December 18, 2005
Find Bank of Canada publications by keyword, author, content type, JEL code, topic or publication date.
1408
result(s)
December 10, 2005
A History of the Canadian Dollar - by James Powell
The history of Canada's money provides a unique perspective from which to view the growth and development of the Canadian economy and Canada as a nation. Author James Powell traces the evolution of Canadian money form its pre-colonial origins to the present day, highlighting the currency chaos of the colonial period, as well as the effects of two world wars and the Great Depression.
Content Type(s):
Publications,
Books and monographs,
Souvenir books
December 8, 2005
Towards a Made-in-Canada Monetary Policy: Closing the Circle
When the Bank of Canada was first established in 1935, it had two very different models to choose from—the Bank of England and the U.S. Federal Reserve—in terms of the instruments that it might use for implementing monetary policy. Although some aspects of the Bank's early monetary policy practices, including the role of discount facilities and moral suasion, reflect the British example, other important differences shaped a distinctly Canadian approach. Chant describes what he argues are distinctively Canadian innovations: the Bank's favoured means of managing chartered bank liquidity through transfers of government deposits, the adoption of lagged reserve requirements, and the two periods in which it decided to float the Bank Rate. He also describes the series of bold initiatives that were undertaken in the 1990s with regard to simplifying clearing and settlement procedures, reducing reserve requirements, and setting the Bank's target for the overnight rate. Chant suggests that these changes have improved market efficiency, reduced risk and uncertainty, and strengthened the Bank's influence over its short-term operating target.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Monetary policy implementation
December 6, 2005
The Bank of Canada: An Illustrated History
This volume features interesting images and anecdotes about Canada's central bank and its place in Canadian society from 1935 until the present.
Content Type(s):
Publications,
Books and monographs,
Souvenir books
December 2, 2005
From Flapper to Bluestocking: What Happened to the Young Woman of Wellington Street?
Helliwell traces the changes that have occurred at the Bank of Canada since the early 1960s, when he first began a long and extensive relationship with the institution and its staff. He begins with his work on the Royal Commission on Banking and Finance (the Porter Commission) and continues over the next 40 years, giving particular focus to the Bank's analytic and research activities. Although he is careful to note the benefits of alternative analytical and information-gathering techniques, such as the extensive mail and direct interview survey that he and his colleagues conducted as part of the Royal Commission, Helliwell devotes most of his attention to the Bank's econometric modelling efforts, starting with RDX1 and RDX2 in the late 1960s and early 1970s. He cites some of the internal, as well as external, obstacles that had to be overcome as the Bank's modelling efforts advanced, and how shifting trends in the economics profession have sometimes posed a challenge. Helliwell concludes that these developments helped the Bank to come of age and take its place in the front ranks of the world's evidence-based policy-research institutions.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Central bank research,
Economic models
October 25, 2005
Exports, Imports, and the Appreciation of the Canadian Dollar
An objective assessment of the effects of the appreciation of the Canadian dollar in 2003 and 2004 on exports and imports requires a detailed review of the numerous other factors which may have been at play. Dion, Laurence, and Zheng discuss the influences that have affected Canada's international trade over the past two years, including exchange rate movements, global and sector-specific shocks, constraints on the domestic supply of a few products, and competition from emerging economies, most notably, China. The analysis is complemented with econometric models developed at the Bank which provide statistically valid estimates of the contribution of the Canadian-dollar appreciation to the recent developments in exports and imports.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Balance of payments and components,
Exchange rates,
International topics
October 25, 2005
Bank of Canada Review - Autumn 2005
Cover page
Ready References
The book is part of the National Currency Collection, Bank of Canada.
Photography by Gord Carter, Ottawa.
Content Type(s):
Publications,
Bank of Canada Review
October 22, 2005
How the Appreciation of the Canadian Dollar Has Affected Canadian Firms: Evidence from the Bank of Canada Business Outlook Survey
To track how firms were affected by the appreciation of the Canadian dollar in 2003 and 2004 and the steps they took in response, the Bank included supplementary questions in the quarterly Business Outlook Survey conducted by its regional offices. About half of the firms surveyed reported being adversely affected, one-quarter experienced a favourable impact, and the remainder reported no effect. Jean Mair classifies and summarizes the firms' responses, identifying the sectors that were most and least affected. Causes of the impacts are identified, as well as the actions firms took as a result of the appreciation. The article looks at these actions over time to see what they tell us about firms' adjustment process.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Balance of payments and components,
Exchange rates,
Recent economic and financial developments
October 20, 2005
The global economy has continued to grow at a robust pace since the July Monetary Policy Report Update.
Monetary Policy Report – October 2005
Content Type(s):
Publications,
Monetary Policy Report
October 18, 2005
What Drives Movements in Exchange Rates?
Understanding what causes the exchange rate to move has been on ongoing challenge for economists. Despite extensive research, traditional macro models of exchange rate determination—with the exception of the Bank of Canada's exchange rate equation—have typically not fared well, motivating economists to explore new ways to model exchange rate movements that incorporate more complex and realistic settings. Within the context of the sharp appreciation of the Canadian dollar in 2003 and 2004, Bailliu and King review the macroeconomic models of exchange rates, as well as the micro-structure studies that highlight the importance of trading mechanisms, information asymmetry, and investor heterogeneity for explaining short-term dynamics in exchange rates. In addition to summarizing the current state of knowledge, they highlight recent advances and identify promising alternative approaches.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Economic models,
Exchange rates,
Financial markets