Martin Harding - Latest - Bank of Canada
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2024-03-28T09:25:13+00:00
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Understanding Post-COVID Inflation Dynamics
https://www.bankofcanada.ca/2022/12/staff-working-paper-2022-50/
We propose a macroeconomic model with a nonlinear Phillips curve that has a flat slope when inflationary pressures are subdued and steepens when inflationary pressures are elevated. Our model can generate more sizable inflation surges due to cost-push and demand shocks than a standard linearized model when inflation is high.
2022-12-13T10:42:51+00:00
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Understanding Post-COVID Inflation Dynamics
2022-12-13
Business fluctuations and cycles
Central bank research
Coronavirus disease (COVID-19)
Economic models
Inflation and prices
Inflation: costs and benefits
Monetary policy
Monetary policy implementation
Staff Working Paper 2022-50
https://www.bankofcanada.ca/wp-content/uploads/2022/12/swp2022-50.pdf
Staff Working Paper 2022-50
Martin Harding
Jesper Lindé
Mathias Trabandt
December 2022
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Risk and State-Dependent Financial Frictions
https://www.bankofcanada.ca/2022/08/staff-working-paper-2022-37/
Using a nonlinear New Keynesian model with a financial accelerator, we show that financial frictions generate large state-dependent amplification effects. Shocks propagate more strongly in periods of financial stress. We propose an endogenous regime-switching DSGE framework for efficient estimation and improved model fit.
2022-08-09T13:00:13+00:00
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Risk and State-Dependent Financial Frictions
2022-08-09
Central bank research
Credit and credit aggregates
Financial stability
Monetary policy
Staff Working Paper 2022-37
https://www.bankofcanada.ca/wp-content/uploads/2022/08/swp2022-37.pdf
Staff Working Paper 2022-37
Martin Harding
Rafael Wouters
August 2022
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