Alternative Optimized Monetary Policy Rules in Multi-Sector Small Open Economies: The Role of Real Rigidities Staff Working Paper 2010-9 Carlos De Resende, Ali Dib, Maral Kichian Inflation-targeting central banks around the world often state their inflation objectives with regard to the consumer price index (CPI). Yet the literature on optimal monetary policy based on models with nominal rigidities and more than one sector suggests that CPI inflation is not always the best choice from a social welfare perspective. Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices, Inflation targets, Inflation: costs and benefits, Monetary policy framework, Monetary policy implementation JEL Code(s): E, E4, E5, E52, F, F3, F4
Market Expectations and Option Prices: Evidence for the Can$/US$ Exchange Rate Staff Discussion Paper 2010-2 Alejandro García, Andrei Prokopiw Security prices contain valuable information that can be used to make a wide variety of economic decisions. To extract this information, a model is required that relates market prices to the desired information, and that ideally can be implemented using timely and low-cost methods. Content Type(s): Staff research, Staff discussion papers Topic(s): Econometric and statistical methods, Exchange rates, Financial markets JEL Code(s): C, C0, C00, C02, G, G1, G13
March 15, 2010 Results of the 15 March 2010 Term PRA Transaction The results of today's term PRA operations. Content Type(s): Press, Market notices
March 15, 2010 Bank of Canada Announces Recipients of 2010 Fellowship and Governor's Awards Media Relations Ottawa, Ontario The Bank of Canada today announced that Professor Paul Beaudry of the University of British Columbia is the recipient of the Bank's Research Fellowship for 2010. Content Type(s): Press, Press releases Source(s): Fellowship Program
March 12, 2010 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 19 January (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation. Content Type(s): Press, Market notices
March 11, 2010 Bank of Canada: 75 Years Today Media Relations Ottawa, Ontario The Bank of Canada today is celebrating the 75th anniversary of the opening of its doors for business and to mark the occasion, Governor Mark Carney met with economics students from across Canada. Content Type(s): Press, Press releases
March 11, 2010 Principles for Interesting Times Remarks Mark Carney Carleton University Ottawa, Ontario I would like to thank students from universities across Canada for joining me on this special day, the 75th anniversary of the Bank of Canada Content Type(s): Press, Speeches and appearances, Remarks
March 10, 2010 Bank of Canada announces Deputy Governor Appointment Media Relations Ottawa, Ontario Board of Directors of the Bank of Canada today announced the appointment of Jean Boivin as Deputy Governor and member of the Governing Council of the Bank effective 1 April. Content Type(s): Press, Press releases
March 10, 2010 Bank of Canada announces retirement of Deputy Governor Pierre Duguay Media Relations Ottawa, Ontario The Bank of Canada today announced that Pierre Duguay, Deputy Governor, will retire from the Bank on 29 July 2010. Content Type(s): Press, Press releases
March 9, 2010 Inflation Expectations and the Conduct of Monetary Policy: A Review of Recent Evidence and Experience Bank of Canada Review - Spring 2010 Rose Cunningham, Brigitte Desroches, Eric Santor This article explores the role of inflation expectations in the conduct of monetary policy. It reviews the various measures of inflation expectations used by central banks, including surveys and market-based indicators, and considers their advantages and disadvantages. It examines the critical role of inflation expectations in the framework that central banks use to understand, forecast, and control inflation. It also looks at their role as an indicator of central bank credibility. The behaviour of inflation expectations over the past two years is analyzed and policy conclusions are offered. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Inflation targets, Monetary policy implementation