Andrew Rennison - Latest
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A Structural Small Open-Economy Model for Canada
The authors develop a small open-economy dynamic stochastic general-equilibrium (DSGE) model in an attempt to understand the dynamic relationships in Canadian macroeconomic data. -
Comparing Alternative Output-Gap Estimators: A Monte Carlo Approach
The author evaluates the ability of a variety of output-gap estimators to accurately measure the output gap in a model economy. A small estimated model of the Canadian economy is used to generate artificial data. -
Evaluating the Quarterly Projection Model: A Preliminary Investigation
This paper summarizes the results of recent research evaluating the Bank of Canada's Quarterly Projection Model (QPM).