Uncategorized

• 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
• June 15, 2000

  The Canadian Economy: Finding the Right Balance

  Remarks Gordon Thiessen Kelowna Chamber of Commerce Kelowna, British Columbia

  With the technological revolution that is currently sweeping the globe, dealing with change is a growing challenge for businesses these days. This revolution is erasing national frontiers, intensifying competition, and transforming economies everywhere.

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

• Fractional Cointegration and the Demand for M1

  Staff Working Paper 2000-13 Greg Tkacz

  Using wavelets, the author estimates the fractional order of integration of a common long-run money-demand relationship whose parameters are obtained from a full-information maximum-likelihood procedure.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Monetary aggregates JEL Code(s): C, C1, C13, E, E4, E41

• Identifying Policy-makers' Objectives: An Application to the Bank of Canada

  Staff Working Paper 2000-11 Nicholas Rowe, James Yetman

  In this paper, we develop a new way to test hypotheses about policy-makers' targets, and we implement that test for Canadian monetary policy.

  Content Type(s): Staff research, Staff working papers Topic(s): Inflation targets JEL Code(s): E, E5, E52, E6, E61
• June 1, 2000

  Price Stability and the Long-Run Target for Monetary Policy

  Proceedings of a seminar held by the Bank of Canada, June 2000 (proceedings volume, available in electronic format only)

  Content Type(s): Conferences and workshops
• May 17, 2000

  Bank of Canada Raises Target Overnight Rate by ½ Percentage Point to 5¾ Per Cent

  Media Relations Ottawa, Ontario

  The Bank of Canada raised its target for the overnight rate by one-half of one percentage point to 5¾ per cent. The operating band for the overnight rate was correspondingly increased, and the Bank Rate is now 6 per cent.

  Content Type(s): Press, Press releases
• May 16, 2000

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening statement Gordon Thiessen House of Commons Standing Committee on Finance

  Last week, we released our eleventh Monetary Policy Report. Since our November Report, the Canadian economy has outperformed expectations. Bolstered by vigorous external and domestic demand, Canada's economic expansion strengthened in the second half of 1999 and into early 2000.

  Content Type(s): Press, Speeches and appearances, Opening statements
• May 11, 2000

  Monetary Policy Report – May 2000

  The global economy has shown greater strength than was anticipated at the time of the November Report.

  Content Type(s): Publications, Monetary Policy Report
• May 11, 2000

  Release of the Monetary Policy Report

  Opening statement Gordon Thiessen

  This morning we released our latest Monetary Policy Report. The outlook that we see for Canadian economic growth and inflation is very positive. The economy has outperformed expectations since our November Report and the underlying trend of inflation has been lower than expected. With the global economy gaining momentum and greater demand at home, we […]

  Content Type(s): Press, Speeches and appearances, Opening statements