...Chapter 15 Monetary Policy Xingfei Liu, Ryerson University Interest Rates and Monetary Policy 15 LEARNING OBJECTIVES LO15.1 Discuss how the equilibrium interest rate is determined in the market for money. LO15.2 List and explain the main functions of the Bank of Canada. LO15.3 List and explain the goals and tools of monetary policy. LO15.4 Describe the overnight lending rate and how the Bank of Canada directly influences it. LO15.5 Identify the mechanisms by which monetary policy affects GDP and the price level. LO15.6 Explain the effectiveness of monetary policy and its shortcomings. LO15.7 Describe the effects of the international economy on the operation of monetary policy. 2 15.1 The Market for Money and the Determination of Interest Rates 3 KEY GRAPH - The Demand for Money, the Supply of Money, and the Equilibrium Interest Rate FIGURE 15-1 (a) Transactions demand for money, Dt (c) Total demand for money, Dm and supply (b) Asset demand for money, Da Rate of interest, i percent 10 7.5 Sm 5 + 2.5 = 5 0 Dt 50 100 150 Da 200 Amount of money demanded (billions of dollars) 50 100 150 200 Amount of money demanded (billions of dollars) Dm 50 100 150 200 250 300 Amount of money demanded and supplied (billions of dollars) ...
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...TABLE OF CONTENTS Introduction and Overview…………………………………………………………….Page 1 The Country…………………………………………………………………………….Page 2 Government and Politics………………………………………………………………..Page 3 Economic Structure……………………………………………………………………..Page 4-8 National Culture………………………………………………………………………...Page 9-11 Management…………………………………………………………………………….Page 12-14 Comparison U.S. and Canada………………………………………….……………….Page 15 Interview……………………………………………………………………………….Page 16 Conclusion………………………………………………………………………………Page 17 References………………………………………………………………………………Page 18-22 1 INTRODUCTION AND OVERVIEW Introduction The purpose of this paper is for us, as a team, to learn more about the culture in Canada relating to a business atmosphere as well as a casual atmosphere. It is important to be knowledgeable of cultures in other countries, due to possible international business opportunities that may arise in the future. Overview In this paper, we discuss a little bit about the history and demographics of the country as a whole. We also talk about the government, economy, and culture of Canada on a more detailed level. Later, in the paper management in Canada as well as a comparison of the U.S. and Canada is covered. 2 CANADA- THE COUNTRY History The first group to come to Canada was the Aboriginal people who were later joined by the French and British to form the culture of Canada (Wikipedia, 2010). Canada has also been influenced by the United States relating to its...
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...The Relationship between Financial Markets and Economic Growth: Implications for Canada Research Study Prepared for the Wise Persons’ Committee Gordon Boissonneault Senior Economist, WPC Staff October 24, 2003 The Relationship between Financial Markets and Economic Growth: Implications for Canada Executive Summary The financial sector has experienced significant change over recent decades, driven by advances in information and communications technology and widespread reductions in international barriers to trade and investment. International integration is advancing rapidly, reflecting in part the development of global production chains and the rapid growth of emerging market economies. As a result of the forces of integration, international competition has become more fierce and firms are under increasing pressure to cut costs and differentiate their products to survive. Canada’s economy has numerous linkages beyond its borders, particularly with the United States. The future improvement of Canadians’ standard of living will depend in large part on foreign investment in Canada and the ability of Canadians to invest abroad. In this regard, a thriving financial sector will be a key component of our success. Canada has a small share of the global capital market. Thus, to be competitive, the Canadian capital market must be efficient and offer a low cost of capital. As much as possible, the policies and institutions that govern the Canadian financial...
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...organization will not take the loyalty of talented people for granted. It will constantly try to recruit and keep them. … The mutual commitment of an employer and an employee will be one of the most important factors for a 21st-century organization. Subhir Chowdhury1 One CHAPTER OBJECTIVES After studying this chapter, you should be able to: • List challenges facing Canadian organizations in the context of managing their workforce. • Discuss the objectives of human resource management. • Discuss the meaning of strategic human resource management and steps in implementing the same. • Discuss how human resource departments are organized and function. • Discuss future roles of the human resource profession in this country. CHAPTER ONE Strategic Importance of Human Resource Management ame the greatest accomplishment of the last century. Landing on the...
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...organization will not take the loyalty of talented people for granted. It will constantly try to recruit and keep them. … The mutual commitment of an employer and an employee will be one of the most important factors for a 21st-century organization. Subhir Chowdhury1 One CHAPTER OBJECTIVES After studying this chapter, you should be able to: • List challenges facing Canadian organizations in the context of managing their workforce. • Discuss the objectives of human resource management. • Discuss the meaning of strategic human resource management and steps in implementing the same. • Discuss how human resource departments are organized and function. • Discuss future roles of the human resource profession in this country. CHAPTER ONE Strategic Importance of Human Resource Management ame the greatest accomplishment of the last century. Landing on the...
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...STRATEGIC DILEMMAS OF A SMALL MARKET PLAYER: THE CANADIAN WINE INDUSTRY Judith J. Madill Eric Sprott School of Business, Carleton University 1125 Colonel By Drive, Ottawa, ON, Canada, K1S 5B6 +1 (613) 520-2600 Ext. 8014 Fax: +1 (613) 520-4427 e-mail: Judith_Madill@carleton.ca Allan L. Riding Eric Sprott School of Business, Carleton University 1125 Colonel By Drive, Ottawa, ON, Canada, K1S 5B6 +1 (613) 520-2394 Fax: +1 (613) 520-2363 e-mail: al_riding@carleton.ca George H. Haines, Jr. Eric Sprott School of Business, Carleton University 1125 Colonel By Drive, Ottawa, ON, Canada, K1S 5B6 +1 (613) 520-2600 Ext. 7487 Fax: +1 (613) 520-4427 e-mail: george_haines@carleton.ca Abstract This paper undertakes an analysis of the strategic situation of the Canadian wine industry. A very small player by world standards, Canadian wineries face intense and intensifying competition within the domestic market. The demand side of this market is dominated by a small number of large provincial monopoly retailers. The supply side comprises five substantial firms that account for ninety percent of total wine production and a large number of very small wineries. The Canadian competitive environment is characterized by strong historical reputations of (and consumer preferences for) Old World wines, economies of scale and technology associated with New World wines, (at best) stable per capita wine consumption patterns, rapid increases in both the number of domestic wineries and land under viticulture...
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...Project: Ethics of the Mining Industry Group 4 Business Ethics 04-71-300-02 Professor Singh Date submitted: March 19th, 2014 ! ! ! ! ! ! ! ! ! ! ! ! ! !1 Executive Summary This report assesses the global mining industry from a business perspective. Firstly, it begins with the history of mining across the globe and the structure of the mining industry. It then analyzes the impacts of the mining industry globally. Lastly, it addresses the issues surrounding our land—the Canadian mining industry. The research shows that the history of mining goes as far as the Neolithic era. The mining value chain presented demonstrates the formation of a mining company to the extraction of the natural resources. Further investigation shows that the mining structure is an oligopoly. Methods of analysis include an environmental analysis using PEST and a stakeholder map, which focus on the performance of a world-renowned mining company TransAlta. The finding is that management’s role is to have efficiency and productivity while maintaining ethical practices. Ethical theories are then used to look at the social, environmental and economical impacts of the Canadian industry. It is concluded that each ethical theory presents a favorable solution to each impact. Social corporate responsibility is evaluated in the last ten years in Canada and around the globe. It is found that the industry has become one of the most safety-conscious industries within Canada. The companies still have a prospective...
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...operates energy infrastructure throughout North America. The corporation finds itself at the focal point of the oil sands debate. The transnational corporation has applied for a permit to carry out a $7 billion project by the name of Keystone XL, which would allow TransCanada to construct and manage an oil transport pipeline between the United States-Canada border. The pipeline would transport crude oil produced from oil sands in Canada to oil refineries in the Texas Gulf Coast. Since the pipeline would cross international borders, the project requires the approval of the State Department in accord with Executive Order 13337. It is over this crucial point that much of the discussion has been centered. Time Magazine has dubbed oil sands “Canada’s greatest buried energy treasure” (“What is Oil Sands?”). Oil sands are naturally occurring deposits of mixtures of water, bitumen, sand, clay and other minerals, which combine to create an extremely viscous oil. The sand particles have become coated with a thick layer of oil and water. After millions of years of exposure to bacteria, the mixture becomes incredibly thick. The crude must...
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...2011 Planning & Assessing RX 330 Productions for Toyota North America Team Charlie Oscar Oscar Lima AMBA 640, Section 9044 8/9/2011 Section I II III Executive summary Introduction Exercise 1: Toyota Production System (TPS) today TPS term definitions & practical examples IV Exercise 1: TPS as a total entity Advantages Limitations Evolution TPS use among other companies V Exercise 2: Grid analysis (Weighted scoring model) Exogenous factors & assumptions Endogenous factors & assumptions Constraints VI VII Exercise 2: Location recommendation Exercise 3: Decision tree analysis TMMC production capacity recommendation Limitations Past performance: RX 330/350 VIII Exercise 4: Current regional production strategy Assessment Change recommendations IX Summary Appendix A References Page 2 3 4 4 7 7 8 8 9 10 11 13 16 16 17 17 18 19 19 19 21 21 23 24 1 I. Executive Summary Toyota Motor Corporation is leading the way to future mobility through innovation, productivity, quality and efficiency. Toyota uses a self-developed strategy known as the Toyota Production System (TPS) to guide business process improvements. This strategy applies principles of “just-in-time” production, also called “lean”, to align supply closely with consumer demand while avoiding surplus inventory. The report defines eight TPS terms, i.e. jidoka, just-intime, hoshin, heijunka, muda, kaizen, standardized work, and pokayoke; and gives examples of how terms are applied in other industries...
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...classic single-employer, defined-benefit pension plan are the wrong response to Canada’s occupational pension problems. While tax and regulatory changes can help, Canadians need a new approach to retirement income that will pool risks, control costs, and avoid the agency problems that have put many pension promises at risk. The Study in Brief The problems of employer-sponsored defined-benefit (DB) pension plans in Canada raise two issues: the need for short-run measures to limit the damage; and the need for new pension models to prevent their recurring. The DB sector’s immediate preoccupations are the result of changes in the economic environment — in particular, a decline in long-term interest rates — that caused their balance sheets to deteriorate, and of changes in accounting standards to more market-based methods that revealed the underfunded state of these plans in stark form. The immediate policy challenge is to ensure the recovery and/or restructuring of sick plans, and the continued health of sound ones. Extra time and financial scope to work off deficits are good, but current limits on contributions to plans should rise or disappear, while legislation to establish clear title to surpluses for sponsors who must cover deficits is badly needed. Accounting standards should remain strict, however, to ensure that emerging problems are seen and addressed. It would be a mistake to privilege government-employee plans by relieving them of the same solvency requirements that apply...
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...the information is current, we review the guide regularly. Doing Business in Canada Doing Business in Canada is designed to give business executives, counsel and potential investors from foreign countries a concise overview of Canada’s legal and economic framework and key business legislation. For those looking to pursue business opportunities in Canada, this guide outlines several unique aspects of doing business in Canada, including French language requirements in the province of Québec as well as overlapping regulatory jurisdiction among various levels of government in certain areas of the law. With few exceptions, the same considerations apply to Canadians who live, work and conduct business in Canada. Despite the ongoing harmonization of many areas of Canadian business law with those of our major trading partners through international agreements, addressing distinctly Canadian business law requirements is a crucial consideration when entering the Canadian marketplace. Each chapter is designed to assist you with an overview of that particular subject and the laws most likely to affect your business decisions. Beginning with an introduction to Canada’s legal system as it applies to businesses, the guide includes an introduction to Canada’s tax system, the pensions and retirement savings landscape in Canada, foreign investment considerations, competition law, and details on doing business in Québec, to name a few topics. Doing Business in Canada does not contain a full...
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...Sample Research Paper on Citizenship Introduction Citizenship is being defined as the relationship between the state and individuals. Historically citizenship is being inevitably linked with the state formation. Originally citizenship was denoting residence of people within protected walls of a city. Thus, whoever belonged to a community residing inside the boundaries was considered a citizen. Later this term has acquired a different meaning and the standards and definitions of citizenship have changed. There were many reasons that have caused such changes: history proceeded with its migrations, wars and annexation and along on its way brought new meanings to citizenship. Such change in definition, for example, can be found in suffrage granted to women and the nonpropertied classes. Paupers, convicts and soldiers are another example of how political and civil rights were once a privilege of certain classes only (Dahrendorf, 1974, p. 11). With the introduction of mass democracy and social protection as well as introduction of welfare state a need in the new conception that would look on the relationship on an individual and the state appeared consequently. The norms of citizenship, therefore, have improved with the development of state and citizenship became a multination concept, which implies different things to different nations (Dahrendorf, 1974, p. 12). According to Michael Ignatieff (1995), the introduction of the welfare state can be explained as an attempt to make citizenship...
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...Organization After meeting in Geneva in May 2003 for the Fifty-Sixth World Health Assembly, the WHO outlined its Global Initiative for the Elimination of Avoidable Blindness, or VISION 2020 plan. The WHO urges national governments to: • Set up, not later than 2005, a national VISION 2020 plan, in partnership with the WHO and in collaboration with NGOs and the private sector. • Establish a national coordinating committee for VISION 2020 or a national blindness prevention committee, which may include consumer or patient groups, to develop and implement the plan. • Commence implementation of such plans by 2007 at the latest. • Include effective information systems with standardized indicators and periodic monitoring and evaluation, with the aim of showing a reduction in the magnitude of avoidable blindness by 2010. • Mobilize resources for eliminating avoidable blindness. In turn, the WHO agrees to: • Maintain and strengthen the WHO’s collaboration with governments and all partners of the initiative. • Ensure coordination of the implementation of the VISION 2020 plan, by setting up a monitoring committee grouping all those involved, including national government representatives. • Provide support for strengthening national capability, especially through development of human resources, to coordinate, assess, and prevent avoidable blindness. • Document, from countries...
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...International Marketing (BX770007) Assignment 1 Jason Products International Market Expansion Proposal Submitted by – Shazma Farooqui Student ID - 10000 Word Count - 2000 Executive Summary The proposal is for Jason products which is a family owned business, the company deals in high quality dining accessories and table protection solutions. The company products are innovative, beautiful, & practical to use, in the last 5 decades the company has grown to become one of the world leader in cork backed placemat manufacture and design. The company is headquartered and based in Auckland with subsidiaries in UK, USA & Australia. (www.jason.co.nz, 2013) This proposal is for exporting the company products to four new countries along with detailed explanation that why these potential markets will be beneficial for the organization to start exporting company products, the proposal will cover the economic, financial & cultural factors prevailing in the countries being recommended in this report. The environment, competition and the market trends in domestic & international market & the developments have a direct impact on success. It is imperative to have a better understanding of the prevailing market scenario, which will help us to plan well and take good decisions. Target Countries for Expansion * Japan * Canada ...
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...Essays on Productivity Analysis in the Canadian Tourism and Hospitality Industries by Xiaofeng Li A Thesis presented to The University of Guelph In partial fulfilment of requirements for the degree of |Doctor of Philosophy in Economics Guelph, Ontario, Canada © Xiaofeng Li, December, 2011 ABSTRACT ESSAYS ON PRODUCTIVITY ANALYSIS IN THE CANADIAN TOURISM AND HOSPITALITY INDUSTRIES Xiaofeng Li University of Guelph, 2011 Advisor: Professor David M Prescott This thesis is to investigate the relationship between the productivity in the Canadian tourism and hospitality industries and workforce characteristics, human resources management practice, technology change. The productivity analysis is conducted with different measures of productivity, such as labour productivity and total factor productivity. The first chapter is to calculate labour productivity using the Canadian National Tourism Indicator (NTI) and the Canadian Human Resource Module of Tourism Satellite Account (HRM) for six tourism industries during the period 1997-2008 and to estimate an econometric model of labour productivity. Labour productivity is found to increase with the capital labour ratio, the proportion of part-time hours, the share of immigrant workers and by the proportion of the most experienced workers. The second chapter decomposes the total factor productivity growth for the Canadian tourism/hospitality industries with dynamic factor demand models which is estimated with nonlinear Full Information...
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