March 31, 2010
Posts
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March 29, 2010
Beyond Recovery: Sustaining Economic Growth
John Maynard Keynes said the objective of "analysis is … to provide ourselves with an organized and orderly method of thinking out particular problems .… This is the nature of economic thinking." -
March 24, 2010
The Virtue of Productivity in a Wicked World
It is either brave or foolhardy of the Ottawa Economics Association to organize another conference around Canada's perennial challenges of demographics, productivity, and potential growth. -
March 24, 2010
Two Imperatives to Secure Strong, Sustainable, and Balanced Economic Growth, Governor Mark Carney Says
While Canada is a country of immense strengths and considerable resilience, its economy is underperforming relative to its potential, Bank of Canada Governor Mark Carney said today in a speech to the Ottawa Economics Association. -
On the Advantages of Disaggregated Data: Insights from Forecasting the U.S. Economy in a Data-Rich Environment
The good forecasting performance of factor models has been well documented in the literature. While many studies focus on a very limited set of variables (typically GDP and inflation), this study evaluates forecasting performance at disaggregated levels to examine the source of the improved forecasting accuracy, relative to a simple autoregressive model. We use the latest revision of over 100 U.S. time series over the period 1974-2009 (monthly and quarterly data). -
Alternative Optimized Monetary Policy Rules in Multi-Sector Small Open Economies: The Role of Real Rigidities
Inflation-targeting central banks around the world often state their inflation objectives with regard to the consumer price index (CPI). Yet the literature on optimal monetary policy based on models with nominal rigidities and more than one sector suggests that CPI inflation is not always the best choice from a social welfare perspective. -
Market Expectations and Option Prices: Evidence for the Can$/US$ Exchange Rate
Security prices contain valuable information that can be used to make a wide variety of economic decisions. To extract this information, a model is required that relates market prices to the desired information, and that ideally can be implemented using timely and low-cost methods. -
March 15, 2010
Results of the 15 March 2010 Term PRA Transaction
The results of today's term PRA operations. -
March 15, 2010
Bank of Canada Announces Recipients of 2010 Fellowship and Governor's Awards
The Bank of Canada today announced that Professor Paul Beaudry of the University of British Columbia is the recipient of the Bank's Research Fellowship for 2010. -
March 12, 2010
Bank of Canada Announces Details of its Term PRA Operation
In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 19 January (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation.