Yield Curve Modelling at the Bank of Canada PDF Download

Author: David Bolder
Publisher:
ISBN: 9780662276029
Category : Government securities
Languages : en
Pages : 70

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Author:
Publisher:
ISBN:
Category : Canada
Languages : en
Pages : 154

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Author: Richard Black (Economist.)
Publisher:
ISBN:
Category : Canada
Languages : en
Pages : 114

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Author: Mr.Jaromir Benes
Publisher: International Monetary Fund
ISBN: 1475578709
Category : Business & Economics
Languages : en
Pages : 41

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This paper outlines the key features of the production version of the quarterly projection model (QPM), which is a forward-looking open-economy gap model, calibrated to represent the Indian case, for generating forecasts and risk assessment as well as conducting policy analysis. QPM incorporates several India-specific features like the importance of the agricultural sector and food prices in the inflation process; features of monetary policy transmission and implications of an endogenous credibility process for monetary policy formulation. The paper also describes key properties and historical decompositions of some important macroeconomic variables.

Author: Ms.Brenda Gonzalez-Hermosillo
Publisher: International Monetary Fund
ISBN: 1451858469
Category : Business & Economics
Languages : en
Pages : 20

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In recent years the Bank of Canada has made important changes in the way it conducts monetary policy. In particular, the bank has adopted explicit inflation targets and introduced significant changes to its operational framework designed to increase transparency and reduce market uncertainty. This paper examines the key issues associated with the recent changes in the Bank of Canada’s monetary policy framework and analyzes various indicators of central bank credibility.

Author: John Armstrong
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 50

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In this report, we describe methods for solving economic models when expectations are presumed to have at least some element of consistency with the predictions of the model itself. We present analytical results that establish the convergence properties of alternative solution procedures for linear models with unique solutions. We discuss briefly the extension of our convergence results to applications with non-linear models, but the strong analytical conclusions for linear systems do not necessarily carry over to non-linear systems. We illustrate the analytical discussion and provide some evidence on comparative solution times and on the robustness of the procedures, using simulations of a simple, linear model of a hypothetical economy and of two much larger, non-linear models of the Canadian economy developed at the Bank of Canada.

Author: Mr.Jaromir Benes
Publisher: International Monetary Fund
ISBN: 1475584229
Category : Business & Economics
Languages : en
Pages : 41

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Book Description
This paper outlines the key features of the production version of the quarterly projection model (QPM), which is a forward-looking open-economy gap model, calibrated to represent the Indian case, for generating forecasts and risk assessment as well as conducting policy analysis. QPM incorporates several India-specific features like the importance of the agricultural sector and food prices in the inflation process; features of monetary policy transmission and implications of an endogenous credibility process for monetary policy formulation. The paper also describes key properties and historical decompositions of some important macroeconomic variables.

Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
ISBN: 1498321119
Category : Business & Economics
Languages : en
Pages : 85

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Book Description
This Financial System Stability Assessment paper discusses that Canada has enjoyed favorable macroeconomic outcomes over the past decades, and its vibrant financial system continues to grow robustly. However, macrofinancial vulnerabilities—notably, elevated household debt and housing market imbalances—remain substantial, posing financial stability concerns. Various parts of the financial system are directly exposed to the housing market and/or linked through housing finance. The financial system would be able to manage severe macrofinancial shocks. Major deposit-taking institutions would remain resilient, but mortgage insurers would need additional capital in a severe adverse scenario. Housing finance is broadly resilient, notwithstanding some weaknesses in the small non-prime mortgage lending segment. Although banks’ overall capital buffers are adequate, additional required capital for mortgage exposures, along with measures to increase risk-based differentiation in mortgage pricing, would be desirable. This would help ensure adequate through-the cycle buffers, improve mortgage risk-pricing, and limit procyclical effects induced by housing market corrections.

Author: Graham Smart
Publisher: Studies in Language and Commun
ISBN: 9781845530662
Category : Business & Economics
Languages : en
Pages : 260

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Book Description
In recent years the economic policies of major financial institutions such as the European Union Central Bank, the U.S. Federal Reserve, and the International Monetary Fund have received growing media attention, reflecting increased public awareness of the impact of these institutions on the global economy and, more immediately, on the material conditions of our everyday lives. Writing the Economy: Activity, Genre and Technology in the World of Banking takes readers into one such site, the Bank of Canada, that country's central bank and monetary-policy authority. Drawing on qualitative data gathered over two decades (1984-2004) and employing theories of activity, genre, narrative, and situated learning, the book provides an ethnographic account of the role of technology-mediated discourse in the Bank's knowledge-building, policy-making, and public communication. The first part of the book describes how the Bank's economists employ a set of written and oral discourse genres in combination with computer-run economic models to create specialized knowledge about the Canadian economy that is applied by the organization's senior decision-makers in directing national monetary policy. The book then examines the economists' use of another set of technology-mediated discourse genres to orchestrate the Bank's external communications with government, the media, the business sector, financial markets, labour, and academia. The book also explores the way in which the economists' discourse practices facilitate individual and organizational learning. In a foreword, Charles Bazerman describes the book's contribution to our understanding of organizational discourse and knowledge-making, situating this contribution in the study of economic rhetoric and the social formation of economy.

Author: Peter B. Dixon
Publisher: Newnes
ISBN: 0444595686
Category : Business & Economics
Languages : en
Pages : 1886

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Book Description
Top scholars synthesize and analyze scholarship on this widely used tool of policy analysis in 27 articles, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top U.S. graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. Presents coherent summaries of CGE theories that inform major model types Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results Shows how CGE modeling has made a contribution to economic policy