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- 1. Travel by Canadians ArchivedArticles and reports: 87-403-X19970014744Geography: CanadaDescription:
Canada's economy was booming in 1997. The economy, as measured by the Gross Domestic Product (GDP), grew 3.8% in 1997, its best performance since 1994 and the second best this decade.
Release date: 1999-11-24 - 2. Passenger transportation in Canada ArchivedArticles and reports: 87-403-X19970014746Geography: CanadaDescription:
Vast distances, dependence on trade and low population density (compared to the United States and Europe) make transportation vitally important in Canada. The nation's travel and tourism patterns, both domestically and internationally, are a mirror image of Canadian business, lifestyles and quality of life.
Release date: 1999-11-24 - 3. A glance at the future ArchivedArticles and reports: 87-403-X19970014751Geography: CanadaDescription:
The purpose of this chapter is, first, to review some of the current long and medium term forecasts for tourism globally and within Canada. Secondly, the chapter discusses some of the Canadian tourism industries' current responses to their changing economic and social context.
Release date: 1999-11-24 - 4. Core Inflation: A Weighted Median Index ArchivedArticles and reports: 62F0014M1998007Geography: CanadaDescription:
Over the years, the concept of core inflation has become of crucial importance for the central banks of various countries. Indeed, many of them have at some point given themselves the mandate to reduce inflation and achieve price stability. The Bank of Canada undertook this mandate in February 1991.
Core inflation should reflect what is basic in price movements and ignore temporary fluctuations that have no long-term impact on prices. The phenomenon of core inflation must be of a lasting nature. The targets were initially set on the basis of the overall consumer price index (CPI). However, the Bank of Canada has stated that for practical reasons, it will focus on the consumer price index excluding the volatile food and energy components.
The question that many are asking is the following: is a measure such as the CPI excluding food and energy a good indicator of core inflation? At the meeting of the 1996 Price Measurement Advisory Committee, a review of the literature on core inflation was presented. The Committee recommended taking a closer look at a weighted median index as a means of estimating core inflation. This study deals with the question of a weighted median index and covers the period of January 1985 to January 1997. The rates of change in the weighted median index calculated from monthly movements are quite often lower than the rates of change in the official index. This behaviour reflects the usual distribution of monthly price movements for the CPI, meaning a large proportion of the monthly movements are close to zero, and the remaining price movements are, in majority, positive. Because of this behaviour of monthly movements, the weighted median index advances much more slowly than the official index. This behaviour is just as evident when inflation advances at annual rates of 4% to 5% as when it ranges around 2%. An index based on the weighted median of monthly movements in the CPI yields somewhat disconcerting results. Even though some think that the official CPI does not clearly reflect the concept of core inflation, one does not necessarily expect to see such a large gap develop over time.
Release date: 1999-10-05
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- 1. Travel by Canadians ArchivedArticles and reports: 87-403-X19970014744Geography: CanadaDescription:
Canada's economy was booming in 1997. The economy, as measured by the Gross Domestic Product (GDP), grew 3.8% in 1997, its best performance since 1994 and the second best this decade.
Release date: 1999-11-24 - 2. Passenger transportation in Canada ArchivedArticles and reports: 87-403-X19970014746Geography: CanadaDescription:
Vast distances, dependence on trade and low population density (compared to the United States and Europe) make transportation vitally important in Canada. The nation's travel and tourism patterns, both domestically and internationally, are a mirror image of Canadian business, lifestyles and quality of life.
Release date: 1999-11-24 - 3. A glance at the future ArchivedArticles and reports: 87-403-X19970014751Geography: CanadaDescription:
The purpose of this chapter is, first, to review some of the current long and medium term forecasts for tourism globally and within Canada. Secondly, the chapter discusses some of the Canadian tourism industries' current responses to their changing economic and social context.
Release date: 1999-11-24 - 4. Core Inflation: A Weighted Median Index ArchivedArticles and reports: 62F0014M1998007Geography: CanadaDescription:
Over the years, the concept of core inflation has become of crucial importance for the central banks of various countries. Indeed, many of them have at some point given themselves the mandate to reduce inflation and achieve price stability. The Bank of Canada undertook this mandate in February 1991.
Core inflation should reflect what is basic in price movements and ignore temporary fluctuations that have no long-term impact on prices. The phenomenon of core inflation must be of a lasting nature. The targets were initially set on the basis of the overall consumer price index (CPI). However, the Bank of Canada has stated that for practical reasons, it will focus on the consumer price index excluding the volatile food and energy components.
The question that many are asking is the following: is a measure such as the CPI excluding food and energy a good indicator of core inflation? At the meeting of the 1996 Price Measurement Advisory Committee, a review of the literature on core inflation was presented. The Committee recommended taking a closer look at a weighted median index as a means of estimating core inflation. This study deals with the question of a weighted median index and covers the period of January 1985 to January 1997. The rates of change in the weighted median index calculated from monthly movements are quite often lower than the rates of change in the official index. This behaviour reflects the usual distribution of monthly price movements for the CPI, meaning a large proportion of the monthly movements are close to zero, and the remaining price movements are, in majority, positive. Because of this behaviour of monthly movements, the weighted median index advances much more slowly than the official index. This behaviour is just as evident when inflation advances at annual rates of 4% to 5% as when it ranges around 2%. An index based on the weighted median of monthly movements in the CPI yields somewhat disconcerting results. Even though some think that the official CPI does not clearly reflect the concept of core inflation, one does not necessarily expect to see such a large gap develop over time.
Release date: 1999-10-05
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