Technical Reports

• The Regulation of Central Securities Depositories and the Linkages between CSDs and Large-Value Payment Systems

  Technical Report No. 87 Charles Freedman

  This paper first describes the Bank of Canada's approach to the design of large-value clearing and settlement systems. It then examines the way the Bank has operated under the Payment Clearing and Settlement Act, passed by Parliament in July 1996.

  Content Type(s): Staff research, Technical reports Topic(s): Payment clearing and settlement systems JEL Code(s): G, G2, G20

• Greater Transparency in Monetary Policy: Impact on Financial Markets

  Technical Report No. 86 Philippe Muller, Mark Zelmer

  Measures have been taken by the Bank of Canada to increase the transparency of Canadian monetary policy. This paper examines whether the greater transparency has improved financial markets' understanding of the conduct of monetary policy.

  Content Type(s): Staff research, Technical reports Topic(s): Financial markets, Monetary policy implementation JEL Code(s): E, E5, E52, E58, G, G1, G14

• Inflation Targeting under Uncertainty

  Technical Report No. 85 Gabriel Srour

  This paper studies the implications of certain kinds of uncertainty for monetary policy. It first describes the optimum policy rule in a simple model of the transmission mechanism as in Ball and Svensson.

  Content Type(s): Staff research, Technical reports Topic(s): Monetary policy and uncertainty, Monetary policy framework JEL Code(s): E, E5, E52

• Yield Curve Modelling at the Bank of Canada

  Technical Report No. 84 David Bolder, David Stréliski

  The primary objective of this paper is to produce a framework that could be used to construct a historical data base of zero-coupon and forward yield curves estimated from Government of Canada securities' prices.

  Content Type(s): Staff research, Technical reports Topic(s): Economic models