F4 - Macroeconomic Aspects of International Trade and Finance - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T12:16:11+00:00The Propagation of Regional Shocks in Housing Markets: Evidence from Oil Price Shocks in Canada
https://www.bankofcanada.ca/2018/11/staff-working-paper-2018-56/
How do global oil price shocks spread through Canada’s economy? With Canada’s regionally diverse economy in mind, we explore the implications of oil price shocks for Canadian housing markets and regional economies. We show that the belief that oil price shocks only matter in oil-rich regions is false.2018-11-27T08:25:21+00:00enThe Propagation of Regional Shocks in Housing Markets: Evidence from Oil Price Shocks in Canada2018-11-27Econometric and statistical methodsHousingInternational topicsLabour marketsRegional economic developmentsStaff Working Paper 2018-56https://www.bankofcanada.ca/wp-content/uploads/2018/11/swp2018-56.pdfThe Propagation of Regional Shocks in Housing Markets: Evidence from Oil Price Shocks in CanadaLutz KilianXiaoqing ZhouNovember 2018FF4F43QQ3Q33Q4Q43RR1R12R3R31Responding to the First Era of Globalization: Canadian Trade Policy, 1870–1913
https://www.bankofcanada.ca/2018/08/staff-working-paper-2018-42/
In this paper we document Canada’s trade policy response to late-nineteenth- and earlytwentieth-century globalization. We link newly digitized annual product-specific data on the value of Canadian imports and duties paid from 1870–1913 to establishment-specific production and location information drawn from the manuscripts of the 1871 industrial census.2018-08-27T14:15:38+00:00enResponding to the First Era of Globalization: Canadian Trade Policy, 1870–19132018-08-27Economic modelsInternational topicsTrade integrationStaff Working Paper 2018-42https://www.bankofcanada.ca/wp-content/uploads/2018/08/swp2018-42.pdfResponding to the First Era of Globalization: Canadian Trade Policy, 1870–1913Ian KeayPatrick AlexanderAugust 2018FF1F13F14F4F42F6F60NN7N71Decomposing Canada’s Market Shares: An Update
https://www.bankofcanada.ca/2018/08/staff-analytical-note-2018-26/
Building on the shift-share analysis of Barnett and Charbonneau (2015), this note decomposes Canada’s market shares in the United States, Europe and China for imports of non-energy goods into competitiveness, preference shifts and an interaction term. We find that, despite the depreciation of the dollar, Canada continued to lose market share over 2014–17 (around 0.4 percentage points lost per year on average over four years).2018-08-27T09:50:58+00:00enDecomposing Canada’s Market Shares: An Update2018-08-27The Extensive Margin of Trade and Monetary Policy
https://www.bankofcanada.ca/2018/07/staff-working-paper-2018-37/
This paper studies the effects of monetary policy shocks on firms’ participation in exporting. We develop a two-country dynamic stochastic general equilibrium model in which heterogeneous firms
make forward-looking decisions on whether to participate in the export market and prices are staggered across firms and time.2018-07-26T13:00:38+00:00enThe Extensive Margin of Trade and Monetary Policy2018-07-26Business fluctuations and cyclesEconomic modelsFirm dynamicsInternational topicsMonetary policyStaff Working Paper 2018-37https://www.bankofcanada.ca/wp-content/uploads/2018/07/swp2018-37.pdfYuko ImuraMalik ShukayevJuly 2018EE5E52FF1F12F4F44Sources of Borrowing and Fiscal Multipliers
https://www.bankofcanada.ca/2018/07/staff-working-paper-2018-32/
This paper finds that debt-financed government spending multipliers vary considerably depending on the location of the debt buyer. In a sample of 33 countries, we find that government spending multipliers are larger when government purchases are financed by issuing debt to foreign investors (non-residents), compared with when government purchases are financed by issuing debt to home investors (residents).2018-07-18T09:20:24+00:00enSources of Borrowing and Fiscal Multipliers2018-07-18Debt managementEconomic modelsFiscal policyInternational financial marketsStaff Working Paper 2018-32https://www.bankofcanada.ca/wp-content/uploads/2018/07/swp2018-32.pdfSources of Borrowing and Fiscal MultipliersRomanos PriftisSrecko ZimicJuly 2018EE2E6E62FF4F41HH3The Neutral Rate in Canada: 2018 Estimates
https://www.bankofcanada.ca/2018/07/staff-analytical-note-2018-22/
The neutral nominal policy rate serves as a benchmark for assessing the degree of monetary stimulus and provides a medium- to long-run anchor for the policy rate. Since quantitative measures of the neutral rate are subject to considerable uncertainty, Bank staff rely on four different approaches to estimate the Canadian neutral rate.2018-07-03T13:05:22+00:00enThe Neutral Rate in Canada: 2018 Estimates2018-07-03The Macroeconomic Effects of Quantitative Easing in the Euro Area: Evidence from an Estimated DSGE Model
https://www.bankofcanada.ca/2018/03/staff-working-paper-2018-11/
This paper estimates an open-economy dynamic stochastic general equilibrium model with Bayesian techniques to analyse the macroeconomic effects of the European Central Bank’s (ECB’s) quantitative easing (QE) programme. Using data on government debt stocks and yields across maturities, we identify the parameter governing portfolio adjustment in the private sector.2018-03-09T11:35:21+00:00enThe Macroeconomic Effects of Quantitative Easing in the Euro Area: Evidence from an Estimated DSGE Model2018-03-09Economic modelsInterest ratesMonetary policy transmissionStaff Working Paper 2018-11https://www.bankofcanada.ca/wp-content/uploads/2018/03/swp2018-11.pdfThe Macroeconomic Effects of Quantitative Easing in the Euro Area: Evidence from an Estimated DSGE ModelStefan HohbergerRomanos PriftisLukas VogelMarch 2018EE4E44E5E52FF4F41Modeling Fluctuations in the Global Demand for Commodities
https://www.bankofcanada.ca/2018/01/staff-working-paper-2018-4/
It is widely understood that the real price of globally traded commodities is determined by the forces of demand and supply. One of the main determinants of the real price of commodities is shifts in the demand for commodities associated with unexpected fluctuations in global real economic activity.2018-01-19T15:19:56+00:00enModeling Fluctuations in the Global Demand for Commodities2018-01-19Econometric and statistical methodsInternational topicsStaff Working Paper 2018-4https://www.bankofcanada.ca/wp-content/uploads/2018/01/swp2018-4.pdfModeling Fluctuations in the Global Demand for CommoditiesLutz KilianXiaoqing ZhouJanuary 2018FF4F44QQ1Q11Q3Q31Q4Q41Q43Capital-Goods Imports and US Growth
https://www.bankofcanada.ca/2018/01/staff-working-paper-2018-1/
Capital-goods imports have become an increasing source of growth for the U.S. economy. To understand this phenomenon, we build a neoclassical growth model with international trade in capital goods in which agents face exogenous paths of total factor and investment-specific productivity measures.2018-01-04T08:09:46+00:00enCapital-Goods Imports and US Growth2018-01-04ProductivityTrade integrationStaff Working Paper 2018-1https://www.bankofcanada.ca/wp-content/uploads/2018/01/swp2018-1.pdfCapital-Goods Imports and US GrowthMichele CavalloAnthony LandryJanuary 2018EE2FF2F4OO3O4