James (Jim) C. MacGee - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T15:39:43+00:00The 2021–22 Surge in Inflation
https://www.bankofcanada.ca/2023/01/staff-discussion-paper-2023-3/
The rise in inflation in 2021–22 sparked a growing literature and debate over the causes of the surge as well as the near- and medium-term path for inflation. This review offers three key messages.2023-01-26T09:16:42+00:00enThe 2021–22 Surge in Inflation2023-01-26Inflation and pricesInflation targetsMonetary policyStaff Discussion Paper 2023-3https://www.bankofcanada.ca/wp-content/uploads/2023/01/sdp2023-3.pdfStaff Discussion Paper 2023-3Oleksiy KryvtsovJames (Jim) C. MacGeeLuis UzedaJanuary 2023EE3E31E5E52E58Consumer Credit with Over-optimistic Borrowers
https://www.bankofcanada.ca/2020/12/staff-working-paper-2020-57/
When lenders cannot directly identify behavioural and rational borrowers, they use type scoring to track the likelihood of a borrower’s type. This leads to the partial pooling of borrowers, which results in rational borrowers subsidizing borrowing costs for behavioural borrowers. This, in turn, reduces the effectiveness of regulatory policies that target mistakes by behavioural borrowers.2020-12-30T08:51:56+00:00enConsumer Credit with Over-optimistic Borrowers2020-12-30Credit and credit aggregatesCredit risk managementFinancial system regulation and policiesStaff Analytical Note 2020-57https://www.bankofcanada.ca/wp-content/uploads/2020/12/swp2020-57.pdfStaff Analytical Note 2020-57Florian ExlerIgor LivshitsJames (Jim) C. MacGeeMichèle TertiltDecember 2020EE2E21E4E49GG1G18KK3K35The Heterogeneous Effects of COVID-19 on Canadian Household Consumption, Debt and Savings
https://www.bankofcanada.ca/2020/11/staff-working-paper-2020-51/
The impact of COVID-19 on Canadian households’ debt and unplanned savings varies by household income. Low-income and high-income households accrued unplanned savings, while middle-income households tended to accumulate more debt.2020-11-27T10:28:16+00:00enThe Heterogeneous Effects of COVID-19 on Canadian Household Consumption, Debt and Savings2020-11-27Business fluctuations and cyclesCoronavirus disease (COVID-19)Financial stabilityStaff Working Paper 2020-51https://www.bankofcanada.ca/wp-content/uploads/2020/11/swp2020-51.pdfThe Heterogeneous Effects of COVID-19 on Canadian Household Consumption, Debt and SavingsJames (Jim) C. MacGeeThomas Michael PughKurt SeeNovember 2020EE2E21E24GG5G51Has the Inflation Process Changed? Selective Review of Recent Research on Inflation Dynamics
https://www.bankofcanada.ca/2020/11/staff-discussion-paper-2020-11/
From 2011 to 2019, inflation in Canada and advanced economies usually registered below inflation targets, spurring the debate on whether the inflation process has changed. This paper highlights emerging questions that will influence the conduct of monetary policy in Canada in the near term.2020-11-26T13:00:49+00:00enHas the Inflation Process Changed? Selective Review of Recent Research on Inflation Dynamics2020-11-26Central bank researchInflation and pricesMonetary policyStaff Discussion Paper 2020-11https://www.bankofcanada.ca/wp-content/uploads/2020/11/sdp2020-11.pdfOleksiy KryvtsovJames (Jim) C. MacGeeNovember 2020EE3E31E5E52Under the microscope
https://www.bankofcanada.ca/2020/03/under-the-microscope/
Evaluating our approach to monetary policy2020-03-06T09:00:06+00:00enUnder the microscope2020-03-06Price-Level Dispersion versus Inflation-Rate Dispersion: Evidence from Three Countries
https://www.bankofcanada.ca/2017/02/staff-working-paper-2017-3/
Inflation can affect both the dispersion of commodity-specific price levels across locations (relative price variability, RPV) and the dispersion of inflation rates (relative inflation variability, RIV). Some menu-cost models and models of consumer search suggest that the RIV-inflation relationship could differ from the RPV-inflation relationship.2017-02-06T08:30:24+00:00enPrice-Level Dispersion versus Inflation-Rate Dispersion: Evidence from Three Countries2017-02-06Inflation and pricesStaff Working Paper 2017-3https://www.bankofcanada.ca/wp-content/uploads/2017/02/swp2017-3.pdfPrice-Level Dispersion versus Inflation-Rate Dispersion: Evidence from Three CountriesDavid FieldingChristopher HajzlerJames (Jim) C. MacGeeFebruary 2017EE3E31E5E50