E4 - Money and Interest Rates - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T23:36:18+00:00What Are the Macroeconomic Effects of High-Frequency Uncertainty Shocks
https://www.bankofcanada.ca/2016/05/staff-working-paper-2016-25/
This paper evaluates the effects of high-frequency uncertainty shocks on a set of low-frequency macroeconomic variables that are representative of the U.S. economy. Rather than estimating models at the same common low-frequency, we use recently developed econometric models, which allows us to deal with data of different sampling frequencies.2016-05-26T11:38:49+00:00enWhat Are the Macroeconomic Effects of High-Frequency Uncertainty Shocks2016-05-26Business fluctuations and cyclesEconometric and statistical methodsStaff Working Paper 2016-25https://www.bankofcanada.ca/wp-content/uploads/2016/05/swp2016-25.pdfWhat Are the Macroeconomic Effects of High-Frequency Uncertainty ShocksLaurent FerraraPierre GuérinMay 2016CC3C32EE3E32E4E44Estimating Canada’s Effective Lower Bound
https://www.bankofcanada.ca/wp-content/uploads/2016/05/boc-review-spring16-witmer.pdf
Recently, the Bank of Canada has estimated the effective lower bound (ELB) on its policy interest rate to be about -50 basis points. This article outlines the analysis that underpins that estimate by quantifying the costs of storing and using cash in Canada. It also explores how some international markets have adapted to negative interest rates, issues surrounding their implementation, as well as their transmission to other interest rates in the economy. Finally, it discusses theoretical ideas on how the ELB could be reduced further.2016-05-16T08:53:53+00:00enEstimating Canada’s Effective Lower Bound2016-05-16The Micro and Macro of Downward Nominal Wage Rigidity
https://www.bankofcanada.ca/wp-content/uploads/2016/05/boc-review-spring16-amano.pdf
The article examines the extent of downward nominal wage rigidity in Canada and its implications for monetary policy. The authors ask whether its existence is a sufficient argument for a higher inflation target if concerns about the effective lower bound are adequately addressed.2016-05-16T08:51:38+00:00enThe Micro and Macro of Downward Nominal Wage Rigidity2016-05-16