September 22, 2009
Posts
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September 21, 2009
Results of the 21 September 2009 Term PRA Transaction
The results of today's term PRA operations are as follows. -
September 18, 2009
Bank of Canada Announces Details of its Term PRA for Private Sector Instruments Operation
In accordance with the schedule of term purchase and resale agreement (PRA) auctions for private sector instruments announced on 21 July (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation for private sector instruments as follows. -
September 18, 2009
Bank of Canada Announces Details of its Term Loan Facility Operation
In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 21 July (see schedule), the Bank of Canada announced today that it will conduct a TLF operation as follows. -
September 18, 2009
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 21 July (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation as follows. -
September 16, 2009
Results for the 16 September 2009 Term Loan Facility
The results of today's TLF operation are as follows. -
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Credit Constraints and Consumer Spending
This paper examines the relationship between aggregate consumer spending and credit availability in the United States. The author finds that consumer spending falls (rises) in response to a reduction (increase) in credit availability. -
Resurrecting the Role of Real Money Balance Effects
I present a structural econometric analysis supporting the hypothesis that money is still relevant for shaping inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively important, although smaller than they used to be in the early postwar period. -
September 15, 2009
Results of the 15 September 2009 Term PRA Transaction for Private Sector Instruments
Results of the 15 September 2009 Term PRA Transaction for Private Sector Instruments.