Kimberly Beaton

Author

Staff discussion papers

Financial Spillovers Across Countries: The Case of Canada and the United States

Staff Discussion Paper 2011-1 Kimberly Beaton, Brigitte Desroches
The authors investigate financial spillovers across countries with an emphasis on the effect of shocks to financial conditions in the United States on financial conditions and economic activity in Canada. These questions are addressed within a global vector autoregression model.
Content Type(s): Staff research, Staff discussion papers Topic(s): Business fluctuations and cycles, Economic models, Financial stability, International topics JEL Code(s): E, E2, E27, E3, E32, F, F3, F36, F4, F40

Prospects for Global Current Account Rebalancing

Staff Discussion Paper 2010-4 Kimberly Beaton, Carlos De Resende, René Lalonde, Stephen Snudden
The authors use the Bank of Canada's version of the Global Economy Model, a multi-country, multi-sector dynamic stochastic general-equilibrium model with an active banking system (the BoC-GEM-FIN), to study the evolution of global current account balances following the recent global financial crisis.
Content Type(s): Staff research, Staff discussion papers Topic(s): Balance of payments and components, Business fluctuations and cycles, International topics, Recent economic and financial developments JEL Code(s): E, E2, E21, F, F0, F01, F3, F32

A Financial Conditions Index for the United States

Staff Discussion Paper 2009-11 Kimberly Beaton, René Lalonde, Corinne Luu
The financial crisis of 2007–09 has highlighted the importance of developments in financial conditions for real economic activity. The authors estimate the effect of current and past shocks to financial variables on U.S. GDP growth by constructing two growthbased financial conditions indexes (FCIs) that measure the contribution to quarterly (annualized) GDP growth from financial conditions.
Content Type(s): Staff research, Staff discussion papers Topic(s): Business fluctuations and cycles, Monetary and financial indicators, Monetary conditions index, Recent economic and financial developments JEL Code(s): E, E3, E32, E4, E44, E47, E5, E51

The Global Effects of U.S. Fiscal Policy

Staff Discussion Paper 2008-8 Kimberly Beaton
The author examines the global impact of U.S. fiscal policy using the Bank of Canada's Global Economy Model (Lalonde and Muir 2007). In particular, she examines the global macroeconomic implications of the expiration of major tax cuts in the United States and of expected increases in U.S. entitlement program expenditures.
Content Type(s): Staff research, Staff discussion papers Topic(s): Fiscal policy, International topics, Regional economic developments JEL Code(s): H, H0, H2, H3

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Staff working papers

The Propagation of U.S. Shocks to Canada: Understanding the Role of Real-Financial Linkages

Staff Working Paper 2010-40 Kimberly Beaton, René Lalonde, Stephen Snudden
This paper examines the transmission of U.S. real and financial shocks to Canada and, in particular, the role of financial frictions in affecting the transmission of these shocks. These questions are addressed within the Bank of Canada's Global Economy Model (de Resende et al. forthcoming), a dynamic stochastic general-equilibrium model with an active banking sector and a detailed role for financial frictions.
Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Economic models, International topics JEL Code(s): E, E2, E21, E27, E3, E32, F, F3, F36, F4, F40

Time Variation in Okun's Law: A Canada and U.S. Comparison

Staff Working Paper 2010-7 Kimberly Beaton
This article investigates the stability of Okun's law for Canada and the United States using a time varying parameter approach. Time variation is modeled as driftless random walks and is estimated using the median unbiased estimator approach developed by Stock and Watson (1998).
Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Labour markets JEL Code(s): E, E2, E24, J, J0, J00

Credit Constraints and Consumer Spending

Staff Working Paper 2009-25 Kimberly Beaton
This paper examines the relationship between aggregate consumer spending and credit availability in the United States. The author finds that consumer spending falls (rises) in response to a reduction (increase) in credit availability.
Content Type(s): Staff research, Staff working papers Topic(s): Credit and credit aggregates, Domestic demand and components, Recent economic and financial developments JEL Code(s): E, E2, E21, E27, E4, E44, E5, E51, E58

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Bank publications

Bank of Canada Review articles

June 18, 2008

House Prices and Consumer Spending

Bank of Canada Review - Summer 2008 Kimberly Beaton, Sylvie Morin, Ilan Kolet
Flood, Morin, and Kolet examine the role of house prices in household consumption decisions. Considering a group of advanced economies, the authors find that the strength of the link between house prices and consumer spending depends on the institutional features of national mortgage markets.
Content Type(s): Publications, Bank of Canada Review articles Topic(s): Domestic demand and components, International topics, Recent economic and financial developments

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