Uncategorized

• March 7, 2006

  Bank of Canada raises overnight rate target by 1/4 percentage point to 3 3/4 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 3 3/4 per cent.

  Content Type(s): Press, Press releases

• Monetary Policy in an Estimated DSGE Model with a Financial Accelerator

  Staff Working Paper 2006-9 Ian Christensen, Ali Dib

  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.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Econometric and statistical methods, Economic models JEL Code(s): E, E3, E32, E37, E4, E44

• Ownership Concentration and Competition in Banking Markets

  Staff Working Paper 2006-7 Alexandra Lai, Raphael Solomon

  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).

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial services, Financial system regulation and policies JEL Code(s): G, G2, G21, G28, G3, G32, L, L1, L10

• Are Currency Crises Low-State Equilibria? An Empirical, Three-Interest-Rate Model

  Staff Working Paper 2006-5 Christopher Cornell, Raphael Solomon

  Suppose that the dynamics of the macroeconomy were given by (partly) random fluctuations between two equilibria: "good" and "bad."

  Content Type(s): Staff research, Staff working papers Topic(s): Monetary policy and uncertainty JEL Code(s): C, C6, C62, E, E5, E59, F, F4, F41

• Forecasting Canadian Time Series with the New Keynesian Model

  Staff Working Paper 2006-4 Ali Dib, Mohamed Gammoudi, Kevin Moran

  The authors document the out-of-sample forecasting accuracy of the New Keynesian model for Canada.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Econometric and statistical methods, Economic models JEL Code(s): C, C1, C12, E, E3, E32, E37
• March 1, 2006

  A Primer on Canada’s Large Value Transfer System

  Darcey McVanel, Neville Arjani

  This paper provides a comprehensive overview of Canada’s Large Value Transfer System (LVTS).

  Content Type(s): Background materials Topic(s): Payment clearing and settlement systems
• February 6, 2006

  Global Imbalances and the Canadian Economy

  Remarks David Dodge Barbados International Business Association Bridgetown, Barbados

  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.

  Content Type(s): Press, Speeches and appearances, Remarks
• February 1, 2006

  Inflation Targeting: Problems and Opportunities

  Proceedings of a Conference Co-sponsored by the New York Association for Business Economics and the Canadian Consulate General in New York, February 2006 (papers in unedited, electronic format only)

  Content Type(s): Conferences and workshops
• February 1, 2006

  Global Economic Trends: Implications for Canada

  Remarks Paul Jenkins Saint John Board of Trade Saint John, New Brunswick

  World economic growth has been remarkably strong over the past three years, averaging close to 4 1/4 per cent, and it is expected to stay around 4 per cent this year and next.

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

• The Institutional and Political Determinants of Fiscal Adjustment

  Staff Working Paper 2006-1 Robert Lavigne

  The author empirically assesses the effects of institutional and political factors on the need and willingness of governments to make large fiscal adjustments.

  Content Type(s): Staff research, Staff working papers Topic(s): Development economics, Econometric and statistical methods, Fiscal policy, International topics JEL Code(s): E, E6, E62, O, O1, O17, O19