Randall Wright - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T21:54:50+00:00Is Money Essential? An Experimental Approach
https://www.bankofcanada.ca/2023/07/staff-working-paper-2023-39/
Monetary theory says that money is essential if it helps to achieve better incentive-feasible outcomes. We test this in the laboratory.2023-07-28T14:43:21+00:00enIs Money Essential? An Experimental Approach2023-07-28Central bank researchEconomic modelsStaff Working Paper 2023-39https://www.bankofcanada.ca/wp-content/uploads/2023/07/swp2023-39.pdfStaff Working Paper 2023-39Janet Hua JiangPeter NormanDaniela PuzzelloBruno SultanumRandall WrightJuly 2023CC9C92EE4E5Endogenous Liquidity and Capital Reallocation
https://www.bankofcanada.ca/2022/06/staff-working-paper-2022-27/
We study economies where firms acquire capital in primary markets then retrade it in secondary markets after information on idiosyncratic productivity arrives. Our secondary markets incorporate bilateral trade with search, bargaining and liquidity frictions.2022-06-17T09:32:18+00:00enEndogenous Liquidity and Capital Reallocation2022-06-17Business fluctuations and cyclesMonetary policyStaff Working Paper 2022-27https://www.bankofcanada.ca/wp-content/uploads/2022/06/swp2022-27.pdfEndogenous Liquidity and Capital ReallocationWei CuiRandall WrightYu ZhuJune 2022EE2E22E4E44Frictional Capital Reallocation I: Ex Ante Heterogeneity
https://www.bankofcanada.ca/2019/01/staff-working-paper-2019-4/
This paper studies dynamic general equilibrium models where firms trade capital in frictional markets. Gains from trade arise due to ex ante heterogeneity: some firms are better at investment, so they build capital in the primary market; others acquire it in the secondary market.2019-01-14T10:07:35+00:00enFrictional Capital Reallocation I: Ex Ante Heterogeneity2019-01-14Monetary policyStaff Working Paper 2019-4https://www.bankofcanada.ca/wp-content/uploads/2019/01/swp2019-4.pdfFrictional Capital Reallocation I: Ex Ante HeterogeneityRandall WrightSylvia Xiaolin XiaoYu ZhuJanuary 2019EE2E22E4E44Innovation and Growth with Financial, and Other, Frictions
https://www.bankofcanada.ca/2011/11/working-paper-2011-25/
The generation and implementation of ideas, or knowledge, is crucial for economic performance. We study this process in a model of endogenous growth with frictions.2011-11-04T12:09:37+00:00enInnovation and Growth with Financial, and Other, Frictions2011-11-04Economic modelsPotential outputProductivityWorking Paper 2011-25https://www.bankofcanada.ca/wp-content/uploads/2011/11/wp2011-25.pdfInnovation and Growth with Financial, and Other, FrictionsJonathan ChiuCésaire MehRandall WrightOctober 2011EE4GG2OO3O4