Staff working papers - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T14:31:56+00:00Résultats empiriques multi-pays relatifs à l'impact des cibles d'inflation sur la crédibilité de la politique monétaire
https://www.bankofcanada.ca/1998/12/working-paper-1998-23/
Over the last few years, many countries have adopted inflation targets. The objective of this paper is to report some empirical results that bear on the link between the adoption of inflation targets and the behaviour of the main macroeconomic variables. After a discussion of some recent articles analyzing international experience, some simple statistical tests […]1998-12-22T14:26:26+00:00frRésultats empiriques multi-pays relatifs à l'impact des cibles d'inflation sur la crédibilité de la politique monétaire1998-12-22Inflation targetsWorking Paper 1998-23https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-23.pdfRésultats empiriques multi-pays relatifs à l'impact des cibles d'inflation sur la crédibilité de la politique montétairePierre St-AmantDavid TessierDecember 1998A Non-Paradoxical Interpretation of the Gibson Paradox
https://www.bankofcanada.ca/1998/12/working-paper-1998-22/
In this study, we show how, to yield the real cost of borrowing, the price level can be combined with the nominal interest rate in a monetary regime where the level of prices is trend stationary. We show that the price level then conveys intertemporal information in a way similar to nominal interest rates. We […]1998-12-18T10:26:19+00:00enA Non-Paradoxical Interpretation of the Gibson Paradox1998-12-18Inflation and pricesInflation targetsInflation: costs and benefitsInterest ratesWorking Paper 1998-22 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-22.pdfA Non-Paradoxical Interpretation of the Gibson ParadoxSerge CoulombeDecember 1998Une nouvelle méthode d'estimation de l'écart de production et son application aux États-Unis, au Canada et à l'Allemagne
https://www.bankofcanada.ca/1998/12/working-paper-1998-21/
This study introduces a new method for identifying the output gap, based on the estimation of multivariate autoregression (VAR) models. This approach, which involves using restrictions to identify structural shocks that have only a transitory effect on output but that affect the trend inflation rate, is compared with the decomposition method proposed by Blanchard and […]1998-12-06T09:30:26+00:00frUne nouvelle méthode d'estimation de l'écart de production et son application aux États-Unis, au Canada et à l'Allemagne1998-12-06Working Paper 1998-21https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-21.pdfUne nouvelle méthode d'estimation de l'écart de production et son application aux États-Unis, au Canada et à l'AllemagneRené LalondeJennifer PagePierre St-AmantDecember 1998Evaluating Alternative Measures of the Real Effective Exchange Rate
https://www.bankofcanada.ca/1998/11/working-paper-1998-20/
This paper discusses the merits and shortcomings of alternative price indices used in constructing real effective exchange rate indices and examines the effects of different weighting schemes. It also compares selected measures of the real effective exchange rate in terms of their ability to explain movements in Canadian net exports and real output. The paper […]1998-11-06T09:00:22+00:00enEvaluating Alternative Measures of the Real Effective Exchange Rate1998-11-06Working Paper 1998-20 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-20.pdfEvaluating Alternative Measures of the Real Effective Exchange RateRobert LafrancePatrick OsakwePierre St-AmantNovember 1998Can a Matching Model Explain the Long-Run Increase in Canada's Unemployment Rate?
https://www.bankofcanada.ca/1998/10/working-paper-1998-19/
The authors construct a simple general equilibrium model of unemployment and calibrate it to the Canadian economy. Job creation and destruction are endogenous. In this model, they consider several potential factors that could contribute to the long-run increase in the Canadian unempoloyment rate: a more generous unemployment insurance system, higher layoff costs, higher discretionary taxes, […]1998-10-06T08:55:03+00:00enCan a Matching Model Explain the Long-Run Increase in Canada's Unemployment Rate?1998-10-06Economic modelsFiscal policyLabour marketsWorking Paper 1998-19 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-19.pdfCan a Matching Model Explain the Long-Run Increase in Canada's Unemployment Rate?Andreas HornsteinMingwei YuanOctober 1998EE2E6JJ4The Sale of Durable Goods by a Monopolist in a Stochastic Environment
https://www.bankofcanada.ca/1998/10/working-paper-1998-18/
This paper examines the sale of durable goods by a monopolist in a stochastic partil equilibrium setting. It analyzes the responses of prices and output to various types of shocks and notes the differences with non-durable goods and competitive markets. It shows that behavior in this model with constant marginal costs of production is in […]1998-10-05T15:27:01+00:00enThe Sale of Durable Goods by a Monopolist in a Stochastic Environment1998-10-05Market structure and pricingWorking Paper 1998-18 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-18.pdfThe Sale of Durable Goods by a Monopolist in a Stochastic EnvironmentGabriel SrourOctober 1998DD4La politique monétaire a-t-elle des effets asymétriques sur l'emploi?
https://www.bankofcanada.ca/1998/09/working-paper-1998-17/
Several economists, including Cover (1992), Ammer and Brunner (1995), Macklem, Paquet, and Phaneuf (1996), have worked over the past few years to determine whether monetary policy shocks have asymmetric effects on output. These authors have generally found that negative monetary shocks tend to reduce output growth significantly, and that positive shocks generally have a weaker […]1998-09-22T14:56:30+00:00frLa politique monétaire a-t-elle des effets asymétriques sur l'emploi?1998-09-22Monetary policy transmissionWorking Paper 1998-17https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-17.pdfLa politique monétaire a-t-elle des effets asymétriques sur l'emploi?Lise PichetteSeptember 1998EE5Consumer Attitudes, Uncertainty, and Consumer Spending
https://www.bankofcanada.ca/1998/09/working-paper-1998-16/
This study examines the link between consumer expenditures and the Conference Board's Index of Consumer Attitudes, an index highly regarded for some time as a useful leading indicator of consumer expenditures. However, the theory that identifies why it may be useful in an analysis of consumption is less well established. To explore this question, we […]1998-09-22T11:20:33+00:00enConsumer Attitudes, Uncertainty, and Consumer Spending1998-09-22Domestic demand and componentsEconomic modelsWorking Paper 1998-16https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-16.pdfConsumer Attitudes, Uncertainty, and Consumer SpendingDenise CôtéMarianne JohnsonSeptember 1998DD1D12EE2On the Believable Benefits of Low Inflation
https://www.bankofcanada.ca/1998/09/working-paper-1998-15/
This paper reviews the existing theoretical and empirical literature addressing the benefits of low inflation. The ultimate goal is to arrive at a set of benefits in which a monetary authority can have genuine confidence. I argue that the current state of economic research—both empirical and theoretical—provides little basis for believing in significant observable benefits […]1998-09-05T10:25:08+00:00enOn the Believable Benefits of Low Inflation1998-09-05Inflation: costs and benefitsWorking Paper 1998-15 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-15.pdfOn the Believable Benefits of Low InflationChristopher RaganSeptember 1998EE3E31Non-Linearities in the Output-Inflation Relationship: Some Empirical Results for Canada
https://www.bankofcanada.ca/1998/08/working-paper-1998-14/
This paper analyzes the short-run dynamic process of inflation in Canada and examines whether a systematic variation in the relationship between inflation and output can be detected over time. In the theoretical literature, different models of price-setting behaviour predict that the slope of the Phillips curve will be a function of macroeconomic conditions, implying a […]1998-08-25T10:09:23+00:00enNon-Linearities in the Output-Inflation Relationship: Some Empirical Results for Canada1998-08-25Inflation: costs and benefitsProductivityWorking Paper 1998-14https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp98-14.pdfNon-Linearities in the Output-Inflation Relationship: Some Empirical Results for CanadaChantal DupasquierNicholas RickettsAugust 1998