E62 - Fiscal Policy - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T15:11:33+00:00Optimal Monetary Policy According to HANK
https://www.bankofcanada.ca/2021/11/staff-working-paper-2021-55/
We study optimal monetary policy in an analytically tractable Heterogeneous Agent New Keynesian model. In the model, the central bank has an incentive to reduce consumption inequality in addition to keeping economic activity at its efficient level and inflation stable.2021-11-05T10:10:33+00:00enOptimal Monetary Policy According to HANK2021-11-05Economic modelsMonetary policyStaff Working Paper 2021-55https://www.bankofcanada.ca/wp-content/uploads/2021/11/swp2021-55.pdfStaff Working Paper 2021-55Sushant AcharyaEdouard ChalleKeshav DograNovember 2021EE2E21E3E30E5E52E6E62E63From He-Cession to She-Stimulus? The Labor Market Impact of Fiscal Policy Across Gender
https://www.bankofcanada.ca/2021/09/staff-working-paper-2021-42/
The effects of fiscal policy shocks on labour market outcomes across gender depend on the type of public expenditure. Women benefit most from increases in the government wage bill, while men are the main beneficiaries of higher investment spending.2021-09-10T08:51:03+00:00enFrom He-Cession to She-Stimulus? The Labor Market Impact of Fiscal Policy Across Gender2021-09-10Business fluctuations and cyclesFiscal policyLabour marketsStaff Working Paper 2021-42https://www.bankofcanada.ca/wp-content/uploads/2021/09/swp2021-42.pdfFrom He-Cession to She-Stimulus? The Labor Market Impact of Fiscal Policy Across GenderAlica Ida BonkLaure SimonSeptember 2021EE3E32E6E62JJ1J16J2J21Fiscal Spillovers: The Case of US Corporate and Personal Income Taxes
https://www.bankofcanada.ca/2021/08/staff-working-paper-2021-41/
How do changes to personal and corporate income tax rates in the United States affect its trading partners? Spillover effects from cuts in the two taxes differ. They are generally small and negative for corporate taxes, but sizable and positive for personal income taxes.2021-08-20T13:04:07+00:00enFiscal Spillovers: The Case of US Corporate and Personal Income Taxes2021-08-20Business fluctuations and cyclesEconometric and statistical methodsExchange rate regimesFiscal policyInternational topicsStaff Working Paper 2021-41https://www.bankofcanada.ca/wp-content/uploads/2021/08/swp2021-41.pdfMadeline HansonDaniela HauserRomanos PriftisAugust 2021EE3E32E6E62FF4F44HH2H20The uneven economic consequences of COVID 19: A structural analysis
https://www.bankofcanada.ca/2021/08/staff-analytical-note-2021-17/
Using a structural model, we study the economic consequences of the COVID-19 shock. The uneven consequences, such as higher unemployment among young households, amplify the negative implications for the macroeconomy, household vulnerabilities and consumption inequality. Government support programs have stimulated the economy and lowered inequality and medium-term vulnerabilities.2021-08-06T08:25:00+00:00enThe uneven economic consequences of COVID 19: A structural analysis2021-08-06ToTEM III: The Bank of Canada’s Main DSGE Model for Projection and Policy Analysis
https://www.bankofcanada.ca/2021/06/technical-report-119/
ToTEM III is the most recent generation of the Bank of Canada’s main dynamic stochastic general equilibrium model for projection and policy analysis. The model helps Bank staff tell clear and coherent stories about the Canadian economy’s current state and future evolution.2021-06-28T08:50:52+00:00enToTEM III: The Bank of Canada’s Main DSGE Model for Projection and Policy Analysis2021-06-28Business fluctuations and cyclesEconomic modelsHousingInterest ratesMonetary policyTechnical Report 2021-119https://www.bankofcanada.ca/wp-content/uploads/2021/06/tr119.pdfTechnical Report 2021-119Paul CorriganHélène DesgagnésJosé DorichVadym LepetyukWataru MiyamotoYang ZhangJune 2021EE1E17E2E20E3E30E4E40E5E50E6E62E65FF4F40F41GG5G51Monetary Policy, Trends in Real Interest Rates and Depressed Demand
https://www.bankofcanada.ca/2021/06/staff-working-paper-2021-27/
Over the last few decades, real interest rates have trended downward. The most common explanation is that this reflects depressed demand due to demographic, technological and other real factors. We explore the claim that these trends may have been amplified by certain features of monetary policy.2021-06-11T11:00:53+00:00enMonetary Policy, Trends in Real Interest Rates and Depressed Demand2021-06-11Debt managementEconomic modelsFiscal policyInflation and pricesInterest ratesMonetary policyStaff Working Paper 2021-27https://www.bankofcanada.ca/wp-content/uploads/2021/06/swp2021-27.pdfStaff Working Paper 2021-27Paul BeaudryCésaire MehJune 2021EE2E4E43E44E5E52E6E62E63HH3H6H63Shaping the future: Policy shocks and the GDP growth distribution
https://www.bankofcanada.ca/2021/05/staff-working-paper-2021-24/
Can central bank and government policies impact the risks around the outlook for GDP growth? We find that fiscal stimulus makes strong GDP growth more likely—even more so when monetary policy is constrained—rather than weak GDP growth less likely. Thus, fiscal stimulus should accelerate the recovery phase of the COVID-19 pandemic.2021-05-25T16:34:53+00:00enShaping the future: Policy shocks and the GDP growth distribution2021-05-25Central bank researchEconometric and statistical methodsFinancial stabilityFiscal policyMonetary policyStaff Working Paper 2021-24https://www.bankofcanada.ca/wp-content/uploads/2021/05/swp2021-24.pdfStaff Working Paper 2021-24Francois-Michel BoireThibaut DupreyAlexander UeberfeldtMay 2021CC3C32C5C53EE5E52E6E62Complementarities Between Fiscal Policy and Monetary Policy—Literature Review
https://www.bankofcanada.ca/2021/03/staff-discussion-paper-2021-4/
This paper surveys and summarizes the literature on how fiscal policy and monetary policy can complement each other in stabilizing economic activity.2021-03-15T10:01:57+00:00enComplementarities Between Fiscal Policy and Monetary Policy—Literature Review2021-03-15Fiscal policyMonetary policyStaff Discussion Paper 2021-4https://www.bankofcanada.ca/wp-content/uploads/2021/03/sdp2021-4.pdfStaff Discussion Paper 2021-4Wei DongGeoffrey R. DunbarChristian FriedrichDmitry MatveevRomanos PriftisLin ShaoMarch 2021EE5E52E58E6E62E63(Optimal) Monetary Policy with and without Debt
https://www.bankofcanada.ca/2021/01/staff-working-paper-2021-5/
How should policy be designed at high debt levels, when fiscal authorities have little room to adjust taxes? Assigning the monetary authority a role in achieving debt sustainability makes it less effective in stabilizing inflation and output.2021-01-26T12:06:01+00:00en(Optimal) Monetary Policy with and without Debt2021-01-26Economic modelsFiscal policyMonetary policyMonetary policy frameworkStaff Working Paper 2021-5https://www.bankofcanada.ca/wp-content/uploads/2021/01/swp2021-5.pdf(Optimal) Monetary Policy with and without DebtBoris ChafwehéRigas OikonomouRomanos PriftisLukas VogelJanuary 2021CC1C11EE3E31E5E52E58E6E62