Uncategorized

• June 4, 2002

  Bank of Canada raises overnight rate target by 1/4 percentage point to 2 1/2 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 2 1/2 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 2 3/4 per cent.

  Content Type(s): Press, Press releases

• Does Exchange Rate Policy Matter for Growth?

  Staff Working Paper 2002-17 Jeannine Bailliu, Robert Lafrance, Jean-François Perrault

  Previous studies on whether the nature of the exchange rate regime influences a country's medium-term growth performance have been based on a tripartite classification scheme that distinguishes between pegged, intermediate, and flexible exchange rate regimes.

  Content Type(s): Staff research, Staff working papers Topic(s): Exchange rate regimes, Exchange rates, Monetary policy framework JEL Code(s): F, F3, F31, F33, F4, F43, O, O4, O40
• May 24, 2002

  Convocation address

  Remarks David Dodge Graduating class of the Faculty of Engineering Queen's University Kingston, Ontario

  Queen's motto is Sapientia et Doctrina Stabilitas, which we generally translate as "Wisdom and knowledge shall be the strength of thy times." This motto is especially pertinent to you as engineers graduating today.

  Content Type(s): Press, Speeches and appearances, Remarks
• May 14, 2002

  International Financial Architecture and the Resolution of Financial Crises

  Remarks David Dodge Canadian Club of Ottawa and the Canadian Institute of International Affairs Ottawa, Ontario

  The preamble to the Bank of Canada Act calls on us to promote the economic and financial welfare of Canada. In this context, we aim to foster good economic performance through monetary stability - that is to say, through low, stable, and predictable inflation. But no market economy can function properly unless it is also supported by an efficient and stable financial system.

  Content Type(s): Press, Speeches and appearances, Remarks
• May 14, 2002

  Bank of Canada Governor Reviews Progress in Strengthening International Financial Architecture and Resolving Financial Crises

  Media Relations Ottawa, Ontario

  Mr. Dodge stressed that in an interconnected world, Canada's open economy is very much affected by world events - hence, our strong interest in a healthy international financial environment.

  Content Type(s): Press, Press releases
• May 9, 2002

  Canadian Consul General's residence

  Remarks David Dodge Luncheon at the Canadian Consul General's residence Chicago, Illinois

  In Canada, the economic weakness that we experienced was really concentrated in the third quarter of last year, particularly in September. The terrorist attacks in September created a great deal of uncertainty, and so the Bank of Canada, like the U.S. Federal Reserve, provided an extraordinary amount of stimulus by aggressively lowering interest rates.

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

• Entrepreneurship, Inequality, and Taxation

  Staff Working Paper 2002-14 Césaire Meh

  This paper confirms the conjecture that the evaluation of tax policy leads to very different conclusions once the role of entrepreneurs is considered. Contrary to previous literature, the author finds that switching from a progressive to a proportional income tax system has a negligible effect on wealth inequality in the United States.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Fiscal policy JEL Code(s): D, D3, D31, E, E6, E62, H, H2, H20, H23
• April 30, 2002

  Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce

  Opening statement David Dodge Standing Senate Committee on Banking, Trade and Commerce

  To counter that uncertainty and bolster consumer and business confidence, the Bank of Canada moved aggressively to provide monetary stimulus. Between last September and January 2002, we lowered interest rates by 200 basis points, bringing the total reduction since January 2001 to 375 basis points.

  Content Type(s): Press, Speeches and appearances, Opening statements
• April 26, 2002

  The Interaction Between Monetary and Fiscal Policies

  Lecture David Dodge School of Policy Studies Queen's University Kingston, Ontario

  Donald Gow had a great interest in public administration and in budgetary reform in the federal government.1 He was one in a long line of Queen's professors who have focused on various budgetary matters at the federal level.

  Content Type(s): Press, Speeches and appearances, Lectures
• April 24, 2002

  Monetary Policy Report – April 2002

  At the time of last November’s Monetary Policy Report, two issues dominated the analysis: the global economic slowdown and the fallout from the September terrorist attacks.

  Content Type(s): Publications, Monetary Policy Report