How Changes in Oil Prices Affect the Macroeconomy Staff Working Paper 2009-33 Brian DePratto, Carlos De Resende, Philipp Maier We estimate a New Keynesian general-equilibrium open economy model to examine how changes in oil prices affect the macroeconomy. Our model allows oil price changes to be transmitted through temporary demand and supply channels (affecting the output gap), as well as through persistent supply side effects (affecting trend growth). Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Interest rates, Monetary policy transmission, Potential output, Productivity JEL Code(s): F, F4, F41, Q, Q4, Q43
December 15, 2009 Bank of Canada welcomes initiative to improve infrastructure for Canadian-dollar core funding markets Media Relations Ottawa, Ontario Policies and initiatives that help keep core markets functioning continuously, including in times of stress, promote the overall safety and soundness of our financial system. Content Type(s): Press, Press releases
December 14, 2009 Liquidity Standards in a Macroprudential Context Financial System Review - December 2009 Carol Ann Northcott, Mark Zelmer Content Type(s): Publications, Financial System Review articles
December 14, 2009 Reform of Securitization Financial System Review - December 2009 Jack Selody, Elizabeth Woodman Content Type(s): Publications, Financial System Review articles
December 14, 2009 Towards a Stress-Testing Model Consistent with the Macroprudential Approach Financial System Review - December 2009 Céline Gauthier, Alfred Lehar, Moez Souissi Content Type(s): Publications, Financial System Review articles
December 14, 2009 Financial System Review - December 2009 Conditions in the international financial system have improved considerably since June in response to the forceful actions taken by policy-makers around the world.FSR Highlights - December 2009 Content Type(s): Publications, Financial Stability Report
December 8, 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
December 7, 2009 Results of the 7 December 2009 Term PRA Transaction The results of today's term PRA operations are as follows. Content Type(s): Press, Market notices
December 4, 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 20 October (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation as follows. Content Type(s): Press, Market notices