April 12, 2010
Posts
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April 9, 2010
Bank of Canada Announces Details of its Term PRA Operation
In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 19 January (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation. -
April 9, 2010
Spring 2010 Debt Management Strategy Consultations - Views Sought on Issues Relating to the Government's Domestic Debt Program
The Department of Finance and the Bank of Canada are seeking the views of government securities distributors, institutional investors, and other interested parties on issues relating to the management of the cash flow profile of Government of Canada securities over the medium term, and demand for long term bonds (nominal and Real Return). -
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March 31, 2010
The Bank of Canada Releases Its Annual Report for 2009
The Bank of Canada's Annual Report for 2009 was tabled in the House of Commons today. -
March 29, 2010
Beyond Recovery: Sustaining Economic Growth
John Maynard Keynes said the objective of "analysis is … to provide ourselves with an organized and orderly method of thinking out particular problems .… This is the nature of economic thinking." -
March 24, 2010
The Virtue of Productivity in a Wicked World
It is either brave or foolhardy of the Ottawa Economics Association to organize another conference around Canada's perennial challenges of demographics, productivity, and potential growth. -
March 24, 2010
Two Imperatives to Secure Strong, Sustainable, and Balanced Economic Growth, Governor Mark Carney Says
While Canada is a country of immense strengths and considerable resilience, its economy is underperforming relative to its potential, Bank of Canada Governor Mark Carney said today in a speech to the Ottawa Economics Association. -
On the Advantages of Disaggregated Data: Insights from Forecasting the U.S. Economy in a Data-Rich Environment
The good forecasting performance of factor models has been well documented in the literature. While many studies focus on a very limited set of variables (typically GDP and inflation), this study evaluates forecasting performance at disaggregated levels to examine the source of the improved forecasting accuracy, relative to a simple autoregressive model. We use the latest revision of over 100 U.S. time series over the period 1974-2009 (monthly and quarterly data). -
Alternative Optimized Monetary Policy Rules in Multi-Sector Small Open Economies: The Role of Real Rigidities
Inflation-targeting central banks around the world often state their inflation objectives with regard to the consumer price index (CPI). Yet the literature on optimal monetary policy based on models with nominal rigidities and more than one sector suggests that CPI inflation is not always the best choice from a social welfare perspective.