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Constraints on the Conduct of Canadian Monetary Policy in 1990s: Dealing with Uncertainty in Financial Markets.
Clinton, K.; Zelmer, M. - Bank of Canada - 1997
This report presents a simple theorretical model that shows the quantitative impact of the increased interest rate premiums on economic performance. Some evidence is presented that suggests high Canadian interest rate premiums were an important factor explaining the general weakness of economic...
Persistent link: https://www.econbiz.de/10005808257
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The Neutral Rate of Interest in Canada
Mendes, Rhys R. - Bank of Canada - 2014
rate as the real policy rate consistent with output at its potential level and inflation equal to target after the effects … rate below neutral will be required to maintain inflation sustainably at target. …
Persistent link: https://www.econbiz.de/10010960403
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Emerging Asia's Impact on Food and Oil Prices: A Model-Based Analysis
Lalonde, René; Maier, Philipp; Muir, Dirk - Bank of Canada - 2009
markets react to inflation by revaluing their exchange rates by 10 per cent. This affects the outlook for commodities only …
Persistent link: https://www.econbiz.de/10005808267
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Resurrecting the role of real money balance effects
Dorich, José - 2009
inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively …
Persistent link: https://www.econbiz.de/10003933293
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Core inflation
Hogan, Seamus D.; Johnson, Marianne F.; Laflèche, Thérèse - 2001
Persistent link: https://www.econbiz.de/10001555173
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Some thoughts on price stability versus zero inflation
Duguay, Pierre - 1994
Persistent link: https://www.econbiz.de/10000964358
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ToTEM II: An Updated Version of the Bank of Canada’s Quarterly Projection Model
Dorich, José; Johnston, Michael K.; Mendes, Rhys R.; … - Bank of Canada - 2013
This report provides a detailed technical description of an updated version of the Terms-of-Trade Economic Model (ToTEM II), which replaced ToTEM (Murchison and Rennison 2006) in June 2011 as the Bank of Canada’s quarterly projection model for Canada. ToTEM has been improved along a number of...
Persistent link: https://www.econbiz.de/10010849975
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Uncertainty, Inflation, and Welfare
Chiu, Jonathan; Molico, Miguel - Bank of Canada - 2008
This paper studies the welfare costs and the redistributive effects of inflation in the presence of idiosyncratic … money demand and the distribution of money holdings across households, and study the effects of inflation under the implied … inflation are on average 40% smaller compared to a complete markets, representative agent economy, and that inflation induces …
Persistent link: https://www.econbiz.de/10005220953
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Macroprudential Rules and Monetary Policy when Financial Frictions Matter
Bailliu, Jeannine; Meh, Césaire; Zhang, Yahong - Bank of Canada - 2012
This paper examines the interaction between monetary policy and macroprudential policy and whether policy makers should respond to financial imbalances. To address this issue, we build a dynamic general equilibrium model that features financial market frictions and financial shocks as well as...
Persistent link: https://www.econbiz.de/10009651312
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Estimating the Demand for Settlement Balances in the Canadian Large Value Transfer System
Zhang, Nellie - Bank of Canada - 2012
This paper applies a static model of an interest rate corridor to the Canadian data, and estimates the aggregate demand for central-bank settlement balances in the Large Value Transfer System (LVTS). The empirical specification controls for various calendar effects that have been shown to cause...
Persistent link: https://www.econbiz.de/10010550572