The Canadian Macroeconomy and the Yield Curve: An Equilibrium-Based Approach Staff Working Paper 2005-36 René Garcia, Richard Luger The authors develop and estimate an equilibrium-based model of the Canadian term structure of interest rates. Content Type(s): Staff research, Staff working papers Topic(s): Interest rates JEL Code(s): E, E4, E43, E44, E47, E5, E52
Testing the Parametric Specification of the Diffusion Function in a Diffusion Process Staff Working Paper 2005-35 Fuchun Li A new consistent test is proposed for the parametric specification of the diffusion function in a diffusion process without any restrictions on the functional form of the drift function. Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Interest rates JEL Code(s): C, C1, C12, C14
The Exchange Rate and Canadian Inflation Targeting Staff Working Paper 2005-34 Christopher Ragan The author provides a non-technical explanation of the role played by the exchange rate in Canada's inflation-targeting monetary policy. Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates, Inflation targets, Monetary policy implementation JEL Code(s): E, E5, E50, E52, F, F4, F41
Does Financial Structure Matter for the Information Content of Financial Indicators? Staff Working Paper 2005-33 Ramdane Djoudad, Jack Selody, Carolyn A. Wilkins Of particular concern to monetary policy-makers is the considerable unreliability of financial variables for predicting GDP growth and inflation. Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Credit and credit aggregates, Inflation and prices, Interest rates, Monetary aggregates JEL Code(s): E, E3, E31, E32
Degree of Internationalization and Performance: An Analysis of Canadian Banks Staff Working Paper 2005-32 Walid Hejazi, Eric Santor The international business literature measures the link between the degree of internationalization (DOI) of a firm's activities and its performance. Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions JEL Code(s): F, F2, F23, G, G2, G21
Forecasting Canadian GDP: Region-Specific versus Countrywide Information Staff Working Paper 2005-31 Frédérick Demers, David Dupuis The authors investigate whether the aggregation of region-specific forecasts improves upon the direct forecasting of Canadian GDP growth. Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods JEL Code(s): C, C3, C32, C5, C53, E, E1, E17
October 28, 2005 Debt Strategy Consultations 2006/07 Views Sought on Issues Relating to the Government Domestic Bond Program in 2006/07 and Beyond A consultation document on issues relating to the design and structure of the government's domestic bond program for the fiscal year 2006/07 and beyond, prepared jointly by the Department of Finance and the Bank of Canada, is being made public today. Content Type(s): Press, Market notices
October 28, 2005 Debt Strategy 2006/07 Consultation Document The Department of Finance, in conjunction with the Bank of Canada, is seeking views of government securities distributors, institutional investors, and other interested parties on adjustments to the Government of Canada bond program for fiscal year 2006/07 and beyond.
October 27, 2005 Modifications to the Terms of Participation and the Standard Terms for Government of Canada Auctions The revised Terms of Participation and the Standard Terms for Government of Canada Auctions, prepared jointly by the Department of Finance and the Bank of Canada on behalf of the Government of Canada, are being published today. Content Type(s): Press, Market notices
October 26, 2005 Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce Opening statement David Dodge Standing Senate Committee on Banking, Trade and Commerce When Paul and I appeared before this Committee last April, we said that the economy appeared to be operating slightly below its production capacity, and that we expected it to move back to full capacity in the second half of 2006. In our October Monetary Policy Report, which we published last Thursday, we said that economic growth in the first half of the year was somewhat stronger than we had previously expected. Indeed, the global and Canadian economies have continued to grow at a solid pace, and our economy now appears to be operating at full production capacity. Content Type(s): Press, Speeches and appearances, Opening statements