Learning-by-Doing or Habit Formation? Staff Working Paper 2005-15 Hafedh Bouakez, Takashi Kano In a recent paper, Chang, Gomes, and Schorfheide (2002) extend the standard real business cycle (RBC) model to allow for a learning-by-doing (LBD) mechanism whereby current labour supply affects future productivity. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Econometric and statistical methods, Economic models, Labour markets JEL Code(s): C, C5, C52, E, E3, E32, J, J2, J22
Self-Enforcing Labour Contracts and the Dynamics Puzzle Staff Working Paper 2005-1 Christian Calmès To properly account for the dynamics of key macroeconomic variables, researchers incorporate various internal-propagation mechanisms in their models. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Economic models, Labour markets JEL Code(s): E, E1, E12, E4, E49, J, J3, J30, J31, J4, J41
Characterization of the Dynamic Effects of Fiscal Shocks in a Small Open Economy Staff Working Paper 2004-41 Nooman Rebei The author studies the macroeconomic consequences of discretionary changes in the fiscal policy instruments for Canada. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Exchange rates, Fiscal policy JEL Code(s): E, E3, E32, E6, E62
Optimal Taylor Rules in an Estimated Model of a Small Open Economy Staff Working Paper 2004-36 Steve Ambler, Ali Dib, Nooman Rebei The authors compute welfare-maximizing Taylor rules in a dynamic general-equilibrium model of a small open economy. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Exchange rates, Inflation targets JEL Code(s): F, F2, F3, F31, F33
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
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
Translog ou Cobb-Douglas? Le rôle des durées d'utilisation des facteurs Staff Working Paper 2004-19 Eric Heyer, Florian Pelgrin, Arnaud Sylvain Using French data on industrial firms over the period 1989-2001, the authors estimate a "flexible" Translog production function that accounts for the volumes and durations of factor utilization. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models JEL Code(s): C, C3, C33, D, D2, D24, J, J2, J23
Contraintes de liquidité et capital humain dans une petite économie ouverte Staff Working Paper 2004-13 Florian Pelgrin In an overlapping-generations model that represents a small open economy, where agents live two periods, liquidity constraints lead to low economic development when the only accumulable factor is human capital. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models JEL Code(s): I, I2, I20, O, O4, O40
Durées d'utilisation des facteurs et fonction de production : une estimation par la méthode des moments généralisés en système Staff Working Paper 2004-12 Eric Heyer, Florian Pelgrin, Arnaud Sylvain Although a number of studies have demonstrated the importance of the degree of factor utilization in economic analysis, the impact of the durations of utilization in a production function remains largely unknown, particularly in terms of the duration of equipment utilization. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models JEL Code(s): C, C3, C33, D, D2, D24, J, J2, J23
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 Research Topic(s): Business fluctuations and cycles, Economic models, Inflation and prices JEL Code(s): E, E2, E3, E5, E52