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• Inflation and the Tax System in Canada: An Exploratory Partial-Equilibrium Analysis

  Staff Working Paper 2000-18 Brian O'Reilly, Mylène Levac

  This paper reports on an exploratory application to Canadian data of an approach pioneered by Martin Feldstein (1997, 1999). Feldstein finds that even at low inflation rates there are costs arising from the distortions introduced by the interaction of inflation with the taxation of income from capital (capital gains, dividends, and interest) in a less-than-perfectly-indexed tax system.

  Content Type(s): Staff research, Staff working papers Topic(s): Inflation: costs and benefits JEL Code(s): E, E5, E6
• August 16, 2000

  Monetary Policy Report Update – August 2000

  Information received since the last Monetary Policy Report continues to show solid economic growth in the United States, Europe, and the emerging markets.

  Content Type(s): Publications, Monetary Policy Report
• August 16, 2000

  Release of the Monetary Policy Report Update

  Opening statement Gordon Thiessen

  This morning we released our update to the May Monetary Policy Report. Overall, the outlook for Canadian economic growth and inflation is positive. Economic activity in Canada has remained strong since our May Report. Nonetheless, the underlying trend of inflation has been unexpectedly low - in the bottom half of our 1 to 3 per […]

  Content Type(s): Press, Speeches and appearances, Opening statements
• August 14, 2000

  Follow up on proposed modifications to Government of Canada Bond operations

  On July 21, 2000, the Bank of Canada announced that the Bank and the Department of Finance would be seeking the views of market participants on the feasibility of implementing a cash management buyback program and on the possibility of reverting back to March and September maturity dates for two-year bonds.

  Content Type(s): Press, Market notices
• July 21, 2000

  Market views sought on proposed modifications to Government of Canada Bond operations

  The Debt Management Strategy 2000-01 (released 23 March 2000) noted that the Bank of Canada and the Department of Finance were assessing the potential for expanding the existing bond buyback program to include cash management purposes.

  Content Type(s): Press, Market notices
• July 18, 2000

  Proposed revisions to the rules pertaining to auctions of Receiver General term deposits (discussion paper)

  Comments: On 18 July 2000, the government and Bank of Canada made public a discussion paper concerning the management of the federal government's cash balances. The paper outlined the current framework and proposed changes, intended to increase competition and to strengthen the management of risks, in particular the credit risks involved in the investment of […]
• July 18, 2000

  Proposed revisions to the rules pertaining to auctions of Receiver General term deposits

  A discussion paper prepared jointly by the Department of Finance and the Bank of Canada, and being made public today, is proposing changes to the government’s approach to auctioning and investing its Canadian dollar cash balances.

  Content Type(s): Press, Market notices

• Private Capital Flows, Financial Development, and Economic Growth in Developing Countries

  Staff Working Paper 2000-15 Jeannine Bailliu

  An important issue in the debate over the desirability of freer capital mobility for developing countries is whether capital flows have significant effects on economic growth. Proponents of capital account liberalization cite the growth-promoting attributes of capital inflows as a key benefit of financial integration for developing countries.

  Content Type(s): Staff research, Staff working papers Topic(s): International topics JEL Code(s): F, F2, F21, F4, F43, O, O5, O50

• Employment Effects Of Nominal-Wage Rigidity: An Examination Using Wage-Settlements Data

  Staff Working Paper 2000-14 Umar Faruqui

  The argument advocating a moderate level of inflation based on the downward nominal-wage rigidity (DNWR) hypothesis rests on three factors: its presence, extent, and negative impact in the labour market. This paper focuses on the employment effect of DNWR.

  Content Type(s): Staff research, Staff working papers Topic(s): Labour markets JEL Code(s): C, C2, C23, J, J2, J23, J3, J30

• Price Stickiness, Inflation, and Output Dynamics: A Cross-Country Analysis

  Staff Working Paper 2000-12 Hashmat Khan

  The sticky-price model of aggregate fluctuations implies that countries with high trend inflation rates should exhibit less-persistent output fluctuations than countries with low trend inflation.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles JEL Code(s): E, E3, E31, E32