Posts
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February 1, 2011
Canada's Competitive Imperative: Investing in Productivity Gains
Canada’s advantages were very apparent through the financial crisis. They sheltered us from the worst of the storm and put Canada at the front of the pack coming out of the recession. -
The Role of Time-Varying Price Elasticities in Accounting for Volatility Changes in the Crude Oil Market
There has been a systematic increase in the volatility of the real price of crude oil since 1986, followed by a decline in the volatility of oil production since the early 1990s. We explore reasons for this evolution. We show that a likely explanation of this empirical fact is that both the short-run price elasticities of oil demand and of oil supply have declined considerably since the second half of the 1980s. -
November 29, 2011
With a Little Help from Your Friends: The Virtues of Global Economic Coordination
Deputy Governor John Murray discusses the importance of global economic policy coordination in a speech at the State University of New York College in Plattsburgh, New York. -
September 30, 2017
Research Update - September 2017
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. -
How Long is Forever in the Laboratory? Three Implementations of an Infinite-Horizon Monetary Economy
Standard monetary models adopt an infinite horizon with discounting. Testing these models in the lab requires implementing this horizon within a limited time frame. We compare three approaches to such an implementation and discuss their relative advantages. -
The Expectations Hypothesis for the Longer End of the Term Structure: Some Evidence for Canada
This paper assesses the expectations theory for the longer end of the term structure of Canadian interest rates using three empirical approaches that have received attention in the literature: (i) cointegration tests of the long-run unbiasedness hypothesis; (ii) simulations of a theoretical long-term yield that is consistent with the expectations hypothesis, and (iii) ex post […] -
August 27, 2019
Quarterly Financial Report - Second Quarter 2019
Quarterly Financial Report - Second Quarter 2019 - For the period ended June 30, 2019
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January 20, 2016
Monetary Policy Report Press Conference Opening Statement
Governor Stephen S. Poloz discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR. -
Banking Regulation and Market Making
We model how securities dealers respond to regulations on leverage, position and liquidity such as those imposed by the Basel III framework. We show that while asset prices exhibit greater price impact, bid-ask spreads do not change and trading volumes may even increase.