June 13, 2007 Governor Dodge Discusses the Implications of Demographics on Monetary Policy Media Relations St. John's, Newfoundland and Labrador Demographic trends and the effect of Canada's aging population have begun to have an impact on the Canadian monetary policy, Bank of Canada Governor David Dodge said today. Content Type(s): Press, Press releases
May 24, 2006 Bank of Canada raises overnight rate target by 1/4 percentage point to 4 1/4 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 4 1/4 per cent. Content Type(s): Press, Press releases
April 27, 2006 Bank of Canada releases Monetary Policy Report Media Relations Ottawa, Ontario The Bank of Canada today released its April Monetary Policy Report (MPR), which discusses current economic and financial trends in the context of Canada's inflation-control strategy. Content Type(s): Press, Press releases
April 25, 2007 Bank of Canada Governor David Dodge will not seek second term Media Relations Ottawa, Ontario Governor David Dodge has informed the Bank of Canada's Board of Directors and the Minister of Finance that he will not seek a second term as Governor. Content Type(s): Press, Press releases
March 29, 2007 Dodge discusses the need for sound economic policies, both globally and locally Media Relations New York, New York In a speech to the Americas Society and the Council of the Americas, Bank of Canada Governor David Dodge said today that the United States and Canada should lead the effort to strengthen institutions such as the International Monetary Fund. Content Type(s): Press, Press releases
The Monetary Origins of Asymmetric Information in International Equity Markets Staff Working Paper 2004-47 Gregory Bauer, Clara Vega Existing studies using low-frequency data show that macroeconomic shocks contribute little to international stock market covariation. Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, International topics, Market structure and pricing JEL Code(s): F, F3, F30, G, G1, G12, G14, G15
The Transmission of World Shocks to Emerging-Market Countries: An Empirical Analysis Staff Working Paper 2004-44 Brigitte Desroches The first step in designing effective policies to stabilize an economy is to understand business cycles. No country is isolated from the world economy and external shocks are becoming increasingly important. Content Type(s): Staff research, Staff working papers Topic(s): Exchange rate regimes, International topics, Monetary policy transmission JEL Code(s): E, E3, E30, E32, E6, E61, F, F0, F02
Characterization of the Dynamic Effects of Fiscal Shocks in a Small Open Economy Staff Working Paper 2004-41 Nooman Rebei The author studies the macroeconomic consequences of discretionary changes in the fiscal policy instruments for Canada. Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Exchange rates, Fiscal policy JEL Code(s): E, E3, E32, E6, E62
The Implications of Transmission and Information Lags for the Stabilization Bias and Optimal Delegation Staff Working Paper 2004-37 Jean-Paul Lam, Florian Pelgrin In two recent papers, Jensen (2002) and Walsh (2003), using a hybrid New Keynesian model, demonstrate that a regime that targets either nominal income growth or the change in the output gap can effectively replicate the outcome under commitment and hence reduce the size of the stabilization bias. Content Type(s): Staff research, Staff working papers Topic(s): Inflation targets, Monetary policy transmission JEL Code(s): E, E5, E52, E58, E6, E62
The U.S. New Keynesian Phillips Curve: An Empirical Assessment Staff Working Paper 2004-35 Alain Guay, Florian Pelgrin The authors examine the evidence presented by Galí and Gertler (1999) and Galí, Gertler, and Lopez-Salido (2001, 2003) that the inflation dynamics in the United States can be well-described by the New Keynesian Phillips curve (NKPC). Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Inflation and prices JEL Code(s): C, C1, C13, C5, C52, E, E3, E31