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44 Results

Unemployment Fluctuations in a Small Open-Economy Model with Segmented Labour Markets: The Case of Canada

Staff Working Paper 2013-40 Yahong Zhang
The recent financial crisis and subsequent recession have spurred great interest in the sources of unemployment fluctuations. Previous studies predominantly assume a single economy-wide labour market, and therefore abstract from differences across sectorspecific labour markets in the economy.

Market Expectations and Option Prices: Evidence for the Can$/US$ Exchange Rate

Staff Discussion Paper 2010-2 Alejandro García, Andrei Prokopiw
Security prices contain valuable information that can be used to make a wide variety of economic decisions. To extract this information, a model is required that relates market prices to the desired information, and that ideally can be implemented using timely and low-cost methods.

Entrepreneurship, Inequality, and Taxation

Staff Working Paper 2002-14 Césaire Meh
This paper confirms the conjecture that the evaluation of tax policy leads to very different conclusions once the role of entrepreneurs is considered. Contrary to previous literature, the author finds that switching from a progressive to a proportional income tax system has a negligible effect on wealth inequality in the United States.
Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Fiscal policy JEL Code(s): D, D3, D31, E, E6, E62, H, H2, H20, H23

Networking the Yield Curve: Implications for Monetary Policy

We study how different monetary policies affect the yield curve and interact. Our study highlights the importance of the spillover structure across the yield curve for policy-making.

Price Level Targeting in a Small Open Economy with Financial Frictions: Welfare Analysis

Staff Working Paper 2008-40 Ali Dib, Caterina Mendicino, Yahong Zhang
How important are the benefits of low price-level uncertainty? This paper explores the desirability of price-level path targeting in an estimated DSGE model fit to Canadian data. The policy implications are based on social welfare evaluations.

Estimating and Projecting Potential Output Using Structural VAR Methodology: The Case of the Mexican Economy

Staff Working Paper 1995-2 Alain DeSerres, Alain Guay, Pierre St-Amant
In this paper the authors show how potential output can be estimated and projected through an approach derived from the structural vector autoregression methodology. This approach is applied to the Mexican economy. To identify demand, supply and world oil shocks, the authors assume that demand shocks do not have a permanent effect on output and […]

A Discussion of the Reliability of Results Obtained with Long-Run Identifying Restrictions

Staff Working Paper 1998-4 Pierre St-Amant, David Tessier
In a recent article, Faust and Leeper (1997) discuss reasons why inference from structural VARs identified with long-run restrictions may not be reliable. In this paper, the authors argue that there are reasons to believe that Faust and Leeper's arguments are not devastating in practice. First, simulation exercises suggest that this approach does well when […]
Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods JEL Code(s): C, C3
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