Research
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Real Return Bonds, Inflation Expectations, and the Break-Even Inflation Rate
According to the Fisher hypothesis, the gap between Canadian nominal and Real Return Bond yields (or break-even inflation rate) should be a good measure of inflation expectations. -
International Equity Flows and Returns: A Quantitative Equilibrium Approach
The authors model trading by foreign and domestic investors in developed-country equity markets. -
Characterization of the Dynamic Effects of Fiscal Shocks in a Small Open Economy
The author studies the macroeconomic consequences of discretionary changes in the fiscal policy instruments for Canada.