November 20, 2003 Low and Predictable Inflation and the Performance of Canadian Labour Markets Lecture David Dodge Memorial University of Newfoundland St. John's, Newfoundland and Labrador The goal of Canadian monetary policy is to contribute to solid economic performance and rising living standards. The best way we can do this is by keeping inflation low, stable, and predictable. This has important implications for labour market performance. Content Type(s): Press, Speeches and appearances, Lectures
November 17, 2003 Global Challenges, Canadian Opportunities Remarks David Dodge Office for Partnerships for Advanced Skills Annual Visionary Seminar Ottawa, Ontario It is certainly nothing new to say that economies have become increasingly globalized. In his 1962 book, The Gutenberg Galaxy, Marshall McLuhan observed that the electronic mass media were collapsing time and space barriers. This enabled people to communicate on a global scale. He coined the term "global village" to describe this change. Content Type(s): Press, Speeches and appearances, Remarks
November 3, 2003 On Economic Education Remarks David Dodge David Dodge Tribute Dinner hosted by the Canadian Foundation of Economic Education Toronto, Ontario The program this evening focuses on the value of public service and the importance of economic and financial literacy for the well-being of Canadians. These two themes have special significance for me, as my career has involved time spent in the public service as well as teaching. Content Type(s): Press, Speeches and appearances, Remarks
November 3, 2003 Bank of Canada announces the elimination of retroactive settlement in the ACSS The Bank of Canada announced that, effective 1 November 2003, it will no longer backdate the results of payments settling through the Automated Clearing Settlement System (ACSS), an accounting practice that has been in place since July 1986. Content Type(s): Press, Market notices
Excess Collateral in the LVTS: How Much is Too Much? Staff Working Paper 2003-36 Kim McPhail, Anastasia Vakos The authors build a theoretical model that generates demand for collateral by Large Value Transfer System (LVTS) participants under the assumption that they minimize the cost of holding and managing collateral for LVTS purposes. The model predicts that the optimal amount of collateral held by each LVTS participant depends on the opportunity cost of collateral, the transactions costs of acquiring assets used as collateral and transferring them in and out of the LVTS, and the distribution of an LVTS participant's payment flows in the LVTS. Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Payment clearing and settlement systems JEL Code(s): E, E4, E44, G, G2, G21
Real Exchange Rate Persistence in Dynamic General-Equilibrium Sticky-Price Models: An Analytical Characterization Staff Working Paper 2003-35 Hafedh Bouakez This paper assesses analytically the ability of dynamic general-equilibrium sticky-price models to generate persistent real exchange rate fluctuations. It develops a tractable general-equilibrium model with Calvo-type price stickiness. Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Exchange rates, International topics JEL Code(s): F, F3, F31, F4, F41
October 29, 2003 Bank of Canada Governor David Dodge corrects a misstatement Media Relations Ottawa, Ontario Bank of Canada Governor David Dodge corrects a misstatement he made in responding to a question yesterday relating to what he heard at the G-20 meeting about U.S. growth and how it might affect Bank of Canada projections. Content Type(s): Press, Press releases
October 23, 2003 Opening Statement before the Senate Banking, Trade and Commerce Committee Opening statement David Dodge Senate Banking, Trade and Commerce Committee The last time that I appeared before this committee was after the release of our April Report. Since then, our economy has been hit by a number of unusual shocks. Because of these shocks and other factors, growth has been weaker than expected. We now estimate that there is more slack in the economy than we had projected in April. Content Type(s): Press, Speeches and appearances, Opening statements
October 22, 2003 Release of the Monetary Policy Report Opening statement David Dodge Since our April Report, the Canadian economy has been hit by a number of unusual shocks: SARS, BSE, the Ontario electricity blackout, and the severe forest fires in British Columbia. Inflation has also fallen faster and further than expected. Content Type(s): Press, Speeches and appearances, Opening statements
October 22, 2003 Monetary Policy Report – October 2003 In the April Monetary Policy Report, the Bank noted that inflation was well above its 2 per cent target and that short-term inflation expectations had edged up. Content Type(s): Publications, Monetary Policy Report