E32 - Business Fluctuations; Cycles - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T08:53:09+00:00Risk Premium Shocks and the Zero Bound on Nominal Interest Rates
https://www.bankofcanada.ca/2009/10/working-paper-2009-27/
There appears to be a disconnect between the importance of the zero bound on nominal interest rates in the real-world and predictions from quantitative DSGE models. Recent economic events have reinforced the relevance of the zero bound for monetary policy whereas quantitative models suggest that the zero bound does not constrain (optimal) monetary policy.2009-10-15T14:18:11+00:00enRisk Premium Shocks and the Zero Bound on Nominal Interest Rates2009-10-15Monetary policy frameworkWorking Paper 2009-27 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp09-27.pdfRisk Premium Shocks and the Zero Bound on Nominal Interest RatesRobert AmanoMalik ShukayevOctober 2009EE3E32E5E52Consumption, Housing Collateral, and the Canadian Business Cycle
https://www.bankofcanada.ca/2009/10/working-paper-2009-26/
Using Bayesian methods, we estimate a small open economy model in which consumers face limits to credit determined by the value of their housing stock. The purpose of this paper is to quantify the role of collateralized household debt in the Canadian business cycle.2009-10-15T10:50:34+00:00enConsumption, Housing Collateral, and the Canadian Business Cycle2009-10-15Business fluctuations and cyclesCredit and credit aggregatesMonetary policy transmissionWorking Paper 2009-26 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp09-26.pdfConsumption, Housing Collateral, and the Canadian Business CycleIan ChristensenPaul CorriganCaterina MendicinoShin-Ichi NishiyamaOctober 2009EE2E21E3E32E4E44E5E52RR2R21Resurrecting the Role of Real Money Balance Effects
https://www.bankofcanada.ca/2009/09/working-paper-2009-24/
I present a structural econometric analysis supporting the hypothesis that money is still relevant for shaping inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively important, although smaller than they used to be in the early postwar period.2009-09-15T10:36:19+00:00enResurrecting the Role of Real Money Balance Effects2009-09-15Business fluctuations and cyclesMonetary aggregatesMonetary policy transmissionWorking Paper 2009-24 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp09-24.pdfResurrecting the Role of Real Money Balance EffectsJosé DorichSeptember 2009EE3E31E32E5E52A Financial Conditions Index for the United States
https://www.bankofcanada.ca/2009/08/discussion-paper-2009-11/
The financial crisis of 2007–09 has highlighted the importance of developments in financial conditions for real economic activity. The authors estimate the effect of current and past shocks to financial variables on U.S. GDP growth by constructing two growthbased financial conditions indexes (FCIs) that measure the contribution to quarterly (annualized) GDP growth from financial conditions.2009-08-01T11:01:09+00:00enA Financial Conditions Index for the United States2009-08-01Business fluctuations and cyclesMonetary and financial indicatorsMonetary conditions indexRecent economic and financial developmentsDiscussion Paper 2009-11https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp09-11.pdfA Financial Conditions Index for the United StatesKimberly BeatonRené LalondeCorinne LuuAugust 2009EE3E32E4E44E47E5E51Information Flows and Aggregate Persistence
https://www.bankofcanada.ca/2009/04/working-paper-2009-11/
Models with imperfect information that generate persistent monetary nonneutrality predominantly rely on assumptions leading to substantial heterogeneity of information across price-setters. This paper develops a quantitative general equilibrium model in which the degree of heterogeneity of information is determined endogenously.2009-04-03T11:13:05+00:00enInformation Flows and Aggregate Persistence2009-04-03Business fluctuations and cyclesInflation and pricesMonetary policy transmissionWorking Paper 2009-11 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp09-11.pdfInformation Flows and Aggregate PersistenceOleksiy KryvtsovApril 2009DD8D83EE3E31E32