Institutional Quality, Trade, and the Changing Distribution of World Income Staff Working Paper 2006-19 Brigitte Desroches, Michael Francis Conventional wisdom holds that institutional changes and trade liberalization are two main sources of growth in per capita income around the world. Content Type(s): Staff research, Staff working papers Research Topic(s): Development economics, International topics JEL Code(s): F, F1, F11, F15, O, O1, O11, P, P4, P48
April 24, 2002 Bank of Canada releases its April Monetary Policy Report Media Relations Ottawa, Ontario Canada's economic outlook has improved significantly since the November Monetary Policy Report. Indeed, information on the fourth quarter of last year and the first quarter of 2002 indicates that the recovery in the Canadian economy began sooner and has been considerably stronger than anticipated. Content Type(s): Press, Press releases
January 28, 2002 Bank of Canada Governor reviews key developments of last year Media Relations Winnipeg, Manitoba The Governor highlighted the global slowdown as the major economic challenge of the past year. But he said that there were also key changes within the Bank of Canada related to the implementation of monetary policy. In particular, he spoke of the success of the Bank's new system of eight fixed dates per year for announcing interest rate decisions. He also set out in detail the process that leads to those decisions. Content Type(s): Press, Press releases
November 27, 2001 Bank of Canada lowers key policy interest rate by 1/2 percentage point to 2 1/4 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is lowering its target for the overnight rate* by one-half of one percentage point to 2 1/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 2 1/2 per cent. Content Type(s): Press, Press releases
September 17, 2001 Bank of Canada lowers key policy interest rate by 1/2 percentage point to 3 1/2 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of one percentage point to 3 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3 3/4 per cent. Content Type(s): Press, Press releases
August 28, 2001 Bank of Canada lowers key policy interest rate by 1/4 percentage point to 4 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is lowering its target for the overnight rate* by one-quarter of one percentage point to 4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 4 1/4 per cent. With today's action, the total reduction in interest rates by the Bank this year amounts to 1 3/4 percentage points. Content Type(s): Press, Press releases
The Bank of Canada's New Quarterly Projection Model, Part 1. The Steady-State Model: SSQPM Technical Report No. 72 Richard Black, Douglas Laxton, David Rose, Robert Tetlow This report is the first documenting the Bank of Canada's new model of the Canadian economy, the Quarterly Projection Model (QPM). QPM is used at the Bank of Canada for both economic projections and policy analysis. Here the authors focus on the model's long-run properties, describing SSQPM, a model of the steady state of QPM […] Content Type(s): Staff research, Technical reports Research Topic(s): Economic models JEL Code(s): C, C5, C51, E, E1, E13
Wealth, Disposable Income and Consumption: Some Evidence for Canada Technical Report No. 71 Tiff Macklem The author develops a measure of aggregate private sector wealth in Canada and examines its ability to explain aggregate consumption of non-durables and services. This wealth measure includes financial, physical and human wealth. The author measures human wealth as the expected present value of aggregate labour income, net of government expenditures, based on a discrete […] Content Type(s): Staff research, Technical reports Research Topic(s): Domestic demand and components JEL Code(s): D, D9, D91, E, E2, E21
July 17, 2001 Bank of Canada lowers key policy interest rate by 1/4 percentage point to 4 1/4 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is lowering its target for the overnight rate* by one-quarter of one percentage point to 4 1/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 4 1/2 per cent. Content Type(s): Press, Press releases
July 13, 2001 Statement From the Governor Media Relations On behalf of the staff and Board of Directors of the Bank of Canada, Governor David Dodge today issued the following statement on the death this week of Tim Noël, Deputy Governor of the Bank since 1994: Content Type(s): Press, Press releases