October 16, 1998
Posts
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October 15, 1998
The Canadian Experience with Targets for Inflation Control
As an economist who worked as a banker for most of his career, Douglas Gibson brought an interesting perspective to public policy issues, to the relationship between government and business, and to the contribution of outside economists to government policies. -
Can a Matching Model Explain the Long-Run Increase in Canada's Unemployment Rate?
The authors construct a simple general equilibrium model of unemployment and calibrate it to the Canadian economy. Job creation and destruction are endogenous. In this model, they consider several potential factors that could contribute to the long-run increase in the Canadian unempoloyment rate: a more generous unemployment insurance system, higher layoff costs, higher discretionary taxes, […] -
The Sale of Durable Goods by a Monopolist in a Stochastic Environment
This paper examines the sale of durable goods by a monopolist in a stochastic partil equilibrium setting. It analyzes the responses of prices and output to various types of shocks and notes the differences with non-durable goods and competitive markets. It shows that behavior in this model with constant marginal costs of production is in […] -
September 29, 1998
Survey of Foreign Exchange and Derivatives Market Activity in Canada
Summary results of a survey of Canadian foreign exchange and derivatives markets are now available. The survey was conducted by the Bank of Canada in April 1998 and covered activity in the foreign exchange and derivatives markets. Similar surveys were undertaken by about 40 other countries during the same month, and the central banks of many of those countries are also releasing their results today. -
September 29, 1998
Bank Rate Lowered by ¼ Percentage Point to 5¾ Per Cent
The Bank of Canada today lowered its Bank Rate by ¼ of one percentage point to 5¾ per cent. -
September 28, 1998
Changes to Government of Canada auction process to take effect 14 October 1998
On behalf of the Minister of Finance, the Bank of Canada announced today that "Revised rules pertaining to auctions of Government of Canada securities and the Bank of Canada's surveillance of the auction process," released 11 August 1998, will take effect on 14 October 1998. -
September 23, 1998
Global uncertainties and the Canadian economy
This past year, we have had to deal with the implications for our economy and our currency of increased global uncertainty and pressures arising from the problems that originated in Southeast Asia. I am sure that the effects of these developments, especially on primary commodities, such as oil and nickel, are already very familiar to Newfoundlanders. -
September 23, 1998
Bank of Canada Governor Addresses St. John's Board of Trade
Bank of Canada Governor Gordon Thiessen today reviewed international economic and financial developments and their implications for Canada. -
La politique monétaire a-t-elle des effets asymétriques sur l'emploi?
Several economists, including Cover (1992), Ammer and Brunner (1995), Macklem, Paquet, and Phaneuf (1996), have worked over the past few years to determine whether monetary policy shocks have asymmetric effects on output. These authors have generally found that negative monetary shocks tend to reduce output growth significantly, and that positive shocks generally have a weaker […]