March 21, 2003 Debt Management Strategy: Market Consultations for 2003/04 - Summary of Comments In December 2002, officials from the Department of Finance and the Bank of Canada consulted with market participants on a number of issues related to domestic debt programs. Comments received were taken into consideration in the development of the debt strategy for 2003/04. Content Type(s): Press, Market notices
March 18, 2003 Sound Economic Policies Pay Off, Governor Says Media Relations Rome, Italy The best way to promote sustained economic growth is to stick to an economic policy framework that has proven its worth, Bank of Canada Governor David Dodge said today. Content Type(s): Press, Press releases
March 18, 2003 The Benefits of Sound Economic Policies Remarks David Dodge Italian Bankers Association Rome, Italy Canada and Italy share many similar characteristics. We both belong to the G-7, and we are among the smaller members of that group. Our two economies vary greatly from region to region, both in terms of structure and strength. Content Type(s): Press, Speeches and appearances, Remarks
March 12, 2003 Website Awards Event Remarks David Dodge Website Awards Event, Central Banking Publications and Lombard Street Research London, United Kingdom It has become almost a cliché to point out that "Internet time moves faster than normal time." But I'm reminded of that observation as I accept this award - an award for achievement in a medium that barely existed ten years ago. Content Type(s): Press, Speeches and appearances, Remarks
March 12, 2003 Sound Economic Policies Help Meet Global Challenges, Governor Says Media Relations London, United Kingdom The best way to promote sustained economic growth is to stick to an economic policy framework that has proven its worth, Bank of Canada Governor David Dodge said today. Content Type(s): Press, Press releases
March 12, 2003 Meeting Global Challenges: The Importance of Sound Economic Policies Remarks David Dodge Canada-UK Chamber of Commerce London, United Kingdom We are facing a time of great economic and political uncertainty. While economic activity is close to potential in Canada, most other countries are facing very weak demand and lacklustre economic prospects. And, of course, there is the overriding prospect of a war in Iraq. Content Type(s): Press, Speeches and appearances, Remarks
March 4, 2003 Bank of Canada raises overnight rate target by 1/4 percentage point to 3 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 3 per cent. Content Type(s): Press, Press releases
Comparing Alternative Output-Gap Estimators: A Monte Carlo Approach Staff Working Paper 2003-8 Andrew Rennison The author evaluates the ability of a variety of output-gap estimators to accurately measure the output gap in a model economy. A small estimated model of the Canadian economy is used to generate artificial data. Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Econometric and statistical methods, Potential output JEL Code(s): C, C1, C15, E, E3, E32
Testing the Stability of the Canadian Phillips Curve Using Exact Methods Staff Working Paper 2003-7 Lynda Khalaf, Maral Kichian Postulating two different specifications for the Canadian Phillips curve (a purely backwardlooking model, and a partly backward-, partly forward-looking model), the authors test for structural breaks in the parameters of the equation. In each case, they account for the possibilities that: (i) breaks can be discrete, or continuous, and (ii) available data samples may be too small to justify using asymptotically valid structural-change tests. Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods JEL Code(s): C, C1, C15, C5, C52, E, E3, E31, E37
Valuation of Canadian- vs. U.S.-Listed Equity: Is There a Discount? Staff Working Paper 2003-6 Michael R. King, Dan Segal The authors examine how the valuation multiples assigned to the equity of Canadian-listed firms compare with the equity of comparable firms listed in the United States. They find that Canadian-listed firms trade at a discount to U.S.-listed firms across a range of valuation measures. Content Type(s): Staff research, Staff working papers Topic(s): Financial markets JEL Code(s): G, G1, G12, G15