April 24, 2002
Posts
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Aggregate and Welfare Effects of Redistribution of Wealth Under Inflation and Price-Level Targeting
Since the work of Doepke and Schneider (2006a) and Meh and Terajima (2008), we know that inflation causes major redistribution of wealth – between households and the government, between nationals and foreigners, and between households within the same country. -
May 6, 2005
The Canadian Economy: Adjusting to Global Economic Forces
The year 2005 marks the 150th anniversary of the establishment of Ottawa as a city. On 1 January 1855, the logging community of Bytown was formally incorporated as a city and adopted Ottawa as its new name. -
Volatility and Liquidity Costs
Observed high-frequency prices are contaminated with liquidity costs or market microstructure noise. Using such data, we derive a new asset return variance estimator inspired by the market microstructure literature to explicitly model the noise and remove it from observed returns before estimating their variance. -
September 30, 2022
Research Update - September 2022
This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. -
ToTEM II: An Updated Version of the Bank of Canada’s Quarterly Projection Model
This report provides a detailed technical description of an updated version of the Terms-of-Trade Economic Model (ToTEM II), which replaced ToTEM (Murchison and Rennison 2006) in June 2011 as the Bank of Canada’s quarterly projection model for Canada. -
Non-bank financial intermediation in Canada: a pulse check
The Canadian non-bank financial intermediation (NBFI) sector saw strong growth in 2018 and 2019. In 2020, COVID‑19 caused a financial shock. We provide a preliminary analysis on the impact of COVID‑19 on the sector as well as an update on its growth. -
March 27, 2020
Rules Governing Advances to Financial Institutions
These Rules serve as policy guidelines and administrative procedures for financial institutions and financial market infrastructures seeking to obtain loans (advances) from the Bank of Canada. -
Forecasting Commodity Prices: GARCH, Jumps, and Mean Reversion
Fluctuations in the prices of various natural resource products are of concern in both policy and business circles; hence, it is important to develop accurate price forecasts. -
May 20, 1997
Monetary Policy Report – May 1997
Since the last Report, the Canadian economy has advanced broadly in line with expectations.