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Bank of Canada RSS Feedsen2024-03-29T07:36:32+00:00Canadian Policy Analysis Model: CPAM
https://www.bankofcanada.ca/1997/06/working-paper-1997-16/
This paper documents the structure and properties of the Canadian Policy Analysis Model (CPAM). CPAM is designed to provide a reasonably complete representation of the Canadian macro economy.1997-06-04T11:27:09+00:00enCanadian Policy Analysis Model: CPAM1997-06-04Economic modelsWorking Paper 1997-16https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp97-16.pdfCanadian Policy Analysis Model: CPAMRichard BlackDavid RoseJune 1997CC5C53EE1E17The Bank of Canada's New Quarterly Projection Model, Part 3. The Dynamic Model: QPM
https://www.bankofcanada.ca/1996/05/technical-report-no75/
The Bank of Canada's new Quarterly Projection Model, QPM, combines the short-term dynamic properties necessary to support regular economic projections with the consistent behavioural structure necessary for policy analysis.1996-05-01T13:52:27+00:00enThe Bank of Canada's New Quarterly Projection Model, Part 3. The Dynamic Model: QPM1996-05-01Economic modelsTechnical Report 75 https://www.bankofcanada.ca/wp-content/uploads/2010/01/tr75.pdfThe Dynamic Model: QPM, The Bank of Canada's New Quarterly Projection Model, Part 3Donald ColettiBenjamin HuntDavid RoseRobert TetlowMay 1996CC5C53EE1E17Inflation, Learning and Monetary Policy Regimes in The G-7 Economies
https://www.bankofcanada.ca/1995/06/working-paper-1995-6/
In this paper, the authors report estimates of two- and three-state Markov switching models applied to inflation, measured using consumer price indexes, in the G-7 countries. They report tests that show that two-state models are preferred to simple one-state representations of the data, and argue that three-state representations are more satisfactory than two-state representations for […]1995-06-01T11:09:38+00:00enInflation, Learning and Monetary Policy Regimes in The G-7 Economies1995-06-01Inflation and pricesWorking Paper 1995-6 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp95-6.pdfInflation, Learning and Monetary Policy Regimes in The G-7 EconomiesNicholas RickettsDavid RoseJune 1995Government Debt and Deficits In Canada: A Macro Simulation Analysis
https://www.bankofcanada.ca/1995/05/working-paper-1995-4/
This paper examines the macroeconomic implications of rising government debt in Canada and the short-run costs and long-run benefits of stemming the rise. The discussion begins with an evaluation of the long-run consequences of increasing government indebtedness, first based on the simple arithmetic of the government's long-run budget constraint, and then based on simulations of […]1995-05-02T10:49:13+00:00enGovernment Debt and Deficits In Canada: A Macro Simulation Analysis1995-05-02Fiscal policyWorking Paper 1995-4 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp95-4.pdfGovernment Debt and Deficits In Canada: A Macro Simulation AnalysisTiff MacklemDavid RoseRobert TetlowMay 1995The Bank of Canada's New Quarterly Projection Model, Part 2. A Robust Method for Simulating Forward-Looking Models
https://www.bankofcanada.ca/1995/02/technical-report-no73/
In this report, we describe methods for solving economic models when expectations are presumed to have at least some element of consistency with the predictions of the model itself. We present analytical results that establish the convergence properties of alternative solution procedures for linear models with unique solutions. Only one method is guaranteed to converge, […]1995-02-01T12:20:20+00:00enThe Bank of Canada's New Quarterly Projection Model, Part 2. A Robust Method for Simulating Forward-Looking Models1995-02-01Economic modelsTechnical Report 73 https://www.bankofcanada.ca/wp-content/uploads/2010/01/tr73.pdfA Robust Method for Simulating Forward-Looking Models, The Bank of Canada's New Quarterly Projection Model, Part 2John ArmstrongRichard BlackDouglas LaxtonDavid RoseFebruary 1995CC3C32C5C53The Bank of Canada's new Quarterly Projection Model (QPM): An introduction
https://www.bankofcanada.ca/wp-content/uploads/2010/06/r944a.pdf
This article provides an overview of the Bank of Canada's new economic model, the Quarterly Projection Model (QPM), which has been under development at the Bank since 1989.
The model has two roles. It is used to make economic projections, which are conducted quarterly and form an important basis for discussions of monetary policy between staff and senior management. QPM is also a research tool: it was developed to analyse important changes to the economy or macroeconomic policies which require a deeper understanding of long-term economic forces.
The model pays particular attention to factors shaping long-term equilibrium, such as stocks of wealth, capital, government debt and net foreign assets. Various sources of dynamics, including the adjustment of forward-looking expectations, operate to determine the transition path to equilibrium and the consistency of expectations.
The article discusses the history of QPM and earlier economic models at the Bank, and provides a simple overview of how the model works.1994-11-09T08:29:04+00:00enThe Bank of Canada's new Quarterly Projection Model (QPM): An introduction1994-11-09The Bank of Canada's New Quarterly Projection Model, Part 1. The Steady-State Model: SSQPM
https://www.bankofcanada.ca/1994/11/technical-report-no72/
This report is the first documenting the Bank of Canada's new model of the Canadian economy, the Quarterly Projection Model (QPM). QPM is used at the Bank of Canada for both economic projections and policy analysis. Here the authors focus on the model's long-run properties, describing SSQPM, a model of the steady state of QPM […]1994-11-01T12:12:25+00:00enThe Bank of Canada's New Quarterly Projection Model, Part 1. The Steady-State Model: SSQPM1994-11-01Economic modelsTechnical Report 72 https://www.bankofcanada.ca/wp-content/uploads/2010/01/tr72.pdfThe Steady-State Model: SSQPM. The Bank of Canada's new Quarterly Projection Model, Part 1Richard BlackDouglas LaxtonDavid RoseRobert TetlowNovember 1994CC5C51EE1E13Monetary Policy, Uncertainty and the Presumption of Linearity
https://www.bankofcanada.ca/1993/08/technical-report-no63/
This report shows that extreme conditions and volatility in markets are much more likely to result from systematic policy errors in gauging and responding to inflationary pressures in an economy than from unfortunate random shocks. We describe a simple model that incorporates the key features of the policy control process. We use two versions of […]1993-08-01T16:01:11+00:00enMonetary Policy, Uncertainty and the Presumption of Linearity1993-08-01Economic modelsInflation and pricesMonetary policy and uncertaintyTechnical Report 63https://www.bankofcanada.ca/wp-content/uploads/2010/10/tr63.pdfMonetary Policy, Uncertainty and the Presumption of Linearity Douglas LaxtonDavid RoseRobert TetlowAugust 1993EE5E52The NAIRU in Canada: Concepts, Determinants and Estimates
https://www.bankofcanada.ca/1988/12/technical-report-no50/
An important question that faces macroeconomic policy makers is whether the economy can absorb increases in aggregate demand without generating inflationary pressures. Many economists have found it useful to approach this issue by asking whether the economy is operating at a rate of unemployment consistent with inflation neither accelerating nor decelerating, all else being equal. […]1988-12-13T14:35:22+00:00enThe NAIRU in Canada: Concepts, Determinants and Estimates1988-12-13Labour marketsDavid RoseDecember 1988EE2E24The Structure of the Small Annual Model
https://www.bankofcanada.ca/1985/05/technical-report-no40/
This volume contains a detailed description of the structure and sectoral properties of the Bank of Canada's Small Annual Model, SAM. The SAM model, constructed in the Research Department of the Bank, is designed for medium- to long-term simulation. It is small by econometric model standards; the version described in this report has 25 stochastic […]1985-05-12T14:39:03+00:00enThe Structure of the Small Annual Model1985-05-12Interest ratesDavid RoseJack SelodyMay 1985CC5C51EE4