Douglas Laxton - Latest - Bank of Canada
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2024-03-28T15:54:37+00:00
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Oil Price Movements and the Global Economy: A Model-Based Assessment
https://www.bankofcanada.ca/2007/05/working-paper-2007-34/
We develop a five-region version (Canada, an oil exporter, the United States, emerging Asia and Japan plus the euro area) of the Global Economy Model (GEM) encompassing production and trade of crude oil, and use it to study the international transmission mechanism of shocks that drive oil prices.
2007-05-04T12:23:07+00:00
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Oil Price Movements and the Global Economy: A Model-Based Assessment
2007-05-04
Economic models
Inflation and prices
International topics
Working Paper 2007-34
https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp07-34.pdf
Oil Price Movements and the Global Economy: A Model-Based Assessment
Selim Elekdag
René Lalonde
Douglas Laxton
Dirk Muir
Paolo Pesenti
May 2007
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E66
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F47
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The Bank of Canada's New Quarterly Projection Model, Part 2. A Robust Method for Simulating Forward-Looking Models
https://www.bankofcanada.ca/1995/02/technical-report-no73/
In this report, we describe methods for solving economic models when expectations are presumed to have at least some element of consistency with the predictions of the model itself. We present analytical results that establish the convergence properties of alternative solution procedures for linear models with unique solutions. Only one method is guaranteed to converge, […]
1995-02-01T12:20:20+00:00
en
The Bank of Canada's New Quarterly Projection Model, Part 2. A Robust Method for Simulating Forward-Looking Models
1995-02-01
Economic models
Technical Report 73
https://www.bankofcanada.ca/wp-content/uploads/2010/01/tr73.pdf
A Robust Method for Simulating Forward-Looking Models, The Bank of Canada's New Quarterly Projection Model, Part 2
John Armstrong
Richard Black
Douglas Laxton
David Rose
February 1995
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C3
C32
C5
C53
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The Bank of Canada's New Quarterly Projection Model, Part 1. The Steady-State Model: SSQPM
https://www.bankofcanada.ca/1994/11/technical-report-no72/
This report is the first documenting the Bank of Canada's new model of the Canadian economy, the Quarterly Projection Model (QPM). QPM is used at the Bank of Canada for both economic projections and policy analysis. Here the authors focus on the model's long-run properties, describing SSQPM, a model of the steady state of QPM […]
1994-11-01T12:12:25+00:00
en
The Bank of Canada's New Quarterly Projection Model, Part 1. The Steady-State Model: SSQPM
1994-11-01
Economic models
Technical Report 72
https://www.bankofcanada.ca/wp-content/uploads/2010/01/tr72.pdf
The Steady-State Model: SSQPM. The Bank of Canada's new Quarterly Projection Model, Part 1
Richard Black
Douglas Laxton
David Rose
Robert Tetlow
November 1994
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C5
C51
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E1
E13
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Monetary Policy, Uncertainty and the Presumption of Linearity
https://www.bankofcanada.ca/1993/08/technical-report-no63/
This report shows that extreme conditions and volatility in markets are much more likely to result from systematic policy errors in gauging and responding to inflationary pressures in an economy than from unfortunate random shocks. We describe a simple model that incorporates the key features of the policy control process. We use two versions of […]
1993-08-01T16:01:11+00:00
en
Monetary Policy, Uncertainty and the Presumption of Linearity
1993-08-01
Economic models
Inflation and prices
Monetary policy and uncertainty
Technical Report 63
https://www.bankofcanada.ca/wp-content/uploads/2010/10/tr63.pdf
Monetary Policy, Uncertainty and the Presumption of Linearity
Douglas Laxton
David Rose
Robert Tetlow
August 1993
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E5
E52
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A Simple Multivariate Filter for the Measurement of Potential Output
https://www.bankofcanada.ca/1992/06/technical-report-no59/
This paper examines techniques that have been used to estimate potential output and finds them wanting. We suggest a simple multivariate-filtering technique that is a generalization of the Hodrick-Prescott univariate filter. In univariate filters, only information about a variable itself is used in eliminating noise in order to obtain an estimate of the underlying trend. […]
1992-06-14T11:02:56+00:00
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A Simple Multivariate Filter for the Measurement of Potential Output
1992-06-14
Potential output
Douglas Laxton
Robert Tetlow
June 1992
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C1
C15
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E2
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Government Debt in an Open Economy
https://www.bankofcanada.ca/1992/01/technical-report-no58/
This paper introduces the CORE model, a prototype for a new quarterly model of the Canadian economy, designed for projections and policy analysis with focus beyond the very short run. The model has a clearly defined equilibrium and explicit adjustment mechanisms, primarily through relative prices, that are dynamically stable. Overlaid on a neo-classical growth model […]
1992-01-13T16:20:41+00:00
en
Government Debt in an Open Economy
1992-01-13
Fiscal policy
Douglas Laxton
Robert Tetlow
January 1992
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C5
C53
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F3
F32
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H3
H30
H6
H60