Staff research

• An Analysis of the Information Content of Alternative Monetary Aggregates

  Technical Report No. 48 Doug Hostland, Stephen S. Poloz, Paul Storer

  In this study the authors compare the information content of alternative monetary aggregates with respect to total spending in the economy, using data for Canada. The analysis considers 46 monetary measures, about half of which constitute conventional summation aggregates, while the remainder are superlative indices of monetary services based on the Fisher Ideal formula. The […]

  Content Type(s): Staff research, Technical reports Topic(s): Monetary aggregates JEL Code(s): E, E5, E51

• Les effets macroéconomiques des déficits budgétaires : résultats d'un modèle de simulation

  Technical Report No. 47 Pierre Duguay, Yves Rabeau

  An increase in a government deficit can have two effects: short-term stimulation of aggregate demand and employment, and long-term contraction of potential output. In this paper, these effects are illustrated using a dynamic, macroeconomic simulation model. The model is not a forecasting tool; it is intended to bridge the gap between Keynesian and supply-side economics […]

  Content Type(s): Staff research, Technical reports Topic(s): Economic models, Fiscal policy JEL Code(s): H, H6, H60