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1776
result(s)
A Structural Small Open-Economy Model for Canada
Staff Working Paper 2004-4
Stephen Murchison,
Andrew Rennison,
Zhenhua Zhu
The authors develop a small open-economy dynamic stochastic general-equilibrium (DSGE) model in an attempt to understand the dynamic relationships in Canadian macroeconomic data.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Economic models,
Inflation and prices
JEL Code(s):
E,
E2,
E3,
E5,
E52
Modélisation « PAC » du secteur extérieur de l'économie américaine
Staff Working Paper 2004-3
Marc-André Gosselin,
René Lalonde
In this paper, the authors use polynomial adjustment cost (PAC) models to analyze and forecast the main components of the U.S. trade sector.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Domestic demand and components,
Econometric and statistical methods,
International topics
JEL Code(s):
C,
C3,
C32,
E,
E3,
E37,
F,
F4,
F47
Exact Tests of Equal Forecast Accuracy with an Application to the Term Structure of Interest Rates
Staff Working Paper 2004-2
Richard Luger
The author proposes a class of exact tests of the null hypothesis of exchangeable forecast errors and, hence, of the hypothesis of no difference in the unconditional accuracy of two competing forecasts.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods
JEL Code(s):
C,
C1,
C12,
C2,
C22,
C5,
C52,
C53
The Effect of Adjustment Costs and Organizational Change on Productivity in Canada: Evidence from Aggregate Data
Staff Working Paper 2004-1
Danny Leung
A basic neoclassical model of production is often used to assess the contribution of investment to output growth. In the model, investment raises the capital stock and output growth increases in proportion to the growth in capital.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Productivity
JEL Code(s):
O,
O3,
O31,
O4,
O49
Common Trends and Common Cycles in Canadian Sectoral Output
Staff Working Paper 2003-44
Francisco Barillas,
Christoph Schleicher
The authors examine evidence of long- and short-run co-movement in Canadian sectoral output data. Their framework builds on a vector-error-correction representation that allows them to test for and compute full-information maximum-likelihood estimates of models with codependent cycle restrictions.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Econometric and statistical methods
JEL Code(s):
C,
C1,
C15,
C2,
C22,
C3,
C32,
E,
E3,
E32
Why Does Private Consumption Rise After a Government Spending Shock?
Staff Working Paper 2003-43
Hafedh Bouakez,
Nooman Rebei
Recent empirical evidence suggests that private consumption is crowded-in by government spending. This outcome violates existing macroeconomic theory, according to which the negative wealth effect brought about by a rise in public expenditure should decrease consumption.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Economic models,
Fiscal policy
JEL Code(s):
E,
E3,
E32,
E6,
E62
A Structural VAR Approach to the Intertemporal Model of the Current Account
Staff Working Paper 2003-42
Takashi Kano
The intertemporal current account approach predicts that the current account of a small open economy is independent of global shocks, and that responses of the current account to country-specific shocks depend on the persistence of the shocks. The author shows that these predictions impose cross-equation restrictions (CERS) on a structural vector autoregression (SVAR).
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Balance of payments and components,
Monetary aggregates
JEL Code(s):
F,
F3,
F32,
F4,
F41
Anatomy of a Twin Crisis
Staff Working Paper 2003-41
Raphael Solomon
The author presents a model of a twin crisis, in which foreign and domestic residents play a banking game. Both "honest" and run equilibria of the post-deposit subgame exist; some run equilibria lead to a currency crisis, as agents convert domestic currency to foreign currency.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
Financial institutions
JEL Code(s):
E,
E5,
E58,
F,
F3,
F30,
G,
G2,
G21
Poignée de main invisible et persistance des cycles économiques : une revue de la littérature
Staff Working Paper 2003-40
Christian Calmès
The author explains how self-enforcing labour contracts can enhance the performance of macroeconomic models. He exposes the benefits of using these dynamic contracts to account for some puzzling macroeconomic facts regarding the dynamics and persistence of employment, consumption and output.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Economic models
JEL Code(s):
E,
E1,
E12,
E4,
E49,
J,
J3,
J30,
J31,
J4,
J41