Posts
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The Financial Services Sector: Past Changes and Future Prospects
The financial services industry has been undergoing significant change in recent years. This paper analyzes some key developments affecting the industry and examines some important issues facing the industry and its regulators. -
The Canadian Banking System
This paper examines the major changes in the Canadian banking system since the Second World War, with special attention paid to the differences between Canadian and U.S. developments over this period. -
February 24, 1998
Inflation-Control Targets Extended
The Bank of Canada today released a joint statement of the Government of Canada and the Bank of Canada on the extension of the inflation-control targets. -
International Borrowing, Specialization and Unemployment in a Small, Open Economy
Empirical evidence suggests that the unemployment rate and the export/GNP ratio are positively correlated with external debt across developing countries. This paper develops a dynamic model that provides an explanation for the aforementioned relationships. The central idea of our paper is that international borrowing affects unemployment and specialization patterns by unevenly changing the risk-sharing structure—across […] -
February 5, 1998
International developments and the prospects for the Canadian economy
A year ago, in early 1997, prospects for global economic growth were very promising. World economic activity had strengthened and was expected to accelerate further, with the benefit of low inflation, reduced fiscal imbalances, and stable or declining interest rates. In Canada too, output and employment growth had picked up. -
January 30, 1998
Bank Rate Raised to 5 Per Cent
The Bank of Canada today raised its Bank Rate by ½ of one percentage point to 5 per cent. -
January 29, 1998
Annual Report 1997
With inflation remaining low for the sixth consecutive year, the Canadian economy recorded a strong expansion of about 4 per cent through 1997. -
January 14, 1998
Bank of Canada Review - Winter 1997-1998
Cover page
Mafeking siege note
This ten-shilling note measures 6 1/4 by 5 3/4 inches and forms part of the National Currency Collection, Bank of Canada.
Photography by James Zagon.
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Food Aid Delivery, Food Security and Aggregate Welfare in a Small Open Economy: Theory and Evidence
A small-open-economy model is developed to examine how the method of food aid disbursement affects labor employment, food security and aggregate welfare, in recipient countries, in an environment in which private sector firms pay efficiency wages to induce effort. Two forms of food aid delivery are considered: first is project food aid, under which food […]