Credit Constraints and Consumer Spending Staff Working Paper 2009-25 Kimberly Beaton This paper examines the relationship between aggregate consumer spending and credit availability in the United States. The author finds that consumer spending falls (rises) in response to a reduction (increase) in credit availability. Content Type(s): Staff research, Staff working papers Research Topic(s): Credit and credit aggregates, Domestic demand and components, Recent economic and financial developments JEL Code(s): E, E2, E21, E27, E4, E44, E5, E51, E58
June 18, 2008 House Prices and Consumer Spending Bank of Canada Review - Summer 2008 Kimberly Beaton, Sylvie Morin, Ilan Kolet Flood, Morin, and Kolet examine the role of house prices in household consumption decisions. Considering a group of advanced economies, the authors find that the strength of the link between house prices and consumer spending depends on the institutional features of national mortgage markets. Content Type(s): Publications, Bank of Canada Review articles Research Topic(s): Domestic demand and components, International topics, Recent economic and financial developments
The Effects of the Exchange Rate on Investment: Evidence from Canadian Manufacturing Industries Staff Working Paper 2005-22 Tarek Harchaoui, Faouzi Tarkhani, Terence Yuen Using industry-level data for 22 Canadian manufacturing industries, the authors examine the relationship between exchange rates and investment during the period 1981–97. Content Type(s): Staff research, Staff working papers Research Topic(s): Domestic demand and components, Exchange rates JEL Code(s): D, D2, D24, F, F4
Y a-t-il eu surinvestissement au Canada durant la seconde moitié des années 1990? Staff Working Paper 2005-5 Sylvain Martel This study on overinvestment differs from the existing literature in that investment in machinery and equipment is modelled as a structural vector autoregression with identification achieved by imposing long-run restrictions, as in Blanchard and Quah (1989). Content Type(s): Staff research, Staff working papers Research Topic(s): Domestic demand and components JEL Code(s): C, C3, C32, E, E3, E37, F, F4, F47
A Forecasting Model for Inventory Investments in Canada Staff Working Paper 2004-39 Marwan Chacra, Maral Kichian The authors present an empirical model to forecast short-run inventory investment behaviour for Canada. Content Type(s): Staff research, Staff working papers Research Topic(s): Domestic demand and components, Econometric and statistical methods JEL Code(s): C, C5, C53, E, E2, E22, E6, E62
May 21, 2004 Are Wealth Effects Important for Canada? Bank of Canada Review - Spring 2004 Lise Pichette Some analysts believe that a sharp rise in equity values was an important factor in the strong consumer spending between 1995 and 2000. Empirical evidence suggests, however, that consumer spending responds more to changes in housing wealth than it does to equity wealth. Content Type(s): Publications, Bank of Canada Review articles Research Topic(s): Domestic demand and components
The Bank of Canada's Business Outlook Survey: An Assessment Staff Working Paper 2004-15 Monica Martin, Cristiano Papile Since the autumn of 1997, the Bank of Canada's regional offices (located in Halifax, Montréal, Toronto, Calgary, and Vancouver) have conducted consultations with businesses across Canada on a quarterly basis. These consultations are now referred to as the Business Outlook Survey (BOS). Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Domestic demand and components JEL Code(s): E, E3, E32, E6, E66
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 Research Topic(s): Domestic demand and components, Econometric and statistical methods, International topics JEL Code(s): C, C3, C32, E, E3, E37, F, F4, F47
Are Wealth Effects Important for Canada? Staff Working Paper 2003-30 Lise Pichette, Dominique Tremblay The authors examine the link between consumption and disaggregate wealth in Canada. They use a vector-error-correction model in which permanent and transitory shocks are identified using the restrictions implied by cointegration proposed by King, Plosser, Stock, and Watson (1991) and Gonzalo and Granger (1995). Content Type(s): Staff research, Staff working papers Research Topic(s): Domestic demand and components JEL Code(s): C, C3, C32, E, E2, E21
The Usefulness of Consumer Confidence Indexes in the United States Staff Working Paper 2002-22 Brigitte Desroches, Marc-André Gosselin This paper assesses the usefulness of consumer confidence indexes in forecasting aggregate consumer spending in the United States. Content Type(s): Staff research, Staff working papers Research Topic(s): Domestic demand and components, Economic models, International topics JEL Code(s): D, D1, D12, E, E2, E21, E27