Similar Search Results

Real Return Bonds, Inflation Expectations, and the Break-Even Inflation Rate

Christensen, Ian; Dion, Frédéric; Reid, Christopher - Bank of Canada - 2004

According to the Fisher hypothesis, the gap between Canadian nominal and Real Return Bond yields (or break-even inflation rate) should be a good measure of inflation expectations. The authors find that this measure was higher, on average, and more variable than survey measures of inflation...

Persistent link: https://www.econbiz.de/10005162538

A No-Arbitrage Analysis of Macroeconomic Determinants of Term Structures and the Exchange Rate<br>

Chabi-Yo, Fousseni; Yang, Jun - Bank of Canada - 2007

We study the joint dynamics of macroeconomic variables, bond yields, and the exchange rate in an empirical two-country New-Keynesian model complemented with a no-arbitrage term structure model. With Canadian and US data, we are able to study the impact of macroeconomic shocks from both countries...

Persistent link: https://www.econbiz.de/10005162497

Real and Nominal Frictions within the Firm: How Lumpy Investment Matters for Price Adjustment

Johnston, Michael K. - Bank of Canada - 2009

Real rigidities are an important feature of modern sticky price models and are policyrelevant because of their welfare consequences, but cannot be structurally identified from time series. I evaluate the plausibility of capital specificity as a source of real rigidities using a two-dimensional...

Persistent link: https://www.econbiz.de/10008502641

Improving Overnight Loan Identification in Payments Systems

Rempel, Mark - Bank of Canada - 2014

results suggest that the inferred prices and quantities of overnight loans do provide viable estimates of interbank lending …

Persistent link: https://www.econbiz.de/10010783634

Exchange Rate Pass-Through and the Inflation Environment in Industrialized Countries: An Empirical Investigation

Bailliu, Jeannine; Fujii, Eiji - Bank of Canada - 2004

monetary policy, results in a decline in the degree of pass-through of exchange rate movements to consumer prices. It differs …

Persistent link: https://www.econbiz.de/10005162449

The Welfare Implications of Fiscal Dominance

Resende, Carlos De; Rebei, Nooman - Bank of Canada - 2008

This paper studies the interdependence between fiscal and monetary policy in a DSGE model with sticky prices and non … measured by (1 - k), is positively related to trend inflation, and 2) when prices are sticky, k has significant effects on the …

Persistent link: https://www.econbiz.de/10005536893

Cross-Country Estimates of the Degree of Fiscal Dominance and Central Bank Independence

Resende, Carlos de - Bank of Canada - 2007

This paper studies the interdependence between fiscal and monetary policies, and their joint role in the determination of the price level ...

Persistent link: https://www.econbiz.de/10005673298

Does Financial Structure Matter for the Information Content of Financial Indicators?

Djoudad, Ramdane; Selody, Jack; Wilkins, Carolyn - Bank of Canada - 2005

financial variables for predicting real GDP growth and inflation. Their assumption is that financial asset prices will dominate … determine the predictive content of common financial asset prices and quantities for 29 countries. They find no systematic … pattern between financial structure and whether financial asset prices or quantities are the best financial indicators for …

Persistent link: https://www.econbiz.de/10005162456

Monetary Policy in Estimated Models of Small Open and Closed Economies

Dib, Ali - Bank of Canada - 2003

The author develops and estimates a quantitative dynamic-optimizing model of a small open economy (SOE) with domestic and import price stickiness and capital-adjustment costs. A monetary policy rule allows the central bank to systematically manage the short-term nominal interest rate in response...

Persistent link: https://www.econbiz.de/10005673321

Inflation Changes, Yield Spreads, and Threshold Effects

Tkacz, Greg - Bank of Canada - 2002

Persistent link: https://www.econbiz.de/10005673350

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