D52 - Incomplete Markets - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T06:21:16+00:00Job Ladder and Business Cycles
https://www.bankofcanada.ca/2022/03/staff-working-paper-2022-14/
During downturns, workers get stuck in low-productivity jobs and wages remain stagnant. I build an heterogenous agent incomplete market model with a full job ladder that accounts for these facts. An adverse financial shock calibrated to the US Great Recession replicates the period’s slow recovery and missing disinflation.2022-03-21T15:05:02+00:00enJob Ladder and Business Cycles2022-03-21Business fluctuations and cyclesInflation and pricesLabour marketsProductivityStaff Working Paper 2022-14https://www.bankofcanada.ca/wp-content/uploads/2022/03/swp2022-14.pdfStaff Working Paper 2022-14Felipe AlvesMarch 2022DD3D31D5D52EE2E21E24E3E31E32Household Heterogeneity and the Performance of Monetary Policy Frameworks
https://www.bankofcanada.ca/2022/03/staff-working-paper-2022-12/
Consumption inequality and a low interest rate environment are two important trends in today’s economy. But the implications they may have—and how those implications interact—within different monetary policy frameworks are not well understood. We study the ranking of alternative frameworks that take these trends into account.2022-03-07T15:44:04+00:00enHousehold Heterogeneity and the Performance of Monetary Policy Frameworks2022-03-07Economic modelsMonetary policy and uncertaintyMonetary policy frameworkMonetary policy transmissionStaff Working Paper 2022-12https://www.bankofcanada.ca/wp-content/uploads/2022/03/swp2022-12.pdfStaff Working Paper 2022-12Edouard DjeutemMario HeAbeer RezaYang ZhangMarch 2022DD3D31D5D52EE2E21E3E31E5E52E58The Financial Origins of Non-fundamental Risk
https://www.bankofcanada.ca/2022/01/staff-working-paper-2022-4/
We explore the idea that the financial sector can be a source of non-fundamental risk to the rest of the economy. We also consider whether policy can be used to reduce this risk—either by increasing the supply of publicly backed safe assets or by reducing the demand for safe assets.2022-01-14T14:32:08+00:00enThe Financial Origins of Non-fundamental Risk2022-01-14Asset pricingFinancial marketsFinancial stabilityStaff Working Paper 2022-4https://www.bankofcanada.ca/wp-content/uploads/2022/01/swp2022-4.pdfStaff Working Paper 2022-4Sushant AcharyaKeshav DograSanjay SinghJanuary 2022DD5D52D8D84EE6E62GG1G10G12