Introducing the Bank of Canada staff economic projections database

2019 ◽  
Vol 35 (1) ◽  
pp. 114-129
Author(s):  
Julien Champagne ◽  
Guillaume Poulin‐Bellisle ◽  
Rodrigo Sekkel
Keyword(s):  
Bank Of Canada

scholarly journals Identifying a policymaker's target: an application to the Bank of Canada

2002 ◽  
Vol 35 (2) ◽  
pp. 239-256 ◽  
Author(s):  
Nicholas Rowe ◽  
James Yetman
Keyword(s):  
Bank Of Canada

National Bank of Canada

2004 ◽  
Vol 1 (3) ◽  
pp. 323-323
Keyword(s):  
Bank Of Canada ◽  
National Bank

Royal Bank of Canada (Montreal, Quebec)

2005 ◽  
Vol 2 (1) ◽  
pp. 326-326
Keyword(s):  
Bank Of Canada

scholarly journals “WAIT-AND-SEE” MONETARY POLICY

2017 ◽  
Vol 23 (5) ◽  
pp. 1793-1814 ◽  
Author(s):  
Xiaowen Lei ◽  
Michael C. Tseng
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Interest Rates ◽  
Taylor Rule ◽  
Adjustment Costs ◽  
Optimal Timing ◽  
Bank Of Canada ◽  
Wait And See ◽  
The Interest Rate ◽  
Better Than

This paper develops a model of the optimal timing of interest rate changes. With fixed adjustment costs and ongoing uncertainty, changing the interest rate involves the exercise of an option. Optimal policy therefore has a “wait-and-see” component, which can be quantified using option pricing techniques. We show that increased uncertainty makes the central bank more reluctant to change its target interest rate, and argue that this helps explain recent observed deviations from the Taylor Rule. An optimal wait-and-see policy fits the target interest rates of the Fed and Bank of Canada better than the Taylor Rule.

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