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67 Results

Multiple Fixed Effects in Binary Response Panel Data Models

Staff Working Paper 2014-17 Karyne B. Charbonneau
This paper considers the adaptability of estimation methods for binary response panel data models to multiple fixed effects. It is motivated by the gravity equation used in international trade, where important papers such as Helpman, Melitz and Rubinstein (2008) use binary response models with fixed effects for both importing and exporting countries.
Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods JEL Code(s): C, C2, C23, C25, F, F1, F14

Canadian Non-Energy Exports: Past Performance and Future Prospects

Staff Discussion Paper 2014-1 André Binette, Daniel de Munnik, Émilien Gouin-Bonenfant
Canada has continued to lose market share in the United States since the Great Recession, beyond what our bilateral competitiveness measures (relative unit labour costs) would suggest.
Content Type(s): Staff research, Staff discussion papers Research Topic(s): Balance of payments and components, Exchange rates JEL Code(s): F, F1, F10, F14, F4, F43

Endogenous Trade Participation with Incomplete Exchange Rate Pass-Through

Staff Working Paper 2013-30 Yuko Imura
This paper investigates the implications of endogenous trade participation for international business cycles, trade flow dynamics and exchange rate pass-through when price adjustments are staggered across firms.

The Evolution of Canada’s Global Export Market Share

Staff Working Paper 2012-31 Daniel de Munnik, Jocelyn Jacob, Wesley Sze
Following gains during the 1990s, Canada’s global market share of goods exports has declined markedly in recent years. In this regard, the constant market share analysis framework is used to decompose changes in Canada’s global market share into competitiveness and structural effects over the 1990‐2010 period, as well as to draw some comparisons to a number of other countries.

Inventories, Markups and Real Rigidities in Sticky Price Models of the Canadian Economy

Staff Working Paper 2011-9 Oleksiy Kryvtsov, Virgiliu Midrigan
Recent New Keynesian models of macroeconomy view nominal cost rigidities, rather than nominal price rigidities, as the key feature that accounts for the observed persistence in output and inflation. Kryvtsov and Midrigan (2010a,b) reassess these conclusions by combining a theory based on nominal rigidities and storable goods with direct evidence on inventories for the U.S.

The Effect of Exchange Rate Movements on Heterogeneous Plants: A Quantile Regression Analysis

Staff Working Paper 2010-25 Ben Tomlin, Loretta Fung
In this paper, we examine how the effect of movements in the real exchange rate on manufacturing plants depends on the plant's placement within the productivity distribution. Appreciations of the local currency expose domestic plants to more competition from abroad as export opportunities shrink and import competition intensifies.
Content Type(s): Staff research, Staff working papers Research Topic(s): Exchange rates, Market structure and pricing, Productivity JEL Code(s): D, D2, D21, F, F1, L, L1, L16, L6, L60

Inventories and Real Rigidities in New Keynesian Business Cycle Models

Staff Working Paper 2009-9 Oleksiy Kryvtsov, Virgiliu Midrigan
Kryvtsov and Midrigan (2008) study the behavior of inventories in an economy with menu costs, fixed ordering costs and the possibility of stock-outs. This paper extends their analysis to a richer setting that is capable of more closely accounting for the dynamics of the US business cycle.

Relative Prices, Trading Gains, and Real GDI: The Case of Canada

Staff Discussion Paper 2009-4 Yi Zheng
Treating imports as intermediate inputs to domestic production, the author adopts the translog function approach to model real gross domestic income (GDI) in Canada over the 1961–2006 period. She explores the role of price ratios, such as terms of trade and the real effective exchange rate, in explaining changes in real GDI, trade openness, trade […]
Content Type(s): Staff research, Staff discussion papers Research Topic(s): Econometric and statistical methods, Productivity JEL Code(s): C, C4, C43, D, D3, D33, F, F1, F10, O, O4, O47

Inventories, Markups, and Real Rigidities in Menu Cost Models

Staff Working Paper 2009-6 Oleksiy Kryvtsov, Virgiliu Midrigan
Real rigidities that limit the responsiveness of real marginal cost to output are a key ingredient of sticky price models necessary to account for the dynamics of output and inflation. We argue here, in the spirit of Bils and Kahn (2000), that the behavior of marginal cost over the cycle is directly related to that of inventories, data on which is readily available.
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