Economic models

• Has Exchange Rate Pass-Through Really Declined in Canada?

  Staff Working Paper 2005-29 Hafedh Bouakez, Nooman Rebei

  Several empirical studies suggest that exchange rate pass-through has declined in recent years in industrialized countries.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Economic models, Exchange rates, Inflation and prices, International topics JEL Code(s): F, F3, F4

• Uninsured Idiosyncratic Production Risk with Borrowing Constraints

  Staff Working Paper 2005-26 Francisco Covas

  The author analyzes a general-equilibrium model of a heterogeneous agents economy in which the agents are subject to borrowing constraints and uninsurable idiosyncratic production risk.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Financial institutions, Financial markets JEL Code(s): E, E2, E22, G, G1, G11, M, M1, M13

• La fonction de production et les données canadiennes

  Staff Working Paper 2005-20 Patrick Perrier

  This study has two aspects. First, the author examines the theoretical properties of the constant elasticity of substitution (CES) production function and the implications of this formulation for the properties of a structural macroeconomic model.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models JEL Code(s): D, D2, D24, E, E2, E23, O, O4, O40

• Risk Perceptions and Attitudes

  Staff Working Paper 2005-17 Miroslav Misina

  Changes in risk perception have been used in various contexts to explain shorter-term developments in financial markets, as part of a mechanism that amplifies fluctuations in financial markets, as well as in accounts of "irrational exuberance."

  Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Financial markets JEL Code(s): D, D8, D81, D84, G, G1, G12

• 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