August 28, 2006 Productivity, Terms of Trade, and Economic Adjustment Remarks Pierre Duguay Canadian Association for Business Economics Kingston, Ontario The Bank of Canada is keenly interested in productivity - for a number of reasons. Productivity gains are a key determinant of growth in potential output and, hence, of Canada's sustainable pace of non-inflationary economic expansion. Content Type(s): Press, Speeches and appearances, Remarks
Productivity, the Terms of Trade, and the Real Exchange Rate: The Balassa-Samuelson Hypothesis Revisited Staff Working Paper 2009-22 Ehsan U. Choudhri, Lawrence L. Schembri The paper examines how the Balassa-Samuelson hypothesis is affected by a modern variation of the standard model that allows product differentiation (within the traded and nontraded goods sectors) with the number of firms determined exogenously or endogenously. Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates, Productivity JEL Code(s): F, F3, F31, F4, F41
July 19, 2006 The Right Policies for Today's Global Economy Remarks David Dodge Chile-Canada Chamber of Commerce Santiago, Chile Canada and Chile both rely heavily on international trade and foreign investment for economic growth, and are both major producers of commodities. Because we share these attributes, we also share a keen interest in the health of the global economy. Content Type(s): Press, Speeches and appearances, Remarks
Collateral and Credit Supply Staff Working Paper 2003-11 Joseph Atta-Mensah The author examines the role of collateral in an environment where lenders and borrowers possess identical information and similar beliefs about its future value. Using option-pricing techniques, he shows that a secured loan contract is equivalent to a regular bond and an embedded option to the borrower to default. Content Type(s): Staff research, Staff working papers Topic(s): Credit and credit aggregates, Economic models JEL Code(s): E, E5, E51, G, G1, G11, G12, G13
May 5, 2006 The Crucial Contribution of the Financial System and Monetary Policy to Economic Development Remarks David Longworth Conference of the Association des économistes québécois Montréal, Quebec Many analysts have examined the relationship between the financial system and economic development. They have uncovered some interesting facts regarding the characteristics of the financial system - characteristics that contribute to the best possible allocation of savings to productive investments, which are themselves engines of economic growth. Content Type(s): Press, Speeches and appearances, Remarks
The Outlook for the Global Supply of Oil: Running on Faith? Staff Discussion Paper 2009-9 Olivier Gervais, Ilan Kolet The dramatic reduction in global demand, and the decline in the spot price of crude oil in the second half of last year, may have significant implications for the future supply of oil. Investments in conventional methods of extraction have been constrained, since easily accessible oil reserves are typically concentrated in countries with geopolitical uncertainty and/or state-run oil companies. Content Type(s): Staff research, Staff discussion papers Topic(s): Business fluctuations and cycles, Inflation and prices, International topics JEL Code(s): Q, Q4, Q41, Q43
December 17, 2008 Governor Carney discusses key risks to financial system, advocates for macroprudential approach Media Relations Toronto, Ontario While measures taken to address the global financial crisis will be successful, policy-makers need to improve their ability to detect the next crisis before it occurs, Bank of Canada Governor Mark Carney said today. Content Type(s): Press, Press releases
October 26, 2009 G-20 Reforms Will Support Long-Term Economic Prosperity, says Bank of Canada Governor Mark Carney Media Relations Montréal, Quebec "The fundamental objective of the G-20 reforms is to create a resilient, global financial system that efficiently supports worldwide economic growth," Governor Carney said in a speech today to the Autorité des marchés financiers. Content Type(s): Press, Press releases
September 10, 2009 Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010 Media Relations Ottawa, Ontario The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. Content Type(s): Press, Press releases
Assessing the Implementation of the IMF's 2007 Surveillance Decision Staff Discussion Paper 2009-6 Robert Lavigne, Garima Vasishtha The International Monetary Fund (IMF) recently adopted the "2007 Decision on Bilateral Surveillance Over Members' Policies," a landmark reform that modernizes the general principles of IMF surveillance. However, support for the reform was not unanimous, and doubts have been expressed about how the Decision would be applied in practice. The authors assess the first year […] Content Type(s): Staff research, Staff discussion papers Topic(s): International topics JEL Code(s): F, F3, F33