Alexander Ueberfeldt - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T11:44:57+00:00Are Bank Bailouts Welfare Improving?
https://www.bankofcanada.ca/2021/11/staff-working-paper-2021-56/
Financial sector bailouts, while potentially beneficial during a crisis, might lead to excessive risk taking if anticipated. Taking expectations and aggregate risk implications into account, we show that bailouts can be welfare improving, but only if capital adequacy constraints are sufficiently tight.2021-11-09T15:51:59+00:00enAre Bank Bailouts Welfare Improving?2021-11-09Financial institutionsFinancial stabilityFinancial system regulation and policiesStaff Working Paper 2021-56https://www.bankofcanada.ca/wp-content/uploads/2021/11/swp2021-56.pdfStaff Working Paper 2021-56Malik ShukayevAlexander UeberfeldtNovember 2021DD6D62EE3E32E4E44GG0G01The 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 analysis2021-08-06Monetary Policy and the Persistent Aggregate Effects of Wealth Redistribution
https://www.bankofcanada.ca/2021/08/staff-working-paper-2021-38/
Monetary policy in the presence of nominal debt and labour supply heterogeneity creates a policy trade-off: a short-term economic stimulus leads to persistently reduced output over the medium term. Price-level targeting weakens this trade-off and is better able to stabilize inflation and output than inflation targeting.2021-08-06T07:40:09+00:00enMonetary Policy and the Persistent Aggregate Effects of Wealth Redistribution2021-08-06Monetary policy frameworkMonetary policy transmissionStaff Working Paper 2021-38https://www.bankofcanada.ca/wp-content/uploads/2021/08/swp2021-38.pdfMonetary Policy and the Persistent Aggregate Effects of Wealth RedistributionMartin KunclAlexander UeberfeldtAugust 2021EE2E21E5E50Shaping 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 2021CC3C32C5C53EE5E52E6E62