Staff working papers

• The New Keynesian Hybrid Phillips Curve: An Assessment of Competing Specifications for the United States

  Staff Working Paper 2004-31 David Dupuis

  Inflation forecasting is fundamental to monetary policy. In practice, however, economists are faced with competing goals: accuracy and theoretical consistency.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Inflation and prices JEL Code(s): E, E3, E31

• The New Basel Capital Accord and the Cyclical Behaviour of Bank Capital

  Staff Working Paper 2004-30 Mark Illing, Graydon Paulin

  The authors conduct a counterfactual simulation of the proposed rules under the new Basel Capital Accord (Basel II), including the revised treatment of expected and unexpected credit losses proposed by the Basel Committee in October 2003.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions JEL Code(s): G, G2, G21, G28, K, K2, K23

• Uninsurable Investment Risks

  Staff Working Paper 2004-29 Césaire Meh, Vincenzo Quadrini

  The authors study a general-equilibrium economy in which agents have the ability to invest in a risky technology.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Financial institutions, Financial markets JEL Code(s): D, D3, D31, E, E2, E21, G, G0

• Monetary and Fiscal Policies in Canada: Some Interesting Principles for EMU?

  Staff Working Paper 2004-28 Virginie Traclet

  Choosing a well-designed framework for fiscal and monetary policies is a challenge for economic authorities.

  Content Type(s): Staff research, Staff working papers Topic(s): Fiscal policy, Monetary policy framework JEL Code(s): E, E5, E58, E6, E61, E63