Showing 1 - 10 of 384
I construct a weekly measure of real economic activity in Canada. Based on the work of Aruoba et al. (2009), the …
Persistent link: https://www.econbiz.de/10010204815
measures show that uncertainty decreased following the most important policy actions taken by the Bank of Canada as a response … that, on average, uncertainty decreases following the Bank of Canada's policy rate announcements. Furthermore, our measures …
Persistent link: https://www.econbiz.de/10010194492
This paper predicts phases of the financial cycle by using a continuous financial stress measure in a Markov switching framework. The debt service ratio and property market variables signal a transition to a high financial stress regime, while economic sentiment indicators provide signals for a...
Persistent link: https://www.econbiz.de/10011697685
We use narrative evidence along with a novel database of real-time data and forecasts from the Bank of Canada's staff … monetary policy in Canada. We show that it is crucial to take into account the break in the conduct of monetary policy caused …
Persistent link: https://www.econbiz.de/10011777945
This paper examines empirically the impact of financial stress on the transmission of monetary policy shocks in Canada …
Persistent link: https://www.econbiz.de/10003981316
consumer price index has declined in Canada since the early 1980s and is currently close to zero. Taylor (2000) suggests that … due to a change in the parameters of the central bank's policy rule. Evidence is presented for Canada indicating that … suggest that increases in the aggressiveness of policy consistent with that observed for Canada are sufficient to effectively …
Persistent link: https://www.econbiz.de/10003933342
This paper uses a small-open economy model for the Canadian economy to examine the optimal Taylor-type monetary policy rule that stabilizes output and inflation in an environment where endogenous boom-bust cycles in house prices can occur. The model shows that boom-bust cycles in house prices...
Persistent link: https://www.econbiz.de/10003933360
output gap), as well as through persistent supply side effects (affecting trend growth). We estimate this model for Canada …
Persistent link: https://www.econbiz.de/10003933367
multiple dimensions. With key parameters of the model estimated using data from an inflation targeting economy, namely Canada …
Persistent link: https://www.econbiz.de/10003951230
This paper empirically assesses the effectiveness of the Bank of Canada's term Purchase and Resale Agreement (PRA … announcements, since other concurrent events (including other announcements by the Bank of Canada) may have also contributed to a …
Persistent link: https://www.econbiz.de/10003996872