E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - Bank of Canada
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2024-03-28T18:20:36+00:00
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Should Central Banks Adjust Their Target Horizons in Response to House-Price Bubbles?
https://www.bankofcanada.ca/2007/05/discussion-paper-2007-4/
The authors investigate the implications of house-price bubbles for the optimal inflation-target horizon using a dynamic general-equilibrium model with credit frictions, house-price bubbles, and small open-economy features. They find that, given the distribution of shocks and inflation persistence over the past 25 years, the optimal target horizon for Canada tends to be at the lower […]
2007-05-11T11:18:58+00:00
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Should Central Banks Adjust Their Target Horizons in Response to House-Price Bubbles?
2007-05-11
Central bank research
Credit and credit aggregates
Economic models
Inflation targets
Monetary policy framework
Monetary policy transmission
Discussion Paper 2007-4
https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp07-4.pdf
Should Central Banks Adjust Their Target Horizons in Response to House-Price Bubbles?
Meenakshi Basant Roi
Rhys R. Mendes
May 2007
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Oil Price Movements and the Global Economy: A Model-Based Assessment
https://www.bankofcanada.ca/2007/05/working-paper-2007-34/
We develop a five-region version (Canada, an oil exporter, the United States, emerging Asia and Japan plus the euro area) of the Global Economy Model (GEM) encompassing production and trade of crude oil, and use it to study the international transmission mechanism of shocks that drive oil prices.
2007-05-04T12:23:07+00:00
en
Oil Price Movements and the Global Economy: A Model-Based Assessment
2007-05-04
Economic models
Inflation and prices
International topics
Working Paper 2007-34
https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp07-34.pdf
Oil Price Movements and the Global Economy: A Model-Based Assessment
Selim Elekdag
René Lalonde
Douglas Laxton
Dirk Muir
Paolo Pesenti
May 2007
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Computing Optimal Policy in a Timeless-Perspective: An Application to a Small-Open Economy
https://www.bankofcanada.ca/2007/05/working-paper-2007-32/
Since the contribution of Kydland and Prescott (1977), it is well known that the optimal Ramsey policy is time inconsistent. In a series of recent contributions, Woodford (2003) proposes a new methodology to circumvent this problem, namely the timeless perspective solution.
2007-05-02T17:15:54+00:00
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Computing Optimal Policy in a Timeless-Perspective: An Application to a Small-Open Economy
2007-05-02
Monetary policy framework
Working Paper 2007-32
https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp07-32.pdf
Computing Optimal Policy in a Timeless-Perspective: An Application to a Small-Open Economy
Michel Juillard
Florian Pelgrin
May 2007
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