Uncategorized

• The Usefulness of Consumer Confidence Indexes in the United States

  Staff Working Paper 2002-22 Brigitte Desroches, Marc-André Gosselin

  This paper assesses the usefulness of consumer confidence indexes in forecasting aggregate consumer spending in the United States.

  Content Type(s): Staff research, Staff working papers Topic(s): Domestic demand and components, Economic models, International topics JEL Code(s): D, D1, D12, E, E2, E21, E27

• Entrepreneurial Risk, Credit Constraints, and the Corporate Income Tax: A Quantitative Exploration

  Staff Working Paper 2002-21 Césaire Meh

  This paper describes the positive effect that corporate income tax has on capital formation in the presence of liquidity constraints and uninsurable risk.

  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

• The Financial Services Sector: An Update on Recent Developments

  Technical Report No. 91 Charles Freedman, Clyde Goodlet

  The Canadian financial industry continues to experience significant changes. This report provides an update on recent developments and re-examines a number of issues facing financial service providers that were identified in Technical Report No. 82.

  Content Type(s): Staff research, Technical reports Topic(s): Financial institutions, Financial services JEL Code(s): G, G2

• Dollarization in Canada: The Buck Stops There

  Technical Report No. 90 John Murray, James Powell

  The sharp depreciation of the Canadian dollar and the successful launch of the euro have spawned an animated debate in Canada concerning the potential benefits of formally adopting the U.S. dollar as our national currency.

  Content Type(s): Staff research, Technical reports Topic(s): Exchange rate regimes JEL Code(s): E, E3, E32, F, F3, F33, F36
• July 24, 2002

  Release of the Monetary Policy Report Update

  Opening statement David Dodge

  Today, we published our Update to the April 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
• July 24, 2002

  Monetary Policy Report Update – July 2002

  t the time of the April Monetary Policy Report, it was evident that a robust economic recovery was underway in Canada.

  Content Type(s): Publications, Monetary Policy Report
• July 16, 2002

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

  Content Type(s): Press, Press releases

• Estimates of the Sticky-Information Phillips Curve for the United States, Canada, and the United Kingdom

  Staff Working Paper 2002-19 Hashmat Khan, Zhenhua Zhu

  Mankiw and Reis (2001a) have proposed a "sticky-information"-based Phillips curve (SIPC) to address some of the concerns with the "sticky-price"-based new Keynesian Phillips curve.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Inflation and prices JEL Code(s): E, E3, E31
• June 11, 2002

  Trust, Transparency, and Financial Markets

  Remarks David Dodge Greater Halifax Partnership Halifax, Nova Scotia

  But first, I would like to address an important subject; that is, how to promote the efficient operation of Canada's financial markets. Rather than approaching this topic in a detailed, technical way, I want to speak about two qualities that are essential to their efficient operation: trust and transparency.

  Content Type(s): Press, Speeches and appearances, Remarks
• June 10, 2002

  Summer Consultations - Market Views Sought on Issues Relating to the Design and Operation of Government Debt Programs over 2002/03 and Beyond

  A consultation document on issues relating to the design and operation of the government debt programs for fiscal year 2002/03 and beyond, prepared jointly by the Department of Finance and the Bank of Canada as its fiscal agent, is being made public today.

  Content Type(s): Press, Market notices