Joel Wagner - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T11:15:37+00:00Average is Good Enough: Average-inflation Targeting and the ELB
https://www.bankofcanada.ca/2020/07/staff-working-paper-2020-31/
The Great Recession and current pandemic have focused attention on the constraint on nominal interest rates from the effective lower bound.2020-07-16T10:47:28+00:00enAverage is Good Enough: Average-inflation Targeting and the ELB2020-07-16Business fluctuations and cyclesEconomic modelsMonetary policy frameworkStaff Working Paper 2020-31https://www.bankofcanada.ca/wp-content/uploads/2020/07/swp2020-31.pdfStaff Working Paper 2020-31Robert AmanoStefano GnocchiSylvain LeducJoel WagnerJuly 2020EE3E31E32E5E52Downward Nominal Wage Rigidity in Canada: Evidence Against a “Greasing Effect”
https://www.bankofcanada.ca/2017/08/staff-working-paper-2017-31/
The existence of downward nominal wage rigidity (DNWR) has often been used to justify a positive inflation target. It is traditionally assumed that positive inflation could “grease the wheels” of the labour market by putting downward pressure on real wages, easing labour market adjustments during a recession.2017-08-03T11:47:33+00:00enDownward Nominal Wage Rigidity in Canada: Evidence Against a “Greasing Effect”2017-08-03Inflation targetsLabour marketsStaff Working Paper 2017-31https://www.bankofcanada.ca/wp-content/uploads/2017/08/swp2017-31.pdfDownward Nominal Wage Rigidity in Canada: Evidence Against a “Greasing Effect”Joel WagnerAugust 2017EE2E24E5E52Anticipated Technology Shocks: A Re‐Evaluation Using Cointegrated Technologies
https://www.bankofcanada.ca/2017/04/staff-working-paper-2017-11/
Two approaches have been taken in the literature to evaluate the relative importance of news shocks as a source of business cycle volatility. The first is an empirical approach that performs a structural vector autoregression to assess the relative importance of news shocks, while the second is a structural-model-based approach.2017-04-04T11:59:20+00:00enAnticipated Technology Shocks: A Re‐Evaluation Using Cointegrated Technologies2017-04-04Business fluctuations and cyclesProductivityStaff Working Paper 2017-11https://www.bankofcanada.ca/wp-content/uploads/2017/04/swp2017-11.pdfAnticipated Technology Shocks: A Re‐Evaluation Using Cointegrated TechnologiesJoel WagnerApril 2017EE3E32Agency Costs, Risk Shocks and International Cycles
https://www.bankofcanada.ca/2016/01/staff-working-paper-2016-2/
We add agency costs as in Carlstrom and Fuerst (1997) into a two-country, two-good international business-cycle model. In our model, changes in the relative price of investment arise endogenously.2016-01-21T11:27:07+00:00enAgency Costs, Risk Shocks and International Cycles2016-01-21Business fluctuations and cyclesInternational topicsStaff Working Paper 2016-2https://www.bankofcanada.ca/wp-content/uploads/2016/01/swp2016-2.pdfAgency Costs, Risk Shocks and International CyclesMarc-André LetendreJoel WagnerJanuary 2016EE2E22E3E32E4E44FF4F44The Endogenous Relative Price of Investment
https://www.bankofcanada.ca/2015/07/working-paper-2015-30/
This paper takes a full-information model-based approach to evaluate the link between investment-specific technology and the inverse of the relative price of investment. The two-sector model presented includes monopolistic competition where firms can vary the markup charged on their product depending on the number of firms competing.2015-07-31T11:15:13+00:00enThe Endogenous Relative Price of Investment2015-07-31Business fluctuations and cyclesWorking Paper 2015-30https://www.bankofcanada.ca/wp-content/uploads/2015/07/wp2015-30.pdfThe Endogenous Relative Price of InvestmentJoel WagnerJuly 2015EE3E32LL1L11L16