June 12, 2009 Bank of Canada Announces Details of its Term PRA Operation In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 21 April (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation. Content Type(s): Press, Market notices
December 22, 2008 Results for the 22 December 2008 Term Loan Facility The results of today's TLF operation are as follows: Content Type(s): Press, Market notices
The Sale of Durable Goods by a Monopolist in a Stochastic Environment Staff Working Paper 1998-18 Gabriel Srour This paper examines the sale of durable goods by a monopolist in a stochastic partil equilibrium setting. It analyzes the responses of prices and output to various types of shocks and notes the differences with non-durable goods and competitive markets. It shows that behavior in this model with constant marginal costs of production is in […] Content Type(s): Staff research, Staff working papers Research Topic(s): Market structure and pricing JEL Code(s): D, D4
March 24, 2010 The Virtue of Productivity in a Wicked World Remarks Mark Carney Ottawa Economics Association Ottawa, Ontario It is either brave or foolhardy of the Ottawa Economics Association to organize another conference around Canada's perennial challenges of demographics, productivity, and potential growth. Content Type(s): Press, Speeches and appearances, Remarks
Canadian Policy Analysis Model: CPAM Staff Working Paper 1997-16 Richard Black, David Rose This paper documents the structure and properties of the Canadian Policy Analysis Model (CPAM). CPAM is designed to provide a reasonably complete representation of the Canadian macro economy. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models JEL Code(s): C, C5, C53, E, E1, E17
Menu Costs, Relative Prices, and Inflation: Evidence for Canada Staff Working Paper 1997-14 Robert Amano, Tiff Macklem The menu-cost models of price adjustment developed by Ball and Mankiw (1994;1995) predict that short-run movements in inflation should be positively related to the skewness and the variance of the distribution of disaggregated relative-price shocks in each period. We test these predictions on Canadian data using the distribution of changes in disaggregated producer prices to measure the skewness and standard deviation of relative-price shocks. Content Type(s): Staff research, Staff working papers Research Topic(s): Inflation and prices, Monetary policy framework JEL Code(s): C, C5, C52, E, E3, E31
Liquidity Effects and Market Frictions Staff Working Paper 1998-11 Scott Hendry, Guang-Jia Zhang The goal of this paper is to shed light on the nature of the monetary transmission mechanism. Specifically, we attempt to tackle two problems in standard limited-participation models: (1) the interest rate liquidity effect is not as persistent as in the data; and (2) some nominal variables are unrealistically volatile. To address these problems, we […] Content Type(s): Staff research, Staff working papers Research Topic(s): Monetary policy transmission JEL Code(s): E, E5
A Band-Aid Solution to Inflation Targeting Staff Working Paper 1997-11 Robert Amano, Richard Black, Marcel Kasumovich This paper reviews selectively the literature on exchange rate target zones and corresponding methodologies and examines whether they can be used to analyse the inflation-control problem. Content Type(s): Staff research, Staff working papers Research Topic(s): Inflation targets JEL Code(s): E, E3, E31, E5, E50
Mesures du taux d'inflation tendanciel Staff Working Paper 1997-9 Thérèse Laflèche In this paper, the author calculates new measures of the trend inflation rate using changes in the components of total CPI; the hypothesis is that extreme fluctuations in certain prices reflect temporary supply shocks rather than any basic price trend. Content Type(s): Staff research, Staff working papers Research Topic(s): Inflation and prices JEL Code(s): E, E3, E31
March 15, 2010 Bank of Canada Announces Recipients of 2010 Fellowship and Governor's Awards Media Relations Ottawa, Ontario The Bank of Canada today announced that Professor Paul Beaudry of the University of British Columbia is the recipient of the Bank's Research Fellowship for 2010. Content Type(s): Press, Press releases Source(s): Fellowship Program