October 5, 2002
Posts
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Inflation Expectations and Learning about Monetary Policy
Various measures indicate that inflation expectations evolve sluggishly relative to actual inflation. In addition, they often fail conventional tests of unbiasedness. -
Exponentials, Polynomials, and Fourier Series: More Yield Curve Modelling at the Bank of Canada
This paper continues the work started by Bolder and Stréliski (1999) and considers two alternative classes of models for extracting zero-coupon and forward rates from a set of observed Government of Canada bond and treasury-bill prices. -
Filtering for Current Analysis
This paper shows how existing band-pass filtering techniques and their extension can be applied to the common current-analysis problem of estimating current trends or cycles. -
Habit Formation and the Persistence of Monetary Shocks
This paper studies the persistent effects of monetary shocks on output. Previous empirical literature documents this persistence, but standard general-equilibrium models with sticky prices fail to generate output responses beyond the duration of nominal contracts. -
September 20, 2002
The Bank of Canada Securities-Lending Program
On 23 April 2002, the Bank of Canada announced its intention to implement a securities-lending program to support the liquidity of Government of Canada securities by providing a secondary and temporary source of securities to the market. The Bank intends to implement this program on 30 September 2002. -
September 18, 2002
Canada's Economic Performance After an Eventful Year
Indeed, a strong research environment has long been a hallmark of the Bank. We also want to encourage research relevant to our business, especially with respect to monetary policy and financial system stability, at universities all across Canada. -
September 18, 2002
Governor Credits Sound Economic Framework for Canada's Strong Performance
Canada's economy has shown remarkable strength over the past two years, despite a number of unfavourable developments that originated mainly from abroad, Bank of Canada Governor David Dodge said today in a speech at the University of British Columbia. The adoption of inflation targets, the restoration of fiscal health, and the restructuring initiatives taken by businesses were all positive steps taken in the 1990s that have allowed the economy to better handle economic problems now, he said. -
September 18, 2002
Bank of Canada Announces Economic Research Fellowship Program
The Bank of Canada is launching a Fellowship Program to encourage economic research at Canadian universities, Governor David Dodge announced today during a speech at the University of British Columbia. The Governor said the program is a natural extension of the Bank of Canada's commitment to promoting high-quality research. -
September 4, 2002
The New Investment Framework for Receiver General Cash Balances
The Department of Finance and the Bank of Canada are releasing final terms and conditions for participating in morning auctions of Receiver General balances. These auctions are the primary means by which the government invests its short-term Canadian-dollar cash balances.