Brian O'Reilly

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Staff Working Papers

The Zero Bound on Nominal Interest Rates: How Important Is It?

Staff Working Paper 2001-6 David Amirault, Brian O'Reilly
This paper surveys the literature on the zero bound on the nominal interest rate. It addresses questions ranging from the conditions under which the zero bound on the nominal interest rate might occur to policy options to avoid or use to exit from such a situation. We discuss literature that examines historical and country evidence, and literature that uses models to generate evidence on this question.

Inflation and the Tax System in Canada: An Exploratory Partial-Equilibrium Analysis

Staff Working Paper 2000-18 Brian O'Reilly, Mylène Levac
This paper reports on an exploratory application to Canadian data of an approach pioneered by Martin Feldstein (1997, 1999). Feldstein finds that even at low inflation rates there are costs arising from the distortions introduced by the interaction of inflation with the taxation of income from capital (capital gains, dividends, and interest) in a less-than-perfectly-indexed tax system.
Content Type(s): Staff research, Staff working papers Topic(s): Inflation: costs and benefits JEL Code(s): E, E5, E6

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Technical Reports

Responses of Various Econometric Models to Selected Policy Shocks

Technical Report No. 38 Brian O'Reilly, Graydon Paulin, Philip Smith
In July, 1982 a seminar was held in Ottawa to compare the responses of nine major econometric models to a previously specified set of shocks to the Canadian economy. At the seminar, which was sponsored by the Bank of Canada and the Department of Finance, participants presented the results of their simulations and discussed the […]
Content Type(s): Staff research, Technical reports Topic(s): Economic models JEL Code(s): C, C5, C52, E, E1, E17

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