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2468
result(s)
Text Mining and the Information Content of Bank of Canada Communications
Staff Working Paper 2010-31
Scott Hendry,
Alison Madeley
This paper uses Latent Semantic Analysis to extract information from Bank of Canada communication statements and investigates what type of information affects returns and volatility in short-term as well as long-term interest rate markets over the 2002-2008 period.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Financial markets,
Monetary policy implementation
JEL Code(s):
E,
E5,
E58,
G,
G1,
G14
On Fiscal Multipliers: Estimates from a Medium Scale DSGE Model
Staff Working Paper 2010-30
Sarah Zubairy
This paper contributes to the debate on fiscal multipliers, in the context of a structural model. I estimate a micro-founded dynamic stochastic general equilibrium model, that features a rich fiscal policy block and a transmission mechanism for government spending shocks, using Bayesian techniques for US data.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Economic models,
Fiscal policy
JEL Code(s):
C,
C1,
C11,
E,
E3,
E32,
E6,
E62,
H,
H3,
H30
November 19, 2010
Has Exchange Rate Pass-Through Really Declined? Some Recent Insights from the Literature
Building on an earlier Review article, the authors critically reassess the premise that exchange rate pass-through (ERPT) has declined in light of recent studies of the issue in the context of a dynamic stochastic general-equilibrium framework.
Content Type(s):
Publications,
Bank of Canada Review articles
Research Topic(s):
Economic models,
Exchange rates,
Inflation and prices,
Monetary policy framework
November 18, 2010
Financial Stress, Monetary Policy, and Economic Activity
The recent global crisis was characterized by a remarkable intensity in the negative feedback process between financial sector developments and the real economy.
Content Type(s):
Publications,
Bank of Canada Review articles
Research Topic(s):
Business fluctuations and cycles,
Economic models,
Monetary policy transmission
November 18, 2010
Trends in Issuance: Underlying Factors and Implications
Trends in debt issuance have changed significantly over the past decade, both prior to the financial crisis and subsequently.
Content Type(s):
Publications,
Bank of Canada Review articles
Research Topic(s):
Financial markets,
Financial system regulation and policies
Understanding Systemic Risk: The Trade-Offs between Capital, Short-Term Funding and Liquid Asset Holdings
Staff Working Paper 2010-29
Céline Gauthier,
Zhongfang He,
Moez Souissi
We offer a multi-period systemic risk assessment framework with which to assess recent liquidity and capital regulatory requirement proposals in a holistic way.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Financial stability,
Financial system regulation and policies
JEL Code(s):
C,
C1,
C15,
C8,
C81,
E,
E4,
E44,
G,
G0,
G01,
G2,
G21
Trends in U.S. Hours and the Labor Wedge
Staff Working Paper 2010-28
Simona Cociuba,
Alexander Ueberfeldt
From 1980 until 2007, U.S. average hours worked increased by thirteen percent, due to a large increase in female hours. At the same time, the U.S. labor wedge, measured as the discrepancy between a representative household's marginal rate of substitution between consumption and leisure and the marginal product of labor, declined substantially.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Economic models,
Labour markets,
Potential output
JEL Code(s):
E,
E2,
E24,
H,
H2,
H20,
H3,
H31,
J,
J2,
J22
Has the Inclusion of Forward-Looking Statements in Monetary Policy Communications Made the Bank of Canada More Transparent?
Staff Discussion Paper 2010-15
Christine Fay,
Toni Gravelle
To investigate the extent to which the transparency of the Bank of Canada's monetary policy has improved, the authors examine empirically – over the period 30 October 2000 to 31 May 2007 – the reaction of Canadian financial markets to official Bank communications, and in particular their reaction to the recent inclusion of forward-looking policy-rate guidance in these communications.
Content Type(s):
Staff research,
Staff discussion papers
Research Topic(s):
Central bank research,
Interest rates,
Monetary policy communications,
Monetary policy transmission
JEL Code(s):
E,
E5,
E52,
E58
Stability versus Flexibility: The Role of Temporary Employment in Labour Adjustment
Staff Working Paper 2010-27
Shutao Cao,
Danny Leung
In Canada, temporary workers account for 14 per cent of jobs in the non-farm business sector, are present in a range of industries, and account for 40 per cent of the total job reallocation. Yet most models of job reallocation abstract from temporary workers.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Labour markets,
Productivity
JEL Code(s):
D,
D2,
D24,
J,
J3,
J32