ElasticSearch Score: 8.089385
May 15, 1995
This is the first in a series of semi-annual reports by the Bank of Canada on Canadian monetary policy.
ElasticSearch Score: 8.070741
November 20, 1996
This Report outlines recent developments in the Canadian economy that affect the rate of inflation and provides an account of the measures taken by the Bank of Canada to control inflation.
ElasticSearch Score: 8.034509
January 30, 2003
In the year just ended, the global economy faced a number of exceptional challenges, reflecting a wide range of economic, financial, and geopolitical risks and uncertainties. These included the fallout from the September 2001 terrorist attacks, corporate accounting scandals, stock market volatility, and developments in the Middle East. Despite this global backdrop, the Canadian economy outperformed virtually all other industrial economies, growing by about 3 1/4 per cent and creating 560,000 jobs, while inflation expectations remained well anchored to the Bank of Canada’s 2 per cent inflation-control target.
ElasticSearch Score: 7.9875894
Most models in finance assume that agents make trading plans over the infinite future. We consider instead that they are boundedly rational and may only form forecasts over a limited horizon.
ElasticSearch Score: 7.981264
The exponential family, relative entropy, and distortion are methods of transforming probability distributions. We establish a link between those methods, focusing on the relation between relative entropy and distortion.
ElasticSearch Score: 7.9649525
November 16, 1998
During the past six months, global economic uncertainties have intensified, largely as a result of developments in emerging-market economies.
ElasticSearch Score: 7.932504
We study the formation of price bubbles on experimental asset markets where cash earns interest. There are two main conclusions.
ElasticSearch Score: 7.9210587
How can policy-makers avoid large policy errors when they are uncertain about the true model of the economy?
ElasticSearch Score: 7.76678
We introduce behavioral learning equilibria (BLE) into DSGE models with boundedly rational agents using simple but optimal first order autoregressive forecasting rules. The Smets-Wouters DSGE model with BLE is estimated and fits well with inflation survey expectations. As a policy application, we show that learning requires a lower degree of interest rate smoothing.
ElasticSearch Score: 7.7559185
November 9, 2000
Over the last six months, most countries have continued to register strong economic growth.