E - Macroeconomics and Monetary Economics - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T07:28:05+00:00Are Commodity Prices Useful Leading Indicators of Inflation?
https://www.bankofcanada.ca/2009/01/discussion-paper-2009-5/
Commodity prices have increased dramatically and persistently over the past several years, followed by a sharp reversal in recent months. These large and persistent movements in commodity prices raise questions about their implications for global inflation. The process of globalization has motivated much debate over whether global factors have become more important in driving the […]2009-01-29T11:40:39+00:00enAre Commodity Prices Useful Leading Indicators of Inflation?2009-01-29Business fluctuations and cyclesEconomic modelsInflation and pricesInternational topicsMonetary policy transmissionDiscussion Paper 2009-5https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp09-5.pdfAre Commodity Prices Useful Leading Indicators of Inflation?Calista CheungJanuary 2009EE3E5E52E58Emerging Asia's Impact on Food and Oil Prices: A Model-Based Analysis
https://www.bankofcanada.ca/2009/01/discussion-paper-2009-3/
The authors explore the usefulness of macroeconomic models in analyzing global economic developments by examining movements in commodity prices between July 2007 and July 2008. They use the Bank of Canada's version of the Global Economy Model and investigate the longer-term outlook for commodity prices by constructing two different, globally consistent, scenarios for emerging Asia.2009-01-29T11:25:20+00:00enEmerging Asia's Impact on Food and Oil Prices: A Model-Based Analysis2009-01-29International topicsRecent economic and financial developmentsDiscussion Paper 2009-3https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp09-3.pdfEmerging Asia’s Impact on Food and Oil Prices: A Model-Based AnalysisRené LalondePhilipp MaierDirk MuirJanuary 2009EE3E30E5E50E58E6E60Labour Shares and the Role of Capital and Labour Market Imperfections
https://www.bankofcanada.ca/2009/01/discussion-paper-2009-2/
In continental Europe, labour shares in national income have exhibited considerable variation since 1970. Empirical and theoretical research suggests that the evolution of labour markets and labour market imperfections can, in part, explain this phenomenon.2009-01-29T10:35:48+00:00enLabour Shares and the Role of Capital and Labour Market Imperfections2009-01-29Economic modelsFinancial institutionsLabour marketsDiscussion Paper 2009-2https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp09-2.pdfLabour Shares and the Role of Capital and Labour Market ImperfectionsLena SuchanekJanuary 2009CC7C78EE2E25JJ6J64Canada and the IMF: Trailblazer or Prodigal Son?
https://www.bankofcanada.ca/2009/01/discussion-paper-2009-1/
Canada played an important role in the postwar establishment of the International Monetary Fund (IMF), yet it was also the first major member to challenge the orthodoxy of the BrettonWoods par value system by abandoning it in 1950 in favour of a floating, market-determined exchange rate.2009-01-29T10:11:19+00:00enCanada and the IMF: Trailblazer or Prodigal Son?2009-01-29Exchange rate regimesExchange ratesMonetary policy frameworkDiscussion Paper 2009-1https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp09-1.pdfCanada and the IMF: Trailblazer or Prodigal Son?Michael BordoLawrence L. SchembriTamara GomesJanuary 2009EE5E52E58FF4F41F5F55NN7N72Inventories, Markups, and Real Rigidities in Menu Cost Models
https://www.bankofcanada.ca/2009/01/working-paper-2009-6/
Real rigidities that limit the responsiveness of real marginal cost to output are a key ingredient of sticky price models necessary to account for the dynamics of output and inflation. We argue here, in the spirit of Bils and Kahn (2000), that the behavior of marginal cost over the cycle is directly related to that of inventories, data on which is readily available.2009-01-01T16:24:20+00:00enInventories, Markups, and Real Rigidities in Menu Cost Models2009-01-01Business fluctuations and cyclesMonetary policy transmissionWorking Paper 2009-6 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp09-6.pdfInventories, Markups, and Real Rigidities in Menu Cost ModelsOleksiy KryvtsovVirgiliu MidriganJanuary 2009EE3E31FF1F12What Accounts for the U.S.-Canada Education-Premium Difference?
https://www.bankofcanada.ca/2009/01/working-paper-2009-4/
This paper analyzes the differences in wage ratios of university graduates to less than university graduates, the education premium, in Canada and the United States from 1980 to 2000. Both countries experienced a similar increase in the fraction of university graduates and a similar increase in skill biased technological change based on capital-embodied technological progress, but only the United States had a large increase in the education premium.2009-01-01T15:58:50+00:00enWhat Accounts for the U.S.-Canada Education-Premium Difference?2009-01-01Labour marketsProductivityWorking Paper 2009-4 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp09-4.pdfWhat Accounts for the U.S.-Canada Education-Premium Difference?Oleksiy KryvtsovAlexander UeberfeldtJanuary 2009EE2E24E25JJ2J24J3J31Uninsurable Investment Risks and Capital Income Taxation
https://www.bankofcanada.ca/2009/01/working-paper-2009-3/
This paper studies the capital accumulation and welfare implications of reducing capital income taxation in a general equilibrium economy with uninsurable investment risks.2009-01-01T15:53:55+00:00enUninsurable Investment Risks and Capital Income Taxation2009-01-01Economic modelsWorking Paper 2009-3 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp09-3.pdfUninsurable Investment Risks and Capital Income Taxation Césaire MehYaz TerajimaJanuary 2009EE2E21E22E6E62GG3G32HH2H24H25Monetary Policy Lag, Zero Lower Bound, and Inflation Targeting
https://www.bankofcanada.ca/2009/01/working-paper-2009-2/
Although the concept of monetary policy lag has historical roots deep in the monetary economics literature, relatively little attention has been paid to the idea. In this paper, we build on Svensson's (1997) inflation targeting framework by explicitly taking into account the lagged effect of monetary policy and characterize the optimal monetary policy reaction function both in the absence and in the presence of the zero lower bound on the nominal interest rate.2009-01-01T15:49:46+00:00enMonetary Policy Lag, Zero Lower Bound, and Inflation Targeting2009-01-01Inflation targetsMonetary policy frameworkMonetary policy implementationWorking Paper 2009-2 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp09-2.pdfMonetary Policy Lag, Zero Lower Bound, and Inflation TargetingShin-Ichi NishiyamaJanuary 2009CC6C63EE5E52E58