Find Bank of Canada research by keyword, author, content type, JEL code, topic or date of publication.
Receive notification by email whenever new research is added to the website.
1934
result(s)
Inflation Targeting under Uncertainty
Technical Report No. 85
Gabriel Srour
This paper studies the implications of certain kinds of uncertainty for monetary policy. It first describes the optimum policy rule in a simple model of the transmission mechanism as in Ball and Svensson.
Content Type(s):
Staff research,
Technical reports
Topic(s):
Monetary policy and uncertainty,
Monetary policy framework
JEL Code(s):
E,
E5,
E52
The Exchange Rate Regime and Canada's Monetary Order
Staff Working Paper 1999-7
David Laidler
It is a mistake to debate the merits of alternative exchange rate regimes for Canada independently of other features of the monetary order. A coherent order requires a well-defined goal for monetary policy, one that the authorities are capable of achieving, and that anchors private sector expectations. For it to be liberal, the relevant authorities […]
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
Monetary policy framework
JEL Code(s):
E,
E5,
E52,
F,
F3,
F31
An Intraday Analysis of the Effectiveness of Foreign Exchange Intervention
Staff Working Paper 1999-4
Neil Beattie,
Jean-François Fillion
This paper assesses the effectiveness of Canada's official foreign exchange intervention in moderating intraday volatility of the Can$/US$ exchange rate, using a 2-1/2-year sample of 10-minute exchange rate data. The use of high frequency data (higher than daily frequency) should help in assessing the impact of intervention since the foreign exchange market is efficient and […]
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
Financial markets
JEL Code(s):
F,
F3,
F31,
G,
G1,
G15
Yield Curve Modelling at the Bank of Canada
Technical Report No. 84
David Bolder,
David Stréliski
The primary objective of this paper is to produce a framework that could be used to construct a historical data base of zero-coupon and forward yield curves estimated from Government of Canada securities' prices.
Content Type(s):
Staff research,
Technical reports
Topic(s):
Economic models
Forecasting GDP Growth Using Artificial Neural Networks
Staff Working Paper 1999-3
Greg Tkacz,
Sarah Hu
Financial and monetary variables have long been known to contain useful leading information regarding economic activity. In this paper, the authors wish to determine whether the forecasting performance of such variables can be improved using neural network models. The main findings are that, at the 1-quarter forecasting horizon, neural networks yield no significant forecast improvements. […]
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Monetary and financial indicators
JEL Code(s):
C,
C4,
C45,
E,
E3,
E37,
E4,
E44
Capital Gains and Inflation Taxes in a Life-cycle Model
Staff Working Paper 1999-2
Charles Leung,
Guang-Jia Zhang
Inflation distorts an economy through many channels. This paper highlights the interaction between inflation and capital gains tax and how they distort an economy through the financial market. Several observations motivate this research. First, capital formation or investment is an important channel for economic agents to smooth their consumption over their life cycles. Second, capital […]
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation: costs and benefits
JEL Code(s):
E,
E5,
E6
Dynamic Employment and Hours Effects of Government Spending Shocks
Staff Working Paper 1999-1
Mingwei Yuan,
Wenli Li
In this paper, we analyze the dynamic behaviour of employment and hours worked per worker in a stochastic general equilibrium model with a matching mechanism between vacancies and unemployed workers. The model is estimated for the United States using the Generalized Methods of Moments (GMM) estimation technique. An increase in government spending raises hours worked […]
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Fiscal policy,
Labour markets
JEL Code(s):
E,
E2,
E24,
E3,
E32,
E6,
E62,
J,
J6,
J64
Résultats empiriques multi-pays relatifs à l'impact des cibles d'inflation sur la crédibilité de la politique monétaire
Staff Working Paper 1998-23
Pierre St-Amant,
David Tessier
Over the last few years, many countries have adopted inflation targets. The objective of this paper is to report some empirical results that bear on the link between the adoption of inflation targets and the behaviour of the main macroeconomic variables. After a discussion of some recent articles analyzing international experience, some simple statistical tests […]
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation targets
A Non-Paradoxical Interpretation of the Gibson Paradox
Staff Working Paper 1998-22
Serge Coulombe
In this study, we show how, to yield the real cost of borrowing, the price level can be combined with the nominal interest rate in a monetary regime where the level of prices is trend stationary. We show that the price level then conveys intertemporal information in a way similar to nominal interest rates. We […]
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices,
Inflation targets,
Inflation: costs and benefits,
Interest rates