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 29, 2010 Beyond Recovery: Sustaining Economic Growth Remarks Paul Jenkins Economic Club of Canada Toronto, Ontario John Maynard Keynes said the objective of "analysis is … to provide ourselves with an organized and orderly method of thinking out particular problems .… This is the nature of economic thinking." Content Type(s): Press, Speeches and appearances, Remarks
Lagging Productivity Growth in the Service Sector: Mismeasurement, Mismanagement or Misinformation? Staff Working Paper 1997-6 Dinah Maclean While the service sector has been growing rapidly as a share of total output, aggregate productivity growth has generally lagged behind that of the goods sector. In this report, the author assesses a range of explanations for lagging service sector productivity growth. Content Type(s): Staff research, Staff working papers Topic(s): Productivity, Recent economic and financial developments JEL Code(s): L, L8, L80, O, O4, O47
March 31, 2010 The Bank of Canada Releases Its Annual Report for 2009 Media Relations Ottawa, Ontario The Bank of Canada's Annual Report for 2009 was tabled in the House of Commons today. Content Type(s): Press, Press releases
La courbe de Phillips au Canada : un examen de quelques hypothèses Staff Working Paper 1997-3 Jean-François Fillion, André Léonard This study, which draws on a variety of research on price dynamics in Canada, examines some hypotheses that might explain the poor quality of recent inflation forecasts based on the conventional Phillips curve. Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices, Inflation targets JEL Code(s): C, C5, C52, E, E3, E31
Pricing Interest Rate Derivatives in a Non-Parametric Two-Factor Term-Structure Model Staff Working Paper 1999-19 John Knight, Fuchun Li, Mingwei Yuan Diffusion functions in term-structure models are measures of uncertainty about future price movements and are directly related to the risk associated with holding financial securities. Correct specification of diffusion functions is crucial in pricing options and other derivative securities. In contrast to the standard parametric two-factor models, we propose a non-parametric two-factor term-structure model that […] Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Market structure and pricing JEL Code(s): C, C1, C14, C2, C22, G, G1, G13
The Commodity-Price Cycle and Regional Economic Performance in Canada Staff Working Paper 1996-12 Mario Lefebvre, Stephen S. Poloz This paper attempts to provide one interpretation of the broad regional economic history of Canada since the early 1970s. As the title of the paper suggests, we believe that, to a significant degree, regional diversity in economic performance reflects movements in Canada's terms of trade, which very frequently are tied to developments in world commodity markets. Content Type(s): Staff research, Staff working papers Topic(s): Regional economic developments JEL Code(s): E, E3, E32
Symétrie des chocs touchant les régions canadiennes et choix d'un régime de change Staff Working Paper 1994-9 Alain DeSerres, René Lalonde The authors attempt to determine whether the primary advantage of the flexible exchange rate between Canada and the United States—the rapid adjustment of the real exchange rate following an asymmetrical shock—is as evident at the regional as at the national level. Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates
L'endettement du secteur privé au Canada: un examen macroéconomique Staff Working Paper 1994-7 Jean-François Fillion In this study, the author examines the hypothesis of private-sector debt overhang, which suggests that households and businesses may on occasion find themselves holding too much debt and so decide to reduce it by cutting back expenditures. His aim is to determine whether this hypothesis can help explain the weakness of credit growth and the sluggishness of the recent economic recovery in Canada. Content Type(s): Staff research, Staff working papers Topic(s): Sectoral balance sheet
Capital Gains and Inflation Taxes in a Life-cycle Model Staff Working Paper 1999-2 Charles Leung, Guang-Jia Zhang Inflation distorts an economy through many channels. This paper highlights the interaction between inflation and capital gains tax and how they distort an economy through the financial market. Several observations motivate this research. First, capital formation or investment is an important channel for economic agents to smooth their consumption over their life cycles. Second, capital […] Content Type(s): Staff research, Staff working papers Topic(s): Inflation: costs and benefits JEL Code(s): E, E5, E6