Paul Levine - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T19:18:51+00:00Reconciling Jaimovich-Rebelo Preferences, Habit in Consumption and Labor Supply
https://www.bankofcanada.ca/2018/06/staff-working-paper-2018-26/
This note studies a form of a utility function of consumption with habit and leisure that (a) is compatible with long-run balanced growth, (b) hits a steady-state observed target for hours worked and (c) is consistent with micro-econometric evidence for the inter-temporal elasticity of substitution and the Frisch elasticity of labor supply.2018-06-22T11:45:52+00:00enReconciling Jaimovich-Rebelo Preferences, Habit in Consumption and Labor Supply2018-06-22Business fluctuations and cyclesEconomic modelsLabour marketsStaff Working Paper 2018-26https://www.bankofcanada.ca/wp-content/uploads/2018/06/swp2018-26.pdfReconciling Jaimovich-Rebelo Preferences, Habit in Consumption and Labor SupplyTom D. HoldenPaul LevineJonathan SwarbrickJune 2018EE2E21E24Credit Crunches from Occasionally Binding Bank Borrowing Constraints
https://www.bankofcanada.ca/2017/12/staff-working-paper-2017-57/
We present a model in which banks and other financial intermediaries face both occasionally binding borrowing constraints and costs of equity issuance. Near the steady state, these intermediaries can raise equity finance at no cost through retained earnings.2017-12-19T09:52:31+00:00enCredit Crunches from Occasionally Binding Bank Borrowing Constraints2017-12-19Business fluctuations and cyclesCredit and credit aggregatesEconomic modelsFinancial marketsStaff Working Paper 2017-57https://www.bankofcanada.ca/wp-content/uploads/2017/12/swp2017-57.pdfCredit Crunches from Occasionally Binding Bank Borrowing ConstraintsTom D. HoldenPaul LevineJonathan SwarbrickDecember 2017EE2E22E3E32E5E51GG2