E44 - Financial Markets and the Macroeconomy - Bank of Canada
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2024-03-28T15:14:09+00:00
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Unemployment Fluctuations in a Small Open-Economy Model with Segmented Labour Markets: The Case of Canada
https://www.bankofcanada.ca/2013/11/working-paper-2013-40/
The recent financial crisis and subsequent recession have spurred great interest in the sources of unemployment fluctuations. Previous studies predominantly assume a single economy-wide labour market, and therefore abstract from differences across sectorspecific labour markets in the economy.
2013-11-14T14:32:31+00:00
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Unemployment Fluctuations in a Small Open-Economy Model with Segmented Labour Markets: The Case of Canada
2013-11-14
Business fluctuations and cycles
Economic models
Labour markets
Working Paper 2013-40
https://www.bankofcanada.ca/wp-content/uploads/2013/11/wp2013-40.pdf
Unemployment Fluctuations in a Small Open-Economy Model with Segmented Labour Markets: The Case of Canada
Yahong Zhang
November 2013
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The Safety of Government Debt
https://www.bankofcanada.ca/2013/10/working-paper-2013-34/
We examine the safety of government bonds in the presence of Knightian uncertainty amongst financial market participants. In our model, the information insensitivity of government bonds is driven by strategic complementarities across counterparties and the structure of trading relationships.
2013-10-01T10:44:04+00:00
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The Safety of Government Debt
2013-10-01
Economic models
Financial stability
International financial markets
Working Paper 2013-34
https://www.bankofcanada.ca/wp-content/uploads/2013/10/wp2013-34.pdf
The Safety of Government Debt
Kartik Anand
Prasanna Gai
October 2013
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Business Cycle Effects of Credit Shocks in a DSGE Model with Firm Defaults
https://www.bankofcanada.ca/2013/06/working-paper-2013-19/
This paper proposes a theoretical framework to analyze the relationship between credit shocks, firm defaults and volatility, and to study the impact of credit shocks on business cycle dynamics.
2013-06-11T10:24:38+00:00
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Business Cycle Effects of Credit Shocks in a DSGE Model with Firm Defaults
2013-06-11
Business fluctuations and cycles
Credit and credit aggregates
Economic models
Financial institutions
Working Paper 2013-19
https://www.bankofcanada.ca/wp-content/uploads/2013/06/wp2013-19.pdf
Business Cycle Effects of Credit Shocks in a DSGE Model with Firm Defaults
M. Hashem Pesaran
TengTeng Xu
June 2013
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An Equilibrium Analysis of the Rise in House Prices and Mortgage Debt
https://www.bankofcanada.ca/2013/04/working-paper-2013-9/
This paper examines the contributions of population aging, mortgage innovation and historically low interest rates to the sharp rise in U.S. house prices and mortgage debt between 1994 and 2005.
2013-04-22T13:28:44+00:00
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An Equilibrium Analysis of the Rise in House Prices and Mortgage Debt
2013-04-22
Asset pricing
Credit and credit aggregates
Economic models
Working Paper 2013-09
https://www.bankofcanada.ca/wp-content/uploads/2013/04/wp2013-09.pdf
An Equilibrium Analysis of the Rise in House Prices and Mortgage Debt
Shaofeng Xu
April 2013
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Countercyclical Bank Capital Requirement and Optimized Monetary Policy Rules
https://www.bankofcanada.ca/2013/04/working-paper-2013-8/
Using BoC-GEM-Fin, a large-scale DSGE model with real, nominal and financial frictions featuring a banking sector, we explore the macroeconomic implications of various types of countercyclical bank capital regulations. Results suggest that countercyclical capital requirements have a significant stabilizing effect on key macroeconomic variables, but mostly after financial shocks.
2013-04-08T11:40:14+00:00
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Countercyclical Bank Capital Requirement and Optimized Monetary Policy Rules
2013-04-08
Economic models
Financial institutions
Financial stability
International topics
Working Paper 2013-08
https://www.bankofcanada.ca/wp-content/uploads/2013/04/wp2013-08.pdf
Countercyclical Bank Capital Requirement and Optimized Monetary Policy Rules
Carlos De Resende
Ali Dib
René Lalonde
Nikita Perevalov
April 2013
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Real-financial Linkages through Loan Default and Bank Capital
https://www.bankofcanada.ca/2013/01/working-paper-2013-3/
Many studies in macroeconomics argue that financial frictions do not amplify the impacts of real shocks. This finding is based on models without endogenous default on loans and bank capital. Using a model featuring endogenous interactions between firm default and bank capital, this paper revisits the propagation mechanisms of real and financial shocks.
2013-01-10T09:54:09+00:00
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Real-financial Linkages through Loan Default and Bank Capital
2013-01-10
Financial institutions
Financial stability
Financial system regulation and policies
Interest rates
Working Paper 2013-3
https://www.bankofcanada.ca/wp-content/uploads/2013/01/wp2013-03.pdf
Real-financial Linkages through Loan Default and Bank Capital
Tamon Takamura
January 2013
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