E - Macroeconomics and Monetary Economics
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The Exchange Rate and Canadian Inflation Targeting
The author provides a non-technical explanation of the role played by the exchange rate in Canada's inflation-targeting monetary policy. -
Does Financial Structure Matter for the Information Content of Financial Indicators?
Of particular concern to monetary policy-makers is the considerable unreliability of financial variables for predicting GDP growth and inflation. -
Forecasting Canadian GDP: Region-Specific versus Countrywide Information
The authors investigate whether the aggregation of region-specific forecasts improves upon the direct forecasting of Canadian GDP growth. -
Intertemporal Substitution in Macroeconomics: Evidence from a Two-Dimensional Labour Supply Model with Money
The hypothesis of intertemporal substitution in labour supply has a history of empirical failure when confronted with aggregate time-series data. -
Inflation and Relative Price Dispersion in Canada: An Empirical Assessment
The authors investigate empirically the relationship between different aspects of inflation and relative price dispersion in Canada using a Markov regime-switching Phillips curve. -
Inflation Dynamics and the New Keynesian Phillips Curve: An Identification-Robust Econometric Analysis
The authors use identification-robust methods to assess the empirical adequacy of a New Keynesian Phillips curve (NKPC) equation. -
Uninsured Idiosyncratic Production Risk with Borrowing Constraints
The author analyzes a general-equilibrium model of a heterogeneous agents economy in which the agents are subject to borrowing constraints and uninsurable idiosyncratic production risk. -
The Impact of Unanticipated Defaults in Canada's Large Value Transfer System
Canada's Large Value Transfer System (LVTS) is designed to meet international risk-proofing standards at a minimum cost to participants in terms of collateral requirements. -
The Effectiveness of Official Foreign Exchange Intervention in a Small Open Economy: The Case of the Canadian Dollar
The Bank of Canada is one of very few central banks that has made records of the intraday timing of its intervention operations available to researchers.