debt program for the fiscal year 2008/09 and beyond, prepared jointly by the Department of Finance and the Bank of Canada, is being made public today.

  Content Type(s): Press, Market notices
• November 14, 2007

  Canada & Ontario in the Global Economy: Challenges in a Changing World

  Presentation Paul Jenkins Ontario Economic Summit

  Content Type(s): Press, Speeches and appearances, Presentations
• November 7, 2007

  Developing a Framework to Assess Financial Stability

  Conference held on 7 and 8 November 2007 (papers in unedited, electronic format only)

  Content Type(s): Conferences and workshops
• November 6, 2007

  North America in Today's Global Economic Setting

  Remarks Paul Jenkins Canadian Association of New York New York, New York

  In recent months, much has been said, and written, about developments in financial markets. The turbulence in global credit markets, which had its roots in developments in the market for subprime mortgages here in the United States, has been a focal point of attention for market participants and policy-makers around the world.

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

• Testing Uncovered Interest Parity: A Continuous-Time Approach

  Staff Working Paper 2007-53 Antonio Diez de los Rios, Enrique Sentana

  Nowadays researchers can choose the sampling frequency of exchange rates and interest rates.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Exchange rates JEL Code(s): F, F3, F31, G, G1, G15
• October 25, 2007

  Forecasting Short-Term Economic Developments and the Role of Econometric Models

  Conference held on 25 and 26 October 2007 (papers in unedited, electronic format only)

  Content Type(s): Conferences and workshops
• October 21, 2007

  Credit Market Turbulence and Policy Challenges Ahead

  Remarks David Dodge Institute of International Finance Washington, D.C.

  Given the Institute's membership and its focus on financial stability, I feel safe in saying that all of us here today watched this summer's turbulence in credit markets with interest, to put it mildly. What began in the spring as a repricing of credit risk turned into dislocations that have yet to fully run their course.

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