Staff working papers

• Changes in the Inflation Process in Canada: Evidence and Implications

  Staff Working Paper 1995-5 Doug Hostland

  The Canadian economy is currently in transition from a period of disinflation to one with a very low and relatively stable inflation rate. Against this background, the author asks whether reduced-form parameters should be expected to be invariant to changes in the inflation process. This raises two empirical issues. The first relates to whether shifts […]

  Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices

• Government Debt and Deficits In Canada: A Macro Simulation Analysis

  Staff Working Paper 1995-4 Tiff Macklem, David Rose, Robert Tetlow

  This paper examines the macroeconomic implications of rising government debt in Canada and the short-run costs and long-run benefits of stemming the rise. The discussion begins with an evaluation of the long-run consequences of increasing government indebtedness, first based on the simple arithmetic of the government's long-run budget constraint, and then based on simulations of […]

  Content Type(s): Staff research, Staff working papers Topic(s): Fiscal policy

• Empirical Evidence on the Cost of Adjustment and Dynamic Labour Demand

  Staff Working Paper 1995-3 Robert Amano

  In this paper the author examines whether there is significant evidence of the effect of adjustment costs on Canadian labour demand. This is an important question, as sluggish adjustment of labour demand resulting from significant adjustment costs may be one factor that could help explain some of the unemployment persistence found in Canadian data. The […]

  Content Type(s): Staff research, Staff working papers Topic(s): Labour markets