Contribution of ICT Use to Output and Labour-Productivity Growth in Canada Staff Working Paper 2002-7 Hashmat Khan, Marjorie Santos There is ample evidence that information and communication technologies (ICT) contributed significantly to the surge in output and labour-productivity growth in the United States in the late 1990s. Content Type(s): Staff research, Staff working papers Topic(s): Productivity JEL Code(s): O, O4, O5
February 20, 2002 Bank of Canada Governor reviews Canada's experience with inflation targets and a flexible exchange rate Media Relations New York, New York In a speech to the Canadian Society of New York, Bank of Canada Governor David Dodge said today that Canada's monetary policy framework, based on an explicit inflation-control target and a flexible exchange rate, "has contributed importantly to putting the Canadian economy back on the right path to longer-term prosperity." Content Type(s): Press, Press releases
February 20, 2002 Canada's Experience with Inflation Targets and a Flexible Exchange Rate: Lessons Learned Remarks David Dodge Canadian Society of New York New York, New York The Canadian economy has undergone a dramatic transformation over the past decade. And it has emerged as a low-inflation economy, with declining levels of public and foreign debt and a private sector that is more cost-conscious, productive, and efficient, thanks to restructuring and investments in new technology. Content Type(s): Press, Speeches and appearances, Remarks
Currency Fluctuations, Liability Dollarization, and the Choice of Exchange Rate Regimes in Emerging Markets Staff Working Paper 2002-6 Patrick Osakwe Traditional models of exchange rate regimes ignore the destabilizing effects of sharp and unanticipated exchange rate movements. Content Type(s): Staff research, Staff working papers Topic(s): Exchange rate regimes JEL Code(s): E, E5, E52, F, F3, F31, F4, F41
The Effects of Bank Consolidation on Risk Capital Allocation and Market Liquidity Staff Working Paper 2002-5 Chris D'Souza, Alexandra Lai This paper investigates the effects of financial market consolidation on risk capital allocation in a financial institution and the implications for market liquidity in dealership markets. We show that an increase in financial market consolidation can have ambiguous effects on liquidity in foreign exchange and government securities markets. Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial markets JEL Code(s): G, G2, G28, G3, G31, G34
Does Micro Evidence Support the Wage Phillips Curve in Canada? Staff Working Paper 2002-4 Jean Farès The existing macroeconometric evidence lends support to the wage Phillips curve by showing a negative relation between the rate of change in wages and the unemployment rate, conditional on lagged price inflation. Most theoretical models of wage setting, however, generate a "wage curve," described by a negative relation between the level of the real wage and unemployment. Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices JEL Code(s): J, J3, J31
January 31, 2002 Bank of Canada's outlook for the Canadian economy Remarks David Dodge Meeting in New York with Canadian banks and the investment community The immediate impact and the fallout from last September's events introduced new layers of uncertainty into the economic picture, compounding the effects of a deepening global economic slowdown that had become more evident during the summer. Content Type(s): Press, Speeches and appearances, Remarks
January 29, 2002 Bank of Canada Governor reviews success of inflation targets Media Relations Saskatoon, Saskatchewan In a speech to the Saskatoon and District Chamber of Commerce, Bank of Canada Governor David Dodge said today that Canada's inflation-targeting system has led to many benefits for the Canadian economy. The Governor detailed those benefits, which were confirmed when the Bank and the Government of Canada renewed their inflation-control agreement last year. Content Type(s): Press, Press releases
January 29, 2002 Inflation Targeting During a Difficult Year Remarks David Dodge Saskatoon and District Chamber of Commerce Saskatoon, Saskatchewan One of the main benefits of the targets is that they help the economy to run more smoothly when there are surprises in the level of demand for Canadian goods and services. Content Type(s): Press, Speeches and appearances, Remarks
January 28, 2002 Bank of Canada Governor reviews key developments of last year Media Relations Winnipeg, Manitoba The Governor highlighted the global slowdown as the major economic challenge of the past year. But he said that there were also key changes within the Bank of Canada related to the implementation of monetary policy. In particular, he spoke of the success of the Bank's new system of eight fixed dates per year for announcing interest rate decisions. He also set out in detail the process that leads to those decisions. Content Type(s): Press, Press releases