E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

• Can a Matching Model Explain the Long-Run Increase in Canada's Unemployment Rate?

  Staff Working Paper 1998-19 Andreas Hornstein, Mingwei Yuan

  The authors construct a simple general equilibrium model of unemployment and calibrate it to the Canadian economy. Job creation and destruction are endogenous. In this model, they consider several potential factors that could contribute to the long-run increase in the Canadian unempoloyment rate: a more generous unemployment insurance system, higher layoff costs, higher discretionary taxes, […]

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Fiscal policy, Labour markets JEL Code(s): E, E2, E6, J, J4

• Tendance des dépenses publiques et de l'inflation et évolution comparative du taux de chômage au Canada et aux États-Unis

  Staff Working Paper 1998-3 Pierre St-Amant, David Tessier

  The authors' purpose in this paper is to isolate the respective contributions of budgetary and monetary policy in Canada and the United States to the behaviour of unemployment rates in the two countries. Their method consists of estimating VAR models and using long-term identification restrictions to perform a structural analysis. Budgetary policy shocks are defined […]

  Content Type(s): Staff research, Staff working papers Topic(s): Fiscal policy JEL Code(s): E, E6