February 2, 2009 Bank of Canada Announces Details of its 35 Day Term PRA Transaction In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 20 January, the Bank of Canada announced today that it will enter into a 35-day term PRA transaction. Content Type(s): Press, Market notices
Inventories and Real Rigidities in New Keynesian Business Cycle Models Staff Working Paper 2009-9 Oleksiy Kryvtsov, Virgiliu Midrigan Kryvtsov and Midrigan (2008) study the behavior of inventories in an economy with menu costs, fixed ordering costs and the possibility of stock-outs. This paper extends their analysis to a richer setting that is capable of more closely accounting for the dynamics of the US business cycle. Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Monetary policy transmission JEL Code(s): E, E3, E31, F, F1, F12
Optimal Policy under Commitment and Price Level Stationarity Staff Working Paper 2009-8 Gino Cateau This paper proposes a simple analytical method to determine the stationarity of an unnormalized variable from the solution to a normalized model i.e. a model whose variables must be expressed in relative terms or must be differenced for a solution to exist. Content Type(s): Staff research, Staff working papers Topic(s): Monetary policy framework JEL Code(s): E, E5, E52, E58
Assessing Indexation-Based Calvo Inflation Models Staff Working Paper 2009-7 Jean-Marie Dufour, Lynda Khalaf, Maral Kichian Using identification-robust methods, the authors estimate and evaluate for Canada and the United States various classes of inflation equations based on generalized structural Calvo-type models. The models allow for different forms of frictions and vary in their assumptions regarding the type of price indexation adopted by firms. Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Inflation and prices JEL Code(s): C, C1, C13, C5, C52, E, E3, E31
February 2, 2009 Results of the 2 February 2009 Term PRA Transaction for Private Sector Money Market Instruments The results of today's term PRA operations. Content Type(s): Press, Market notices
February 2, 2009 Results for the 2 February 2009 Term Loan Facility Results of today's TLF operation. Content Type(s): Press, Market notices
February 2, 2009 Bank of Canada Announces the Minimum Bid Rate for Today's Term PRA Facility for Private Sector Money Market Instruments The minimum bid rate for today's 15-day Term PRA Facility for Private Sector Money Market Instruments is 1.740%. Content Type(s): Press, Market notices
January 30, 2009 Bank of Canada Announces Details of its 30 Day Term Loan Facility In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 20 January, the Bank of Canada announced today that it will enter into a 30-day TLF transaction. Content Type(s): Press, Market notices
January 30, 2009 Bank of Canada Announces Details of its Term PRA Facility for Private Sector Money Market Instruments In accordance with the schedule of term purchase and resale agreement (PRA) auctions for private sector money market instruments announced on 20 January, the Bank of Canada announced today that it will enter into a 15-day term PRA transaction for private sector money market instruments. Content Type(s): Press, Market notices
January 30, 2009 Annual Report 2008 It has been a difficult year. The financial turmoil that began mid-2007 deteriorated into a full-blown global financial crisis through 2008. While the resilience and soundness of the Canadian financial system were in many respects exceptional, the scale of the financial crisis and the subsequent global recession had an increasing impact by year’s end on our financial system and our economy. Content Type(s): Publications, Annual Report