Staff discussion papers
Staff working papers
Survey of Price-Setting Behaviour of Canadian CompaniesIn many mainstream macroeconomic models, sticky prices play an important role in explaining the effects of monetary policy on the economy.
A Micro Approach to the Issue of Hysteresis in Unemployment: Evidence from the 19881990 Labour Market Activity SurveyThis paper uses a rich set of microeconomic labour market data—the 198890 Labour Market Activity Survey published by Statistics Canada—to test whether there is negative duration dependence in unemployment spells. It updates and extends similar work carried out by Jones (1995) who used the 198687 Labour Market Activity Survey.
Is Hysteresis a Characteristic of the Canadian Labour Market? A Tale of Two StudiesThis paper replicates and extends the econometric work of two previous studies of output-inflation dynamics in Canada -- Fortin (1991) and Cozier and Wilkinson (1991) -- in an attempt to reconcile their divergent conclusions.
Some Evidence on Hysteresis and the Costs of Disinflation in CanadaThis paper addresses the following questions: How large are the output costs of disinflation in Canada? Are these costs temporary, as predicted by natural-rate models, or are they permanent, as predicted by hysteresis models? Are the costs of disinflation higher at lower rates of inflation? Are they higher when the economy is at or below […]
Bank of Canada Review articles
December 23, 2004