The Demand for Money in a Stochastic Environment Staff Working Paper 2004-7 Joseph Atta-Mensah The author re-examines the demand-for-money theory in an intertemporal optimization model. The demand for real money balances is derived to be a function of real income and the rates of return of all financial assets traded in the economy. Content Type(s): Staff research, Staff working papers Topic(s): Monetary aggregates JEL Code(s): E, E4, E41, E5, E50, G, G1, G11
February 17, 2004 Good Policies Speed up Economic Adjustment, Says Governor Dodge Media Relations Mexico City, Mexico The right set of macroeconomic policies helps countries to adjust to changing economic circumstances, David Dodge, Governor of the Bank of Canada, told a business audience today in Mexico City. Content Type(s): Press, Press releases
February 17, 2004 Policies for Changing Times Remarks David Dodge Mexican Business Coordinating Council Mexico City, Mexico We both share borders with the United States, the most important export market for each of us. Both Canada and Mexico have recently faced setbacks in cross-border trade with the United States. These stem not only from weaker U.S. domestic demand, but also from specific trade problems and from border-crossing delays associated with tighter security. Content Type(s): Press, Speeches and appearances, Remarks
February 11, 2004 Governor Dodge Discusses Need to Adjust to Changing Economic World Media Relations Montréal, Quebec Speaking to the Board of Trade of Metropolitan Montréal today, Bank of Canada Governor David Dodge talked about the longer-term trends and the challenges facing the Canadian economy in the years ahead, and the adjustments that will be necessary to meet those challenges. Content Type(s): Press, Press releases
February 11, 2004 Adjusting to a Changing Economic World Remarks David Dodge Board of Trade of Metropolitan Montréal Montréal, Quebec These are turbulent times, not just for business people, but for all Canadians. We have come through a very difficult year, a year filled with surprises that have challenged us all. At times like these, it is easy to focus on the near-term issues and problems. Content Type(s): Press, Speeches and appearances, Remarks
February 9, 2004 Statement by Bank of Canada Governor David Dodge on the passing of former Governor, Gerald Bouey Media Relations "We are saddened by the passing on Friday of a great friend, former Bank of Canada Governor, Gerald Bouey. Gerry Bouey had a long and remarkable career at the Bank. He was a distinguished and highly respected Bank of Canada Governor, not only in this country but internationally as well. His outstanding leadership as Governor […] Content Type(s): Press, Press releases
Bank Capital, Agency Costs, and Monetary Policy Staff Working Paper 2004-6 Césaire Meh, Kevin Moran Evidence suggests that banks, like firms, face financial frictions when raising funds. Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Financial institutions, Monetary policy transmission JEL Code(s): E, E4, E44, E5, E52, G, G2, G21
Structural Change and Forecasting Long-Run Energy Prices Staff Working Paper 2004-5 Jean-Thomas Bernard, Lynda Khalaf, Maral Kichian The authors test the statistical significance of Pindyck's (1999) suggested class of econometric equations that model the behaviour of long-run real energy prices. Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods JEL Code(s): C, C2, C22, C5, C52, C53, Q, Q4, Q40
A Structural Small Open-Economy Model for Canada Staff Working Paper 2004-4 Stephen Murchison, Andrew Rennison, Zhenhua Zhu The authors develop a small open-economy dynamic stochastic general-equilibrium (DSGE) model in an attempt to understand the dynamic relationships in Canadian macroeconomic data. Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Economic models, Inflation and prices JEL Code(s): E, E2, E3, E5, E52
Modélisation « PAC » du secteur extérieur de l'économie américaine Staff Working Paper 2004-3 Marc-André Gosselin, René Lalonde In this paper, the authors use polynomial adjustment cost (PAC) models to analyze and forecast the main components of the U.S. trade sector. Content Type(s): Staff research, Staff working papers Topic(s): Domestic demand and components, Econometric and statistical methods, International topics JEL Code(s): C, C3, C32, E, E3, E37, F, F4, F47