August 19, 2010
Publications
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August 19, 2010
Price-Level Targeting and Relative-Price Shocks
Stephen Murchison reviews the findings of recent Bank of Canada research on the relative merits of inflation targeting and price-level targeting (PLT) for a small open economy, such as Canada's, that is susceptible to large and persistent terms-of-trade shocks. -
August 19, 2010
Should Monetary Policy Be Used to Counteract Financial Imbalances?
The authors examine whether monetary policy should and could do more to lean against financial imbalances (such as those associated with asset-price bubbles or unsustainable credit expansion) as they are building up, or whether its role should be limited to cleaning up the economic consequences as the imbalances unwind. -
August 19, 2010
Conference Summary: New Frontiers in Monetary Policy Design
Although the current inflation-targeting regime has served Canadians well, sound public policy demands the continuous exploration of possible improvements in the monetary policy framework. -
August 19, 2010
Bank of Canada Review - Summer 2010
Examination of how, when the policy interest rate is at or near zero, different monetary policy frameworks might help to lower the risk and economic cost of such a scenario; review of the findings of recent Bank of Canada research on the relative merits of inflation targeting and price-level targeting (PLT) for a small open economy; examination of monetary policy being used to counteract financial imbalances; conference summary: new frontiers in monetary policy design. -
July 28, 2010
Due Diligence: A Report on the Bank of Canada's Handling of Foreign Gold during World War II
Report commissioned by the Bank, written by Professor Duncan McDowall of Carleton University and released in November 1997. The Bank also released a search aid for related files in its archives and for Department of Finance documents. -
July 27, 2010
Planning an Evolution: The Story of the Canadian Payments Association, 1980-2002
by James F. Dingle. Outlines the history of the Association and its role in moving Canada's payments system from paper to electronic media. -
July 22, 2010
Monetary Policy Report – July 2010
The global economic recovery is proceeding but is not yet self-sustaining. Greater emphasis on balance sheet repair by households, banks, and governments in a number of advanced economies is expected to temper the pace of global growth relative to the Bank’s outlook in April. -
July 21, 2010
Why Monetary Policy Matters: A Canadian Perspective
This paper provides a non-technical introduction to monetary policy - what it is, how it works, and why it matters. It discusses inflation volatility and why this is damaging to the economy, as well as why increased stability of output growth is desirable. -
July 19, 2010
Economic Research at the Bank of Canada, 1935-65
A retrospective of economic research at the Bank of Canada from 1935 to 1965.