Bank Lending, Credit Shocks, and the Transmission of Canadian Monetary Policy Staff Working Paper 2003-9 Joseph Atta-Mensah, Ali Dib The authors use a dynamic general-equilibrium model to study the role financial frictions play as a transmission mechanism of Canadian monetary policy, and to evaluate the real effects of exogenous credit shocks. Financial frictions, which are modelled as spreads between deposit and loan interest rates, are assumed to depend on economic activity as well as on credit shocks. Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Monetary policy framework, Monetary policy transmission JEL Code(s): E, E3, E32, E4, E5, E51
A Comparison of Twelve Macroeconomic Models of the Canadian Economy Technical Report No. 94 Denise Côté, John Kuszczak, Jean-Paul Lam, Ying Liu, Pierre St-Amant In this report, the authors examine and compare twelve private and public sector models of the Canadian economy with respect to their paradigm, structure, and dynamic properties. These open-economy models can be grouped into two economic paradigms. Content Type(s): Staff research, Technical reports Topic(s): Economic models, Monetary policy and uncertainty JEL Code(s): C, C5, E, E5, E52, E58
March 21, 2003 Market Consultations—December 2002: Summary of Comments Overall, market participants agreed that domestic borrowing programs are operating smoothly and participants have also reacted positively to potential program initiatives and adjustments that the Bank of Canada and the Department of Finance are considering for 2003/04.
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