E58 - Central Banks and Their Policies - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T18:16:47+00:00Anatomy of a Twin Crisis
https://www.bankofcanada.ca/2003/12/working-paper-2003-41/
The author presents a model of a twin crisis, in which foreign and domestic residents play a banking game. Both "honest" and run equilibria of the post-deposit subgame exist; some run equilibria lead to a currency crisis, as agents convert domestic currency to foreign currency.2003-12-05T14:59:52+00:00enAnatomy of a Twin Crisis2003-12-05Exchange ratesFinancial institutionsWorking Paper 2003-41 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp03-41.pdfAnatomy of a Twin CrisisRaphael SolomonDecember 2003EE5E58FF3F30GG2G21Alternative Targeting Regimes, Transmission Lags, and the Exchange Rate Channel
https://www.bankofcanada.ca/2003/12/working-paper-2003-39/
Using a closed-economy model, Jensen (2002) and Walsh (2003) have, respectively, shown that a policy regime that optimally targets nominal income growth (NIT) or the change in the output gap (SLT) outperforms a regime that targets inflation, because NIT and SLT induce more inertia in the actions of the central bank, effectively replicating the outcome obtained under precommitment. The author obtains a very different result when the analysis is extended to open-economy models.2003-12-03T14:35:36+00:00enAlternative Targeting Regimes, Transmission Lags, and the Exchange Rate Channel2003-12-03Exchange ratesMonetary policy frameworkWorking Paper 2003-39 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp03-39.pdfAlternative Targeting Regimes, Transmission Lags, and the Exchange Rate ChannelJean-Paul LamDecember 2003EE5E52E58Simple Monetary Policy Rules in an Open-Economy, Limited-Participation Model
https://www.bankofcanada.ca/2003/12/working-paper-2003-38/
The authors assess the stabilization properties of simple monetary policy rules within the context of a small open-economy model constructed around the limited-participation assumption and calibrated to salient features of the Canadian economy. By relying on limited participation as the main nominal friction that affects the artificial economy, the authors provide an important check of the robustness of the results obtained using alternative environments in the literature on monetary policy rules, most notably the now-standard "New Keynesian" paradigm that emphasizes rigidities in the price-setting mechanism.2003-12-02T16:15:30+00:00enSimple Monetary Policy Rules in an Open-Economy, Limited-Participation Model2003-12-02Monetary policy frameworkMonetary policy transmissionWorking Paper 2003-38 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp03-38.pdfSimple Monetary Policy Rules in an Open-Economy, Limited-Participation ModelScott HendryWai-Ming HoKevin MoranDecember 2003EE4E44E5E52E58FF3F31A Comparison of Twelve Macroeconomic Models of the Canadian Economy
https://www.bankofcanada.ca/2003/04/technical-report-no94/
In this report, the authors examine and compare twelve private and public sector models of the Canadian economy with respect to their paradigm, structure, and dynamic properties. These open-economy models can be grouped into two economic paradigms.2003-04-01T09:46:36+00:00enA Comparison of Twelve Macroeconomic Models of the Canadian Economy2003-04-01Economic modelsMonetary policy and uncertaintyTechnical Report 94 https://www.bankofcanada.ca/wp-content/uploads/2010/01/tr94.pdfA Comparison of Twelve Macroeconomic Models of the Canadian EconomyDenise CôtéJohn KuszczakJean-Paul LamYing LiuPierre St-AmantApril 2003CC5EE5E52E58