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Agency Costs, Risk Shocks and International Cycles
We add agency costs as in Carlstrom and Fuerst (1997) into a two-country, two-good international business-cycle model. In our model, changes in the relative price of investment arise endogenously. -
Reconciling the Differences in Aggregate U.S. Wage Series
Average hourly real wage series from the Labor Productivity and Costs (LPC) program and the Current Employment Statistics (CES) program have evolved very differently over the past decades. -
January 21, 2016
Results of the 27-day and 84-day 21 January 2016 Term Repo Operation
Results of today's term repo operation. -
January 21, 2016
Bank of Canada Announces the Minimum Bid Rate for Today's Term Repo Operation
Bank of Canada Announces the Minimum Bid Rate for Today's Term Repo Operation. -
January 20, 2016
Bank of Canada Announces Details of its Term Repo Operations
The Bank of Canada announced today that it will conduct term repo operations. -
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. -
January 20, 2016
Bank of Canada maintains overnight rate target at 1/2 per cent
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.