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3036 Results

Expectations and Monetary Policy: Experimental Evidence

Staff Working Paper 2013-44 Oleksiy Kryvtsov, Luba Petersen
The effectiveness of monetary policy depends, to a large extent, on market expectations of its future actions. In a standard New Keynesian business-cycle model with rational expectations, systematic monetary policy reduces the variance of inflation and the output gap by at least two-thirds.

Potential output and the neutral rate in Canada: 2021 update

We expect potential output growth to be higher than in the October 2020 reassessment. By 2024, growth will be slightly above its average growth from 2010 to 2019. We assess that the Canadian nominal neutral rate continues to lie in the range of 1.75 to 2.75 percent.

Government of Canada Securities in the Cash, Repo and Securities Lending Markets

Staff Discussion Paper 2018-4 Narayan Bulusu, Sermin Gungor
This paper documents the properties of Government of Canada securities in cash, repo and securities lending transactions over their life cycle. By tracking every security from issuance to maturity, we are able to highlight inter-linkages between the markets for cash and for specific securities.
Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial markets, Wholesale funding JEL Code(s): G, G1, G12, G2, G21, G23
August 25, 2020

Perceived inflation and reality: understanding the difference

Remarks (delivered virtually) Lawrence L. Schembri Canadian Association for Business Economics Kingston, Ontario
In a virtual address to the Canadian Association for Business Economics, Deputy Governor Lawrence Schembri discusses the difference between how Canadians perceive inflation and the actual measured rate. He explains why that gap may exist and what it could mean for monetary policy and the economy.

Heterogeneity and Monetary Policy: A Thematic Review

The theory that rich economic diversity of businesses and households both affects and is shaped by economy-wide fluctuations has strong implications for monetary policy. This review places these insights in a Canadian context.
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