Staff working papers provide a forum for staff to publish work-in-progress research intended for journal publication.
1298
result(s)
Estimating and Projecting Potential Output Using Structural VAR Methodology: The Case of the Mexican Economy
Staff Working Paper 1995-2
Alain DeSerres,
Alain Guay,
Pierre St-Amant
In this paper the authors show how potential output can be estimated and projected through an approach derived from the structural vector autoregression methodology. This approach is applied to the Mexican economy. To identify demand, supply and world oil shocks, the authors assume that demand shocks do not have a permanent effect on output and […]
Content Type(s):
Staff research,
Staff working papers
Topic(s):
International topics,
Potential output
Deriving Agents' Inflation Forecasts from the Term Structure of Interest Rates
Staff Working Paper 1995-1
Christopher Ragan
In this paper, the author uses the term structure of nominal interest rates to construct estimates of agents' expectations of inflation over several medium-term forecast horizons. The Expectations Hypothesis is imposed together with the assumption that expected future real interest rates are given by current real rates. Under these maintained assumptions, it is possible to […]
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices,
Interest rates
Searching for the Liquidity Effect in Canada
Staff Working Paper 1994-12
Ben Fung,
Rohit Gupta
This paper examines the empirical evidence of the liquidity effect in Canada. In the presence of the liquidity effect, the initial impact of an unanticipated expansionary monetary policy is to lower nominal and real interest rates for a short period of time.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Monetary aggregates
The Causes of Unemployment in Canada: A Review of the Evidence
Staff Working Paper 1994-11
Stephen S. Poloz
This paper reviews various competing theories of structural unemployment and considers whether they may be used to explain any of the rise in unemployment experienced by Canada during the most recent economic cycle.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Labour markets
Les provinces canadiennes et la convergence : une évaluation empirique
Staff Working Paper 1994-10
Mario Lefebvre
This paper examines whether the hypothesis of economic convergence holds for the Canadian provinces. Using data on real gross domestic product per capita and on factor productivity from 1966 to 1992, the paper shows, using two different methods, that the convergence hypothesis cannot be rejected. This evidence supports the findings of other authors who have studied convergence among Canadian provinces.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Recent economic and financial developments
Symétrie des chocs touchant les régions canadiennes et choix d'un régime de change
Staff Working Paper 1994-9
Alain DeSerres,
René Lalonde
The authors attempt to determine whether the primary advantage of the flexible exchange rate between Canada and the United States—the rapid adjustment of the real exchange rate following an asymmetrical shock—is as evident at the regional as at the national level.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates
An Empirical Investigation into Government Spending and Private Sector Behaviour
Staff Working Paper 1994-8
Robert Amano,
Tony S. Wirjanto
We examine whether there is a significant relationship between government and private consumption for Canada. We derive estimating equations between the two types of consumption under both cointegration and no-cointegration assumptions.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Recent economic and financial developments
L'endettement du secteur privé au Canada: un examen macroéconomique
Staff Working Paper 1994-7
Jean-François Fillion
In this study, the author examines the hypothesis of private-sector debt overhang, which suggests that households and businesses may on occasion find themselves holding too much debt and so decide to reduce it by cutting back expenditures. His aim is to determine whether this hypothesis can help explain the weakness of credit growth and the sluggishness of the recent economic recovery in Canada.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Sectoral balance sheet
The Dynamic Behaviour of Canadian Imports and the Linear-Quadratic Model: Evidence Based on the Euler Equation
Staff Working Paper 1994-6
Robert Amano,
Tony S. Wirjanto
We examine the ability of the simple linear-quadratic model under rational expectations to explain dynamic behaviour of aggregate Canadian imports. In contrast to authors of previous studies who examine dynamic behaviour using the LQ model, we estimate the structural parameters using the Euler equation in a limited information framework that does not require an explicit solution for the model's control variables in terms of the exogenous forcing variables.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Recent economic and financial developments