E3 - Prices, Business Fluctuations, and Cycles - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T13:14:00+00:00The Propagation of U.S. Shocks to Canada: Understanding the Role of Real-Financial Linkages
https://www.bankofcanada.ca/2010/12/the-propagation-of-u-s-shocks-to-canada-understanding-the-role-of-real-financial-linkages/
This paper examines the transmission of U.S. real and financial shocks to Canada and, in particular, the role of financial frictions in affecting the transmission of these shocks. These questions are addressed within the Bank of Canada's Global Economy Model (de Resende et al. forthcoming), a dynamic stochastic general-equilibrium model with an active banking sector and a detailed role for financial frictions.2010-12-24T07:40:36+00:00enThe Propagation of U.S. Shocks to Canada: Understanding the Role of Real-Financial Linkages2010-12-24Business fluctuations and cyclesEconomic modelsInternational topicsWorking Paper 2010-40https://www.bankofcanada.ca/wp-content/uploads/2010/12/wp10-40.pdfThe Propagation of U.S. Shocks to Canada: Understanding the Role of Real-Financial LinkagesKimberly BeatonRené LalondeStephen SnuddenDecember 2010EE2E21E27E3E32FF3F36F4F40'Lean' versus 'Rich' Data Sets: Forecasting during the Great Moderation and the Great Recession
https://www.bankofcanada.ca/2010/12/working-paper-2010-37/
We evaluate forecasts for the euro area in data-rich and ‘data-lean' environments by comparing three different approaches: a simple PMI model based on Purchasing Managers' Indices (PMIs), a dynamic factor model with euro area data, and a dynamic factor model with data from the euro plus data from national economies (pseudo-real time data).2010-12-23T12:55:41+00:00en'Lean' versus 'Rich' Data Sets: Forecasting during the Great Moderation and the Great Recession2010-12-23Econometric and statistical methodsInternational topicsWorking Paper 2010-37https://www.bankofcanada.ca/wp-content/uploads/2010/12/wp10-37.pdf‘Lean' versus ‘Rich' Data Sets: Forecasting during the Great Moderation and the Great RecessionMarco J. LombardiPhilipp MaierDecember 2010CC5C50C53EE3E37E4E47Semi-Structural Models for Inflation Forecasting
https://www.bankofcanada.ca/2010/12/working-paper-2010-34/
We propose alternative single-equation semi-structural models for forecasting inflation in Canada, whereby structural New Keynesian models are combined with time-series features in the data. Several marginal cost measures are used, including one that in addition to unit labour cost also integrates relative price shocks known to play an important role in open-economies.2010-12-20T11:43:12+00:00enSemi-Structural Models for Inflation Forecasting2010-12-20Econometric and statistical methodsInflation and pricesWorking Paper 2010-34https://www.bankofcanada.ca/wp-content/uploads/2010/12/wp10-34.pdfSemi-Structural Models for Inflation ForecastingMaral KichianRumler FabioPaul CorriganDecember 2010CC1C13C5C53EE3E31The Macroeconomic Implications of Changes in Bank Capital and Liquidity Requirements in Canada: Insights from the BoC-GEM-FIN
https://www.bankofcanada.ca/2010/12/discussion-paper-2010-16/
The authors use simulations within the BoC-GEM-FIN, the Bank of Canada's version of the Global Economy Model with financial frictions in both the demand and supply sides of the credit market, to investigate the macroeconomic implications of changing bank regulations on the Canadian economy.2010-12-15T10:57:46+00:00enThe Macroeconomic Implications of Changes in Bank Capital and Liquidity Requirements in Canada: Insights from the BoC-GEM-FIN2010-12-15Economic modelsFinancial institutionsFinancial stabilityInternational topicsDiscussion Paper 2010-16https://www.bankofcanada.ca/wp-content/uploads/2010/12/dp10-16.pdfThe Macroeconomic Implications of Changes in Bank Capital and Liquidity Requirements in Canada: Insights from the BoC-GEM-FINCarlos De ResendeAli DibNikita PerevalovDecember 2010EE3E32E4E44E5GG1G2On Fiscal Multipliers: Estimates from a Medium Scale DSGE Model
https://www.bankofcanada.ca/2010/11/working-paper-2010-30/
This paper contributes to the debate on fiscal multipliers, in the context of a structural model. I estimate a micro-founded dynamic stochastic general equilibrium model, that features a rich fiscal policy block and a transmission mechanism for government spending shocks, using Bayesian techniques for US data.2010-11-23T13:49:23+00:00enOn Fiscal Multipliers: Estimates from a Medium Scale DSGE Model2010-11-23Economic modelsFiscal policyWorking Paper 2010-30https://www.bankofcanada.ca/wp-content/uploads/2010/11/wp10-30.pdfOn Fiscal Multipliers: Estimates from a Medium Scale DSGE ModelSarah ZubairyNovember 2010CC1C11EE3E32E6E62HH3H30Capital Requirement and Financial Frictions in Banking: Macroeconomic Implications
https://www.bankofcanada.ca/2010/10/working-paper-2010-26/
The author develops a dynamic stochastic general-equilibrium model with an active banking sector, a financial accelerator, and financial frictions in the interbank and bank capital markets.2010-10-29T09:22:08+00:00enCapital Requirement and Financial Frictions in Banking: Macroeconomic Implications2010-10-29Business fluctuations and cyclesEconomic modelsFinancial marketsFinancial stabilityWorking Paper 2010-26https://www.bankofcanada.ca/wp-content/uploads/2010/10/wp10-26.pdfCapital Requirement and Financial Frictions in Banking: Macroeconomic ImplicationsAli DibOctober 2010EE3E32E4E44GG1Banks, Credit Market Frictions, and Business Cycles
https://www.bankofcanada.ca/2010/10/working-paper-2010-24/
The author proposes a micro-founded framework that incorporates an active banking sector into a dynamic stochastic general-equilibrium model with a financial accelerator.2010-10-21T13:46:46+00:00enBanks, Credit Market Frictions, and Business Cycles2010-10-21Business fluctuations and cyclesCredit and credit aggregatesEconomic modelsFinancial stabilityWorking Paper 2010-24https://www.bankofcanada.ca/wp-content/uploads/2010/10/wp10-24.pdfBanks, Credit Market Frictions, and Business CyclesAli DibOctober 2010EE3E32E4E44GG1Nowcasting the Global Economy
https://www.bankofcanada.ca/2010/09/discussion-paper-2010-12/
Forecasts of global economic activity and inflation are important inputs when conducting monetary policy in small open economies such as Canada. As part of the Bank of Canada's broad agenda to augment its short-term forecasting tools, the author constructs simple mixed-frequency forecasting equations for quarterly global output, imports, and inflation using the monthly global Purchasing Managers Index (PMI).2010-09-17T12:28:59+00:00enNowcasting the Global Economy2010-09-17Economic modelsInternational topicsDiscussion paper 2010-12https://www.bankofcanada.ca/wp-content/uploads/2010/09/dp10-12.pdfNowcasting the Global EconomyJames RossiterSeptember 2010EE3E37FF4F47Inventories in ToTEM
https://www.bankofcanada.ca/2010/08/discussion-paper-2010-9/
ToTEM – the Bank of Canada’s principal projection and policy-analysis model for the Canadian economy – is extended to include inventories. In the model, firms accumulate inventories of finished goods for their role in facilitating the demand for goods.2010-08-03T17:03:02+00:00enInventories in ToTEM2010-08-03Business fluctuations and cyclesEconomic modelsDiscussion paper 2010-9 https://www.bankofcanada.ca/wp-content/uploads/2010/09/dp10-9.pdfInventories in ToTEMOleksiy KryvtsovYang ZhangAugust 2010EE3E31E32Inventories, Stockouts, and ToTEM
https://www.bankofcanada.ca/2010/08/inventories-stockouts-and-totem/
Inventory investment is an important component of the Canadian business cycle. Despite its small average size – less than 1 per cent of output – it exhibits volatile procyclical fluctuations, accounting for almost one-third of output variance.2010-08-03T13:38:16+00:00enInventories, Stockouts, and ToTEM2010-08-03Business fluctuations and cyclesMonetary policy transmissionDiscussion Paper 2010-8https://www.bankofcanada.ca/wp-content/uploads/2010/08/dp10-8.pdfInventories, Stockouts, and ToTEMOleksiy KryvtsovYang ZhangJuly 2010EE3E31E32