June 11, 2009 Path to Renewed Globalization Critical for New World Economic Order, Governor Carney says Media Relations Montréal, Quebec Countries around the world must work toward a new global economy that is open, resilient, and responsible, Bank of Canada Governor Mark Carney said today, as he laid out an agenda for the renewal of globalization. Content Type(s): Press, Press releases
June 11, 2009 BoC-GEM: Modelling the World Economy Bank of Canada Review - Summer 2009 René Lalonde, Dirk Muir BoC-GEM, an adaptation of the Global Economy Model, initially developed at the International Monetary Fund and the New York Federal Reserve, is a very useful tool to tackle a broad range of issues pertinent to the current economic context, such as the recent movements in commodity prices and the adjustment of global imbalances. This article describes the structure and functioning of BoC-GEM and details some examples of recent application in the areas of monetary policy and issues in the real economy and questions of financial stability and describes ongoing research into introducing a financial sector into the model. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Economic models, International topics
June 10, 2009 Results for the 10 June 2009 Term Loan Facility Results of today's TLF operation. Content Type(s): Press, Market notices
June 9, 2009 Results of the 9 June 2009 Term PRA Transaction for Private Sector Instruments Results of today's term PRA operations. Content Type(s): Press, Market notices
June 8, 2009 Results of the 8 June 2009 Term PRA Transaction Results of today's term PRA operations. Content Type(s): Press, Market notices
June 5, 2009 Bank of Canada Announces Details of its Term Loan Facility Operation In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 24 April (see schedule), the Bank of Canada announced today that it will conduct a TLF operation. Content Type(s): Press, Market notices
June 5, 2009 Bank of Canada Announces Details of its Term PRA for Private Sector Instruments Operation In accordance with the schedule of term purchase and resale agreement (PRA) auctions for private sector instruments announced on 24 April (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation for private sector instruments. Content Type(s): Press, Market notices
June 5, 2009 Bank of Canada Announces Details of its Term PRA Operation In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 21 April (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation. Content Type(s): Press, Market notices
June 4, 2009 Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010 Media Relations Ottawa, Ontario The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. Content Type(s): Press, Press releases
Structural Multi-Equation Macroeconomic Models: Identification-Robust Estimation and Fit Staff Working Paper 2009-19 Jean-Marie Dufour, Lynda Khalaf, Maral Kichian Weak identification is likely to be prevalent in multi-equation macroeconomic models such as in dynamic stochastic general equilibrium setups. Identification difficulties cause the breakdown of standard asymptotic procedures, making inference unreliable. Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Inflation and prices JEL Code(s): C, C5, C52, C53, E, E3, E37