The Canadian market-determined bank rate and the bilateral Canada/US spot exchange rate
Article Abstract:
The news approach to exchange-rate modelling is tested by examining the impact of the weekly market-determined bank rate of the Bank of Canada on the bilateral exchange rate of the Canada/US dollar. The 91-day Treasury bill yield is used in the modelling of the innovations, the unanticipated component in the market-determined bank rate. Results show that the impact of the innovations of the bank rate on the bilateral spot rate depends on market perception of the monetary policy regime in which the central bank is operating.
Publication Name: Journal of Economic Studies
Subject: Economics
ISSN: 0144-3585
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
A note on the distribution of BDS statistics for a real exchange rate series
Article Abstract:
The degree of distortion of the BDS statistics from N(0,1), where N equals the end of a time series, for a real exchange rate series fitted with a GARCH model is analyzed. Consecutive daily closing rates of the French Franc: German Mark exchange rate are used as data. Results show that inferential errors may occur when the critical points of the standard normal distribution are used during the assessment of BDS statistics significance for the standardized residuals of GARCH models of exchange rate changes.
Publication Name: Oxford Bulletin of Economics & Statistics
Subject: Economics
ISSN: 0305-9049
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
A differential game model of Canada's Pacific halibut fishery
Article Abstract:
A differential game formulation used to study Canada's Pacific halibut fishery is presented. The study reveals that harvesting levels at optimal conditions are obtained from the profit maximization criterion. Also, the study shows that the effort and yield from aggregate steady-state fishing increases with the number of fishermen that harvest the stock. The approach used provides a better explanation of what has occurred in the fishery, as compared to Cook's optimal control model.
Publication Name: Journal of Economic Studies
Subject: Economics
ISSN: 0144-3585
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Capital inflows, external shocks, and the real exchange rate. An empirical examination of the convexity bias in the pricing of interest rate swaps
- Abstracts: The indeterminacy of prices under interest rate pegging: the non-Ricardian case. Price smoothing policies: a welfare analysis
- Abstracts: The matching market institution: a laboratory investigation. Inefficient information aggregation as a source of asset price bubbles