Nominal Rigidities and Monetary Policy in Canada Since 1981
This paper develops and estimates a dynamic, stochastic, general-equilibrium model with price and wage stickiness to analyze monetary policy in Canada.
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1989
result(s)
Financial Structure and Economic Growth: A Non-Technical Survey
Staff Working Paper 2002-24
Veronika Dolar,
Césaire Meh
There is a large body of literature that studies the relationship between financial structure (that is, the degree to which the financial system is either market- or intermediary-based) and long-run economic growth.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Development economics,
Economic models,
Financial institutions,
Financial markets,
Financial services
JEL Code(s):
F,
F3,
F36,
G,
G0,
G00,
G1,
G14,
G2,
G21,
K,
K2,
K22,
O,
O1,
O16
How to Improve Inflation Targeting at the Bank of Canada
Staff Working Paper 2002-23
Nicholas Rowe
This paper shows that if the Bank of Canada is optimally adjusting its monetary policy instrument in response to inflation indicators to target 2 per cent inflation at a two-year horizon, then deviations of inflation from 2 per cent represent the Bank's forecast errors, and should be uncorrelated with its information set, which includes two-year lagged values of the instrument and the indicators. Positive or negative correlations are evidence of systematic errors in monetary policy.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Inflation targets,
Monetary and financial indicators,
Monetary policy implementation
JEL Code(s):
E,
E5
The Usefulness of Consumer Confidence Indexes in the United States
Staff Working Paper 2002-22
Brigitte Desroches,
Marc-André Gosselin
This paper assesses the usefulness of consumer confidence indexes in forecasting aggregate consumer spending in the United States.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Domestic demand and components,
Economic models,
International topics
JEL Code(s):
D,
D1,
D12,
E,
E2,
E21,
E27
Entrepreneurial Risk, Credit Constraints, and the Corporate Income Tax: A Quantitative Exploration
Staff Working Paper 2002-21
Césaire Meh
This paper describes the positive effect that corporate income tax has on capital formation in the presence of liquidity constraints and uninsurable risk.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Economic models,
Fiscal policy
JEL Code(s):
D,
D3,
D31,
E,
E6,
E62,
H,
H2,
H20,
H23
Evaluating the Quarterly Projection Model: A Preliminary Investigation
Staff Working Paper 2002-20
Robert Amano,
Kim McPhail,
Hope Pioro,
Andrew Rennison
This paper summarizes the results of recent research evaluating the Bank of Canada's Quarterly Projection Model (QPM).
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Economic models
JEL Code(s):
C,
C5,
C52,
E,
E1,
E17,
E3,
E30,
E37
The Financial Services Sector: An Update on Recent Developments
Technical Report No. 91
Charles Freedman,
Clyde Goodlet
The Canadian financial industry continues to experience significant changes. This report provides an update on recent developments and re-examines a number of issues facing financial service providers that were identified in Technical Report No. 82.
Content Type(s):
Staff research,
Technical reports
Research Topic(s):
Financial institutions,
Financial services
JEL Code(s):
G,
G2
Dollarization in Canada: The Buck Stops There
Technical Report No. 90
John Murray,
James Powell
The sharp depreciation of the Canadian dollar and the successful launch of the euro have spawned an animated debate in Canada concerning the potential benefits of formally adopting the U.S. dollar as our national currency.
Content Type(s):
Staff research,
Technical reports
Research Topic(s):
Exchange rate regimes
JEL Code(s):
E,
E3,
E32,
F,
F3,
F33,
F36
Estimates of the Sticky-Information Phillips Curve for the United States, Canada, and the United Kingdom
Staff Working Paper 2002-19
Hashmat Khan,
Zhenhua Zhu
Mankiw and Reis (2001a) have proposed a "sticky-information"-based Phillips curve (SIPC) to address some of the concerns with the "sticky-price"-based new Keynesian Phillips curve.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Economic models,
Inflation and prices
JEL Code(s):
E,
E3,
E31
Estimated DGE Models and Forecasting Accuracy: A Preliminary Investigation with Canadian Data
Staff Working Paper 2002-18
Kevin Moran,
Veronika Dolar
This paper applies the hybrid dynamic general-equilibrium, vector autoregressive (DGE-VAR) model developed by Ireland (1999) to Canadian time series.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Business fluctuations and cycles,
Economic models
JEL Code(s):
E,
E3,
E32,
E37