Hope Pioro

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The Complex Adjustment of the Canadian Economy to Lower Commodity Prices

In this analytical note, we provide a comprehensive assessment of the complex structural adjustment facing the Canadian economy following the commodity price decline since mid-2014. We quantify separately the impacts coming from the commodity sector restructuring and the broader effect of significantly lower terms of trade.

The Zero Bound on Nominal Interest Rates: Implications for the Optimal Monetary Policy in Canada

Staff Discussion Paper 2007-1 Claude Lavoie, Hope Pioro
The authors assess the performance of the Canadian economy under a variety of interest rate rules when the zero bound on nominal interest rates can bind. Their assessment is based on numerical simulations of a dynamic stochastic general-equilibrium model in a stochastic environment. Consistent with the literature, the authors find that the probability and consequences […]

Evaluating the Quarterly Projection Model: A Preliminary Investigation

Staff Working Paper 2002-20 Robert Amano, Kim McPhail, Hope Pioro, Andrew Rennison
This paper summarizes the results of recent research evaluating the Bank of Canada's Quarterly Projection Model (QPM).
Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models JEL Code(s): C, C5, C52, E, E1, E17, E3, E30, E37

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