July 10, 2006
Posts
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Linear and Threshold Forecasts of Output and Inflation with Stock and Housing Prices
The authors examine whether simple measures of Canadian equity and housing price misalignments contain leading information about output growth and inflation. -
Are Average Growth Rate and Volatility Related?
The empirical relationship between the average growth rate and the volatility of growth rates, both over time and across countries, has important policy implications, which depend critically on the sign of the relationship. -
Convergence in a Stochastic Dynamic Heckscher-Ohlin Model
The authors characterize the equilibrium for a small economy in a dynamic Heckscher-Ohlin model with uncertainty. -
June 30, 2006
Business Outlook Survey - Summer 2006
The results of this Business Outlook Survey are broadly in line with those of the previous one. -
June 29, 2006
What Monetary Policy Can and Cannot Do
As Canada's central bank, we are committed to conduct monetary policy in a way that fosters confidence in the value of money. This is our primary responsibility. But the Bank has a number of other functions that are very important to economic life in Canada. We promote the safety and soundness of the financial system. -
June 28, 2006
Bank of Canada Announces Appointment of Special Adviser
The Bank of Canada today announced the appointment of Professor Steve Ambler to the position of Special Adviser for the year 2006-07. -
June 21, 2006
Global Economic Forces and the Need for Adjustment
Since the start of the millennium, developments in the global economy have led to important changes throughout the Canadian economy and to serious challenges for many sectors and regions. Because nobody can anticipate precisely how the world will unfold, the best we can do is to ensure that our economy is as flexible as possible. -
June 21, 2006
Governor Dodge Says Canadian Businesses Are Making Needed Adjustments
Powerful developments and trends in the global economy mean that Canadian businesses need to make adjustments, Bank of Canada Governor David Dodge said today. -
June 21, 2006
Credibility with Flexibility: The Evolution of Inflation-Targeting Regimes, 1990–2006
Beginning with a review of the adoption of inflation targeting in a broad group of countries, Paulin focuses on changes in the design of inflation-targeting frameworks in light of fifteen years of accumulated experience. Included in the discussion are the use of numerical targets and ranges, the policy horizon, supporting institutional policy structures, and communication, including the publication of forecasts. A recurring theme is how much flexibility an inflation-targeting regime allows. The article concludes that the changes made to the frameworks have been relatively modest since their adoption, but in concert with the improved credibility that has resulted from central banks meeting their inflation-control targets, they have allowed an increasingly nuanced response to economic shocks.