C68 - Computable General Equilibrium Models - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T09:31:58+00:00An Investigation into the Effects of Border Carbon Adjustments on the Canadian Economy
https://www.bankofcanada.ca/2023/05/staff-working-paper-2023-27/
We examine the economic implications of border carbon adjustments (BCAs) for Canada. We find that, BCAs, in the form of import tariffs, reduce Canada’s carbon leakage and improve its competitiveness when Canada is part of a broad coalition of BCA-implementing countries. Welfare also improves when tariff revenues are transferred to households.2023-05-29T11:11:35+00:00enAn Investigation into the Effects of Border Carbon Adjustments on the Canadian Economy2023-05-29Climate changeInternational topicsTrade integrationStaff Working Paper 2023-27https://www.bankofcanada.ca/wp-content/uploads/2023/05/swp2023-27.pdfAn Investigation into the Effects of Border Carbon Adjustments on the Canadian EconomyY.-H. Henry ChenHossein HosseiniCraig JohnstonSergey PaltsevMarie-Christine TremblayMay 2023CC6C68FF1HH2QQ3Q37Q5Learning in a Complex World: Insights from an OLG Lab Experiment
https://www.bankofcanada.ca/2023/02/staff-working-paper-2023-13/
This paper brings novel insights into group coordination and price dynamics in complex environments. We implement a chaotic overlapping-generation model in the lab and find that group coordination is always on the steady state or on the two-cycle and that behavior is non-monotonic.2023-02-21T13:34:14+00:00enLearning in a Complex World: Insights from an OLG Lab Experiment2023-02-21Business fluctuations and cyclesEconomic modelsStaff Working Paper 2023-13https://www.bankofcanada.ca/wp-content/uploads/2023/02/swp2023-13.pdfStaff Working Paper 2023-13Cars HommesStefanie J. HuberDaria MininaIsabelle SalleFebruary 2023CC6C62C68C9C91C92EE1E13E7E70GG1G12G4G41Quantum Monte Carlo for Economics: Stress Testing and Macroeconomic Deep Learning
https://www.bankofcanada.ca/2022/06/staff-working-paper-2022-29/
Using the quantum Monte Carlo algorithm, we study whether quantum computing can improve the run time of economic applications and challenges in doing so. We apply the algorithm to two models: a stress testing bank model and a DSGE model solved with deep learning. We also present innovations in the algorithm and benchmark it to classical Monte Carlo.2022-06-28T15:47:31+00:00enQuantum Monte Carlo for Economics: Stress Testing and Macroeconomic Deep Learning2022-06-28Business fluctuations and cyclesCentral bank researchEconometric and statistical methodsEconomic modelsFinancial stabilityStaff Working Paper 2022-29https://www.bankofcanada.ca/wp-content/uploads/2022/06/swp2022-29.pdfStaff Working Paper 2022-29Vladimir SkavyshSofia PriazhkinaDiego GualaThomas BromleyJune 2022CC1C15C6C61C63C68C7EE1E13GG1G17G2G21Transition Scenarios for Analyzing Climate-Related Financial Risk
https://www.bankofcanada.ca/2022/01/staff-discussion-paper-2022-1/
Climate transition scenarios clarify climate-related risks to our economy and financial system. This paper summarizes key results of Canada-relevant scenarios developed in a pilot project on climate risk by the Bank of Canada and the Office of the Superintendent of Financial Institutions.2022-01-13T14:04:27+00:00enTransition Scenarios for Analyzing Climate-Related Financial Risk2022-01-13Climate changeEconomic modelsFinancial stabilityInternational topicsStaff Discussion Paper 2022-1https://www.bankofcanada.ca/wp-content/uploads/2021/11/sdp2022-1.pdfY.-H. Henry ChenErik EnsOlivier GervaisHossein HosseiniCraig JohnstonSerdar KabacaMiguel MolicoSergey PaltsevAlex ProulxArgyn ToktamyssovJanuary 2022CC6C68DD5D58EE5E50OO4O44PP1P18QQ5Q54Scenario Analysis and the Economic and Financial Risks from Climate Change
https://www.bankofcanada.ca/2020/05/staff-discussion-paper-2020-3/
This paper adapts climate-economy models that have been applied in other contexts for use in climate-related scenario analysis. We consider illustrative scenarios for the global economy that could generate economic and financial risks. Our results suggest there are significant economic risks from climate change and the move to a low-carbon economy.2020-05-19T10:00:47+00:00enScenario Analysis and the Economic and Financial Risks from Climate Change2020-05-19Climate changeEconomic modelsFinancial stabilityInternational topicsErik EnsCraig JohnstonMay 2020CC6C68DD5D58EE5E50OO4O44PP1P18QQ4Q5Q54Q55IMPACT: The Bank of Canada’s International Model for Projecting Activity
https://www.bankofcanada.ca/2020/03/technical-report-116/
We present the structure and features of the International Model for Projecting Activity (IMPACT), a global semi-structural model used to conduct projections and policy analysis at the Bank of Canada. Major blocks of the model are developed based on the rational error correction framework of Kozicki and Tinsley (1999), which allows the model to strike a balance between theoretical structure and empirical performance.2020-03-06T11:09:46+00:00enIMPACT: The Bank of Canada’s International Model for Projecting Activity2020-03-06Business fluctuations and cyclesEconometric and statistical methodsEconomic modelsInternational topicsTechnical Report 116https://www.bankofcanada.ca/wp-content/uploads/2020/03/tr116.pdfTechnical Report 116Patrick BlagraveClaudia GodboutJustin-Damien GuénetteRené LalondeNikita PerevalovMarch 2020CC6C68EE2E27E3E37FF0F01F3F32F4F47Should Central Banks Worry About Nonlinearities of their Large-Scale Macroeconomic Models?
https://www.bankofcanada.ca/2017/06/staff-working-paper-2017-21/
How wrong could policymakers be when using linearized solutions to their macroeconomic models instead of nonlinear global solutions?2017-06-01T11:08:17+00:00enShould Central Banks Worry About Nonlinearities of their Large-Scale Macroeconomic Models?2017-06-01Business fluctuations and cyclesEconometric and statistical methodsEconomic modelsStaff Working Paper 2017-21https://www.bankofcanada.ca/wp-content/uploads/2017/06/swp2017-21.pdfShould Central Banks Worry About Nonlinearities of their Large-Scale Macroeconomic Models?Vadym LepetyukLilia MaliarSerguei MaliarJune 2017CC6C61C63C68EE3E31E5E52Introducing the Bank of Canada's Projection Model for the Global Economy
https://www.bankofcanada.ca/2010/03/technical-report-no99/
To complement its existing set of tools to analyze and forecast developments in the global economy, the Bank of Canada recently developed a version of the Global Projection Model (GPM) jointly with staff at the International Monetary Fund.2010-03-07T13:22:54+00:00enIntroducing the Bank of Canada's Projection Model for the Global Economy2010-03-07Business fluctuations and cyclesEconomic modelsInternational topicsTechnical Report 99 https://www.bankofcanada.ca/wp-content/uploads/2010/04/tr99.pdfIntroducing the Bank of Canada’s Projection Model for the Global EconomyJeannine BailliuPatrick BlagraveJames RossiterMarch 2010CC6C68EE2E27E3E37FF0F01The Bank of Canada's Version of the Global Economy Model (BoC-GEM)
https://www.bankofcanada.ca/2007/09/technical-report-no98/
The Bank of Canada's version of the Global Economy Model (BoC-GEM) is derived from the model created at the International Monetary Fund by Douglas Laxton (IMF) and Paolo Pesenti (Federal Reserve Bank of New York and National Bureau of Economic Research).2007-09-09T11:58:25+00:00enThe Bank of Canada's Version of the Global Economy Model (BoC-GEM)2007-09-09Business fluctuations and cyclesEconomic modelsInternational topicsTechnical Report 98 https://www.bankofcanada.ca/wp-content/uploads/2009/12/tr98.pdfThe Bank of Canada's Version of the Global Economy Model (BoC-GEM)René LalondeDirk MuirSeptember 2007CC6C68EE2E27E3E37FF3F32F4F47