C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Analysis
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Assessing the Business Outlook Survey Indicator Using Real-Time Data
Every quarter, the Bank of Canada conducts quarterly consultations with businesses across Canada, referred to as the Business Outlook Survey (BOS). A principal-component analysis conducted by Pichette and Rennison (2011) led to the development of the BOS indicator, which summarizes survey results and is used by the Bank as a gauge of overall business sentiment. -
Extracting Information from the Business Outlook Survey Using Statistical Approaches
Since the autumn of 1997, the regional offices of the Bank of Canada have conducted quarterly consultations with businesses across Canada. These consultations, summarized in the Business Outlook Survey (BOS), are structured around a survey questionnaire that covers topics of importance to the Bank, notably business activity, pressures on production capacity, prices and inflation, and credit conditions. -
Money and Credit Factors
The authors introduce new measures of important underlying macroeconomic phenomena that affect the financial side of the economy. -
Dynamic Factor Analysis for Measuring Money
Technological innovations in the financial industry pose major problems for the measurement of monetary aggregates. The authors describe work on a new measure of money that has a more satisfactory means of identifying and removing the effects of financial innovations. -
GAUSS™ Programs for the Estimation of State-Space Models with ARCH Errors: A User's Guide
State-space models have long been popular in explaining the evolution of various economic variables. This is mainly because they generally have more economic content than do others in their class of parsimonious models (for example, VARs). Yet, in spite of their advantages, use of these models until recently was limited by the assumption that all […]