Research
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Optimal Taylor Rules in an Estimated Model of a Small Open Economy
The authors compute welfare-maximizing Taylor rules in a dynamic general-equilibrium model of a small open economy. -
The U.S. New Keynesian Phillips Curve: An Empirical Assessment
The authors examine the evidence presented by Galí and Gertler (1999) and Galí, Gertler, and Lopez-Salido (2001, 2003) that the inflation dynamics in the United States can be well-described by the New Keynesian Phillips curve (NKPC). -
Market Valuation and Risk Assessment of Canadian Banks
The authors apply the asset-valuation model developed by Rabinovitch (1989) to six publicly traded Canadian banks over the period 1982–2002. -
Counterfeiting: A Canadian Perspective
Counterfeiting is a significant public policy issue, because paper money, despite rumours of its demise, remains an important part of our payments system. -
Investment, Private Information, and Social Learning: A Case Study of the Semiconductor Industry
Social learning models of investment provide an interesting explanation for sudden changes in investment behaviour.