Optimal Taylor Rules in an Estimated Model of a Small Open Economy
The authors compute welfare-maximizing Taylor rules in a dynamic general-equilibrium model of a small open economy.
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2030
result(s)
The U.S. New Keynesian Phillips Curve: An Empirical Assessment
Staff Working Paper 2004-35
Alain Guay,
Florian Pelgrin
The authors examine the evidence presented by Galí and Gertler (1999) and Galí, Gertler, and Lopez-Salido (2001, 2003) that the inflation dynamics in the United States can be well-described by the New Keynesian Phillips curve (NKPC).
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Econometric and statistical methods,
Inflation and prices
JEL Code(s):
C,
C1,
C13,
C5,
C52,
E,
E3,
E31
Market Valuation and Risk Assessment of Canadian Banks
Staff Working Paper 2004-34
Ying Liu,
Mingwei Yuan,
Eli Papakirykos
The authors apply the asset-valuation model developed by Rabinovitch (1989) to six publicly traded Canadian banks over the period 1982–2002.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Financial institutions
JEL Code(s):
G,
G1,
G12,
G2,
G21
Counterfeiting: A Canadian Perspective
Staff Working Paper 2004-33
John Chant
Counterfeiting is a significant public policy issue, because paper money, despite rumours of its demise, remains an important part of our payments system.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Bank notes
JEL Code(s):
E,
E5,
E58
Investment, Private Information, and Social Learning: A Case Study of the Semiconductor Industry
Staff Working Paper 2004-32
Rose Cunningham
Social learning models of investment provide an interesting explanation for sudden changes in investment behaviour.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Business fluctuations and cycles
JEL Code(s):
C,
C3,
C35,
E,
E3,
E32,
L,
L6,
L63
The New Keynesian Hybrid Phillips Curve: An Assessment of Competing Specifications for the United States
Staff Working Paper 2004-31
David Dupuis
Inflation forecasting is fundamental to monetary policy. In practice, however, economists are faced with competing goals: accuracy and theoretical consistency.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Economic models,
Inflation and prices
JEL Code(s):
E,
E3,
E31
The New Basel Capital Accord and the Cyclical Behaviour of Bank Capital
Staff Working Paper 2004-30
Mark Illing,
Graydon Paulin
The authors conduct a counterfactual simulation of the proposed rules under the new Basel Capital Accord (Basel II), including the revised treatment of expected and unexpected credit losses proposed by the Basel Committee in October 2003.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Financial institutions
JEL Code(s):
G,
G2,
G21,
G28,
K,
K2,
K23
Uninsurable Investment Risks
Staff Working Paper 2004-29
Césaire Meh,
Vincenzo Quadrini
The authors study a general-equilibrium economy in which agents have the ability to invest in a risky technology.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Economic models,
Financial institutions,
Financial markets
JEL Code(s):
D,
D3,
D31,
E,
E2,
E21,
G,
G0
Monetary and Fiscal Policies in Canada: Some Interesting Principles for EMU?
Staff Working Paper 2004-28
Virginie Traclet
Choosing a well-designed framework for fiscal and monetary policies is a challenge for economic authorities.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Fiscal policy,
Monetary policy framework
JEL Code(s):
E,
E5,
E58,
E6,
E61,
E63
Financial Market Imperfection, Overinvestment, and Speculative Precaution
Staff Working Paper 2004-27
Christian Calmès
The author uses panel data to assess the sensitivity of investment to cash flow in non-financial firms, taking into account the role their financial health plays in investment decisions.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Business fluctuations and cycles
JEL Code(s):
D,
D9,
D92,
E,
E2,
E22,
E4,
E44,
G,
G3,
G33