July 17, 2003
Posts
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July 17, 2003
Release of the Monetary Policy Report Update
Today, we released our Update to the April Monetary Policy Report. The Update reviews economic and financial trends in the context of Canada's inflation-control strategy. -
July 15, 2003
Bank of Canada lowers target for the overnight rate by 1/4 percentage point to 3 per cent
The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 3 per cent. -
July 10, 2003
Dynamic Models Useful for Policy
2003 Conference held on 10 and 11 July 2003 (papers in unedited, electronic format only) -
Dynamic Factor Analysis for Measuring Money
Technological innovations in the financial industry pose major problems for the measurement of monetary aggregates. The authors describe work on a new measure of money that has a more satisfactory means of identifying and removing the effects of financial innovations. -
The U.S. Stock Market and Fundamentals: A Historical Decomposition
The authors identify the fundamentals behind the dynamics of the U.S. stock market over the past 30 years. They specify a structural vector-error-correction model following the methodology of King, Plosser, Stock, and Watson (1991). -
A Small Dynamic Hybrid Model for the Euro Area
The authors estimate and solve a small structural model for the euro area over the 1983–2000 period. Given the assumption of rational expectations, the model implies a set of orthogonality conditions that provide the basis for estimating the model's parameter by generalized method of moments. -
Technological Change and the Education Premium in Canada: Sectoral Evidence
It has been well documented that the education premium measured by the wage difference between university and high school graduates has remained constant over the past two decades in Canada. Despite this stable pattern at the aggregate level, skill-biased technology could have important implications for the inter-industry wage structure. -
June 23, 2003
Financial System Review - June 2003
This section of the Financial System Review examines the recent performance of the Canadian financial system and the factors, both domestic and international, that are influencing it. -