Using industry-level data for Canadian manufacturing industries from 1981 to 1997, the authors find empirical evidence of a negative relationship between the capital-labour ratio and the user cost of capital relative to the price of labour.
: Exchange rates; ProductivityThe author develops a theoretical model of bank closure. The regulatory decision about bank failure consists of two parts: whether to close and how to close.
: Financial InstitutionsIn a search model of production, where agents accumulate heterogeneous amounts of human capital, an individual worker's wage depends on average human capital in the searching population.
: Labour marketsThe authors examine the ability of economic models with regime shifts to rationalize and explain the risk-aversion and pricing-kernel puzzles put forward in Jackwerth (2000).
: Financial markets; Market structure and pricing
![[+]](http://www.bankofcanada.ca/wp-content/plugins/collapsing-archives-boc-fork/img/expand.png)
![[-]](http://www.bankofcanada.ca/wp-content/plugins/collapsing-archives-boc-fork/img/collapse.png)