Lynda Khalaf


Staff working papers

Structural Inflation Models with Real Wage Rigidities: The Case of Canada

Staff Working Paper 2009-21 Jean-Marie Dufour, Lynda Khalaf, Maral Kichian
Real wage rigidities have recently been proposed as a way of building intrinsic persistence in inflation within the context of New Keynesian Phillips Curves. Using two recent illustrative structural models, we evaluate empirically the importance of real wage rigidities in the data and the extent to which such models provide useful information regarding price stickiness.

Structural Multi-Equation Macroeconomic Models: Identification-Robust Estimation and Fit

Staff Working Paper 2009-19 Jean-Marie Dufour, Lynda Khalaf, Maral Kichian
Weak identification is likely to be prevalent in multi-equation macroeconomic models such as in dynamic stochastic general equilibrium setups. Identification difficulties cause the breakdown of standard asymptotic procedures, making inference unreliable.

Assessing Indexation-Based Calvo Inflation Models

Staff Working Paper 2009-7 Jean-Marie Dufour, Lynda Khalaf, Maral Kichian
Using identification-robust methods, the authors estimate and evaluate for Canada and the United States various classes of inflation equations based on generalized structural Calvo-type models. The models allow for different forms of frictions and vary in their assumptions regarding the type of price indexation adopted by firms.

Testing the Stability of the Canadian Phillips Curve Using Exact Methods

Staff Working Paper 2003-7 Lynda Khalaf, Maral Kichian
Postulating two different specifications for the Canadian Phillips curve (a purely backwardlooking model, and a partly backward-, partly forward-looking model), the authors test for structural breaks in the parameters of the equation. In each case, they account for the possibilities that: (i) breaks can be discrete, or continuous, and (ii) available data samples may be too small to justify using asymptotically valid structural-change tests.
Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods JEL Code(s): C, C1, C15, C5, C52, E, E3, E31, E37

Testing the Pricing-to-Market Hypothesis: Case of the Transportation Equipment Industry

Staff Working Paper 2000-8 Lynda Khalaf, Maral Kichian
Pricing-to-market (PTM) theory suggests that monopolistic firms which export adjust their destination-specific markups in reaction to exchange rate shocks. These adjustments limit changes in the price of their exports.

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