Posts
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An Analysis of Closure Policy under Alternative Regulatory Structures
The author develops a theoretical model of bank closure. The regulatory decision about bank failure consists of two parts: whether to close and how to close. -
Educational Spillovers: Does One Size Fit All?
In a search model of production, where agents accumulate heterogeneous amounts of human capital, an individual worker's wage depends on average human capital in the searching population. -
State Dependence in Fundamentals and Preferences Explains Risk-Aversion Puzzle
The authors examine the ability of economic models with regime shifts to rationalize and explain the risk-aversion and pricing-kernel puzzles put forward in Jackwerth (2000). -
March 30, 2005
Canada's Competitiveness: The Importance of Investing in Skills
Productivity plays a critical role when it comes to our national standard of living. Productivity growth is the main element that contributes to continued improvements in real incomes and overall prosperity. Rising productivity lets businesses pay higher wages, while keeping costs down, employment high, and profits coming in. That's why economists like me spend a lot of time thinking about ways to improve the productivity of our economy. -
March 28, 2005
The Thiessen Lectures
Lectures delivered by Gordon G. Thiessen, Governor of the Bank of Canada 1994 to 2001 -
March 21, 2005
Debt Strategy Consultations 2005/06 and the Review of the Debt Distribution Framework - Summary of Comments
In October and November 2004, officials from the Department of Finance and the Bank of Canada consulted with interested parties on issues related to the government's domestic debt program, and the review of the government's debt distribution framework. -
March 21, 2005
Governor Dodge Discusses Canada's Experience with Inflation Targeting
Bank of Canada Governor David Dodge said today that Canada's experience under inflation targeting has been "unambiguously positive" since the central bank and federal government agreed to adopt this monetary policy framework in 1991. -
March 21, 2005
Inflation Targeting: A Canadian Perspective
The invitation is timely, given that the Bank of Canada's inflation-targeting agreement with the Canadian government is up for renewal next year. At the Bank, we are always reflecting on our framework, deciding what works well and what we can improve. Against that backdrop, we have watched with interest the debate taking place here in the United States - inside and outside the Federal Reserve - about whether that institution should join the ranks of inflation-targeting central banks. -
March 21, 2005
Summary of Comments—Debt Distribution Framework Consultations
In the autumn of 2004, officials at the Department of Finance and the Bank of Canada launched a review of the debt distribution framework to assess the framework's effectiveness in ensuring that the government has continued access to stable, low-cost funding sources over a medium-term horizon and that the Government of Canada securities market continues to function well.