Nooman Rebei

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The Welfare Implications of Fiscal Dominance

Staff Working Paper 2008-28 Carlos De Resende, Nooman Rebei
This paper studies the interdependence between fiscal and monetary policy in a DSGE model with sticky prices and non-zero trend inflation. We characterize the fiscal and monetary policies by a rule whereby a given fraction k of the government debt must be backed by the discounted value of current and future primary surpluses.

Technology Shocks and Business Cycles: The Role of Processing Stages and Nominal Rigidities

Staff Working Paper 2007-7 Louis Phaneuf, Nooman Rebei
This paper develops and estimates a dynamic general equilibrium model that realistically accounts for an input-output linkage between firms operating at different stages of processing. Firms face technological change which is specific to their processing stage and charge new prices according to stage-specific Calvo-probabilities.

The Macroeconomic Effects of Non-Zero Trend Inflation

Staff Working Paper 2006-34 Robert Amano, Steve Ambler, Nooman Rebei
The authors study the macroeconomic effects of non-zero trend inflation in a simple dynamic stochastic general-equilibrium model with sticky prices.

The Welfare Implications of Inflation versus Price-Level Targeting in a Two-Sector, Small Open Economy

Staff Working Paper 2006-12 Eva Ortega, Nooman Rebei
The authors analyze the welfare implications of simple monetary policy rules in the context of an estimated model of a small open economy for Canada with traded and non-traded goods, and with sticky prices and wages.

Has Exchange Rate Pass-Through Really Declined in Canada?

Staff Working Paper 2005-29 Hafedh Bouakez, Nooman Rebei
Several empirical studies suggest that exchange rate pass-through has declined in recent years in industrialized countries.

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