Uncategorized

• October 23, 2002

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening statement David Dodge House of Commons Standing Committee on Finance

  The Canadian economy has been expanding strongly so far this year and is now operating fairly close to its full production capacity. Consumer price inflation has risen above the 2 per cent target and is expected to rise further before year-end because of high oil prices and a number of other relative price movements.

  Content Type(s): Press, Speeches and appearances, Opening statements
• October 23, 2002

  Release of the Monetary Policy Report

  Opening statement David Dodge

  Today, we released our October Monetary Policy Report, in which we discuss economic and financial trends in the context of Canada's inflation-control strategy.

  Content Type(s): Press, Speeches and appearances, Opening statements
• October 17, 2002

  The Search for Higher Productivity

  Remarks David Dodge Chambre de commerce de Québec Québec, Québec

  Given the extent of uncertainty in the world today, we are all naturally preoccupied with near-term issues and prospects. That's understandable. But, at the same time, it's critical that we look past the short-term to the longer-term trends and potential of our economy.

  Content Type(s): Press, Speeches and appearances, Remarks
• October 16, 2002

  Bank of Canada keeps target for the overnight rate at 2 3/4 per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is maintaining its target for the overnight rate at 2 3/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 3 per cent.

  Content Type(s): Press, Press releases
• October 5, 2002

  Dollarization and North American Integration

  Remarks David Dodge Chambre de commerce du Québec Sherbrooke, Quebec

  The question before us sounds straightforward: "Should Canada adopt the U.S. dollar?" But the issues are complicated. I will not pretend that I can cover all the nuances of this topic in my allotted time. So I am running the risk that I may oversimplify matters.

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

• Inflation Expectations and Learning about Monetary Policy

  Staff Working Paper 2002-30 David Andolfatto, Scott Hendry, Kevin Moran

  Various measures indicate that inflation expectations evolve sluggishly relative to actual inflation. In addition, they often fail conventional tests of unbiasedness.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Economic models JEL Code(s): E, E4, E47, E5, E52, E58

• Habit Formation and the Persistence of Monetary Shocks

  Staff Working Paper 2002-27 Hafedh Bouakez, Emanuela Cardia, Francisco Ruge-Murcia

  This paper studies the persistent effects of monetary shocks on output. Previous empirical literature documents this persistence, but standard general-equilibrium models with sticky prices fail to generate output responses beyond the duration of nominal contracts.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Monetary policy transmission JEL Code(s): E, E3, E4, E5
• September 20, 2002

  The Bank of Canada Securities-Lending Program

  On 23 April 2002, the Bank of Canada announced its intention to implement a securities-lending program to support the liquidity of Government of Canada securities by providing a secondary and temporary source of securities to the market. The Bank intends to implement this program on 30 September 2002.

  Content Type(s): Press, Market notices
• September 18, 2002

  Canada's Economic Performance After an Eventful Year

  Remarks David Dodge University of British Columbia Vancouver, British Columbia

  Indeed, a strong research environment has long been a hallmark of the Bank. We also want to encourage research relevant to our business, especially with respect to monetary policy and financial system stability, at universities all across Canada.

  Content Type(s): Press, Speeches and appearances, Remarks
• September 18, 2002

  Bank of Canada Announces Economic Research Fellowship Program

  Media Relations Vancouver, British Columbia

  The Bank of Canada is launching a Fellowship Program to encourage economic research at Canadian universities, Governor David Dodge announced today during a speech at the University of British Columbia. The Governor said the program is a natural extension of the Bank of Canada's commitment to promoting high-quality research.

  Content Type(s): Press, Press releases Source(s): Fellowship Program