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8641 Results

September 7, 2022

Interest Rate Announcement

10:00 (ET)
On eight scheduled dates each year, the Bank of Canada issues a press release announcing its decision for the overnight rate target, together with a short explanation of the factors influencing the decision.

Content Type(s): Upcoming events

Risk and State-Dependent Financial Frictions

Staff Working Paper 2022-37 Martin Harding, Rafael Wouters
Using a nonlinear New Keynesian model with a financial accelerator, we show that financial frictions generate large state-dependent amplification effects. Shocks propagate more strongly in periods of financial stress. We propose an endogenous regime-switching DSGE framework for efficient estimation and improved model fit.
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