The Resolution of International Financial Crises: Private Finance and Public Funds Staff Working Paper 2001-20 Andy Haldane, Mark Kruger Over the past year and a half, the Bank of England and the Bank of Canada have been developing a framework for the resolution of international financial crises that aligns incentives for all parties to deal with a crisis and preserve the integrity of the international financial system. The framework is built on principles, not rules. Content Type(s): Staff research, Staff working papers Topic(s): International topics JEL Code(s): F, F3, F34, F4, F42
Employment Effects of Restructuring in the Public Sector in North America Staff Working Paper 2001-19 Paul Fenton, Irene Ip, Geoff Wright This paper examines whether restructuring in the public sector contributed to the slower cyclical recovery in Canada than in the United States during the 1990s. Changes in public sector employment are used to investigate this question. Content Type(s): Staff research, Staff working papers Topic(s): Labour markets JEL Code(s): J, J4, J45
Evaluating Factor Models: An Application to Forecasting Inflation in Canada Staff Working Paper 2001-18 Marc-André Gosselin, Greg Tkacz This paper evaluates the forecasting performance of factor models for Canadian inflation. This type of model was introduced and examined by Stock and Watson (1999a), who have shown that it is quite promising for forecasting U.S. inflation. Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Inflation and prices JEL Code(s): C, C3, C32, E, E3, E37
October 24, 2001 Bank of Canada Governor focuses on current and future economic challenges for Canada Media Relations Moncton, New Brunswick As we all strive to come to terms with this tragedy and its implications, it is understandable that our immediate preoccupation is with near-term issues, he said. Nonetheless, it is "critically important that we maintain a sense of perspective - that we step back and look past current developments, focusing also on the longer-term trends in our economy and its potential." Content Type(s): Press, Press releases
October 24, 2001 The Canadian Economy: Current and Future Challenges Remarks David Dodge Greater Moncton Chamber of Commerce and the Conseil économique du Nouveau-Brunswick Moncton, New Brunswick All of us at the Bank of Canada share a deep sorrow at the loss of so many lives in the 11 September terrorist attacks in the United States. Among those who died were innocent citizens of many nationalities, including Canadians. To their families, friends, and colleagues we extend our heartfelt sympathy. Content Type(s): Press, Speeches and appearances, Remarks
October 23, 2001 Bank of Canada lowers key policy interest rate by 3/4 percentage point to 2 3/4 per cent Media Relations Ottawa, Ontario The Bank of Canada today announced that it is lowering its target for the overnight rate* by three-quarters of one percentage point to 2 3/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3 per cent. Content Type(s): Press, Press releases
October 22, 2001 Terms and Conditions for the Expanded Bank of Canada Collateral List Effective 1 November 2001 In July 2001, the Bank announced its intention to expand the list of collateral eligible for use in the Large Value Transfer System (LVTS), for loans made to direct participants in LVTS and the Automated Clearing Settlement System (ACSS), and to secure bank note withdrawals. Effective 1 November 2001, the list of eligible collateral will be expanded and will comprise the following: Content Type(s): Press, Market notices
October 9, 2001 Survey of foreign exchange and derivatives market activity in Canada Media Relations Ottawa, Ontario Summary results of a survey of activity in Canadian foreign exchange and derivatives markets conducted by the Bank of Canada in April 2001 are now available. Similar surveys were undertaken in over 45 other countries during the same month, and the central banks of many of those countries are also releasing their results today. Content Type(s): Press, Press releases
October 4, 2001 Debt Management Operational Enhancements A key federal debt strategy objective is maintaining a well-functioning market in Government of Canada securities. In keeping with the government's commitment to market consultations in domestic debt management issues, in August 2001 consultations were held with market participants on potential operational enhancements. Content Type(s): Press, Market notices
October 4, 2001 Market Consultations, Summer 2002: Summary of Comments Summary Overall, market participants have a positive view of the consultation process and the debt program initiatives that the government has undertaken in recent years, in particular supporting new bond issuance through buybacks. Market participants understand that a trade-off exists between supporting a large new issuance program through buybacks and maintaining adequate liquidity in large […]