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9502 Results

March 8, 2007

Meeting Global Economic Challenges: The Need for Flexibility

Remarks David Dodge Calgary Chamber of Commerce Calgary, Alberta
Our primary objective at the Bank is to promote the economic and financial welfare of Canadians. Over the years, we have learned that the best contribution that monetary policy can make in this regard is to give Canadians confidence in the future value of their money. We do this by keeping inflation low, stable, and predictable.
January 18, 2007

Release of the Monetary Policy Report Update

Opening statement David Dodge
The Canadian economy is judged to have been operating at, or just above, its production capacity at the end of 2006, following weaker-than-expected growth in the second half of last year. This slowdown stemmed from reduced demand for Canadian exports - related to weakness in the U.S. automotive and housing sectors - and from the need for Canadian businesses to adjust inventories.

Learning-by-Doing or Habit Formation?

Staff Working Paper 2005-15 Hafedh Bouakez, Takashi Kano
In a recent paper, Chang, Gomes, and Schorfheide (2002) extend the standard real business cycle (RBC) model to allow for a learning-by-doing (LBD) mechanism whereby current labour supply affects future productivity.

An Empirical Analysis of the Canadian Term Structure of Zero-Coupon Interest Rates

Staff Working Paper 2004-48 David Bolder, Adam Metzler, Grahame Johnson
Zero-coupon interest rates are the fundamental building block of fixed-income mathematics, and as such have an extensive number of applications in both finance and economics.

Real Return Bonds, Inflation Expectations, and the Break-Even Inflation Rate

Staff Working Paper 2004-43 Ian Christensen, Christopher Reid, Frédéric Dion
According to the Fisher hypothesis, the gap between Canadian nominal and Real Return Bond yields (or break-even inflation rate) should be a good measure of inflation expectations.
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