Posts
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Employment Effects Of Nominal-Wage Rigidity: An Examination Using Wage-Settlements Data
The argument advocating a moderate level of inflation based on the downward nominal-wage rigidity (DNWR) hypothesis rests on three factors: its presence, extent, and negative impact in the labour market. This paper focuses on the employment effect of DNWR. -
Price Stickiness, Inflation, and Output Dynamics: A Cross-Country Analysis
The sticky-price model of aggregate fluctuations implies that countries with high trend inflation rates should exhibit less-persistent output fluctuations than countries with low trend inflation. -
June 15, 2000
The Canadian Economy: Finding the Right Balance
With the technological revolution that is currently sweeping the globe, dealing with change is a growing challenge for businesses these days. This revolution is erasing national frontiers, intensifying competition, and transforming economies everywhere. -
June 15, 2000
Bank of Canada Governor speaks to the Kelowna Chamber of Commerce
"Low and stable inflation is good for business, good for the consumer, and good for the economy as a whole," Bank of Canada Governor Gordon Thiessen told the Kelowna Chamber of Commerce today in a luncheon speech that focused on the contribution that monetary policy makes towards an environment that supports economic activity. Mr. Thiessen […] -
June 15, 2000
Response to IDA Reconstitution Proposal
The strip bond sub-committee of the Investment Dealers Association (IDA), in a letter dated June 23, 1999, has recommended that “the current ceiling on reconstitution of bonds should be removed to allow reconstitution beyond the quantity stripped by book entry, which at times may be beyond the original issue size”. -
Fractional Cointegration and the Demand for M1
Using wavelets, the author estimates the fractional order of integration of a common long-run money-demand relationship whose parameters are obtained from a full-information maximum-likelihood procedure. -
Identifying Policy-makers' Objectives: An Application to the Bank of Canada
In this paper, we develop a new way to test hypotheses about policy-makers' targets, and we implement that test for Canadian monetary policy. -
June 1, 2000
Price Stability and the Long-Run Target for Monetary Policy
Proceedings of a seminar held by the Bank of Canada, June 2000 (proceedings volume, available in electronic format only) -
June 1, 2000
Bank of Canada Announces Appointment of Special Adviser
Professor Angela Redish of the University of British Columbia has been chosen to fill the visiting economist position of Special Adviser in the Bank of Canada for a one-year term beginning in August 2000.