Estimating and Comparing the Implied Cost of Equity for Canadian and U.S. Firms Staff Working Paper 2007-48 Jonathan Witmer, Lorie Zorn This paper estimates the implied cost of equity for Canadian and U.S. firms using a methodology based on the dividend discount model and utilizing firms' current stock price and analysts' forecasted earnings. Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, International topics JEL Code(s): G, G3, G30, G38
August 27, 2007 The Bank of Canada's Research Agenda and the Future of Inflation Targeting Remarks Pierre Duguay Canadian Association for Business Economics Kingston, Ontario The last few weeks have been a time of turbulence in financial markets. In times such as these, it is common for people to focus on day-by-day or even hour-by-hour events, and to lose sight of the future. But tonight, I want to focus on the future; specifically, the future of inflation targeting in Canada. Content Type(s): Press, Speeches and appearances, Remarks
August 23, 2007 Bank of Canada Announces the Recipients of its 2007 Law Enforcement Award of Excellence for Counterfeit Deterrence Media Relations Ottawa, Ontario The Bank of Canada is pleased to announce the recipients of its 2007 Law Enforcement Award of Excellence for Counterfeit Deterrence. Content Type(s): Press, Press releases
August 22, 2007 Bank of Canada Announces Appointment of Special Adviser Media Relations Ottawa, Ontario The Special Adviser position was created to bring additional perspectives to monetary policy discussions. Content Type(s): Press, Press releases
August 21, 2007 Bank of Canada sees joint commitment by major Bank CEOs on bank-sponsored asset-backed commercial paper (ABCP) as positive step Media Relations Ottawa, Ontario The Bank of Canada continues to monitor the functioning of Canada's financial markets and to make liquidity available as required. The commitment by Canada's major bank CEO's to work together to support the performance and liquidity of the market for bank-sponsored asset-backed commercial paper (ABCP) is a further positive step to help re-establish well functioning […] Content Type(s): Press, Press releases
Price-Level Targeting Staff Discussion Paper 2007-8 Agathe Côté In November 2006, the Bank of Canada announced its intention to lead a concerted research program over the next few years on the type of monetary policy framework that would best contribute to the economic well-being of Canadians in the decades ahead. The research will focus on two broad questions: whether economic welfare might be […] Content Type(s): Staff research, Staff discussion papers Topic(s): Monetary policy framework JEL Code(s): E, E5, E52, E58
August 16, 2007 Bank of Canada welcomes initiatives to support the functioning of financial markets in Canada Media Relations Ottawa, Ontario The Bank of Canada welcomes the initiatives announced today to support the asset-backed commercial paper market in Canada. Content Type(s): Press, Press releases
August 15, 2007 Bank of Canada Temporarily Expands List of Collateral Eligible for SPRA Transactions Media Relations Ottawa, Ontario As part of its continuing provision of liquidity in support of the efficient functioning of financial markets, the Bank of Canada announced today that it is temporarily expanding the list of collateral eligible for use by market participants in Special Purchase and Resale Agreements (SPRAs). Content Type(s): Press, Press releases
A Note on Contestability in the Canadian Banking Industry Staff Discussion Paper 2007-7 Jason Allen, Ying Liu The authors examine the degree of contestability in the Canadian banking system using the H-statistic proposed by Panzar and Rosse (1987) and modified by Bikker, Spierdijk, and Finnie (2006). A modification is necessary because the standard approach of controlling for size using total assets leads to an upward bias in the H-statistic. The authors propose […] Content Type(s): Staff research, Staff discussion papers Topic(s): Financial institutions JEL Code(s): G, G2, G21, L, L1, L11
August 9, 2007 Bank of Canada issues statement on provision of liquidity to support the stability and efficient function of financial markets Media Relations Ottawa, Ontario In light of current market conditions, the Bank of Canada would like to assure financial market participants and the public that it will provide liquidity to support the stability of the Canadian financial system and the continued functioning of financial markets. Content Type(s): Press, Press releases