Caterina Mendicino

Author

Staff working papers

Consumption, Housing Collateral, and the Canadian Business Cycle

Staff Working Paper 2009-26 Ian Christensen, Paul Corrigan, Caterina Mendicino, Shin-Ichi Nishiyama
Using Bayesian methods, we estimate a small open economy model in which consumers face limits to credit determined by the value of their housing stock. The purpose of this paper is to quantify the role of collateralized household debt in the Canadian business cycle.
Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Credit and credit aggregates, Monetary policy transmission JEL Code(s): E, E2, E21, E3, E32, E4, E44, E5, E52, R, R2, R21

Price Level Targeting in a Small Open Economy with Financial Frictions: Welfare Analysis

Staff Working Paper 2008-40 Ali Dib, Caterina Mendicino, Yahong Zhang
How important are the benefits of low price-level uncertainty? This paper explores the desirability of price-level path targeting in an estimated DSGE model fit to Canadian data. The policy implications are based on social welfare evaluations.
Content Type(s): Staff research, Staff working papers Topic(s): Financial stability, Inflation and prices, Monetary policy framework JEL Code(s): E, E3, E31, E32, E5, E52

On the Amplification Role of Collateral Constraints

Staff Working Paper 2008-23 Caterina Mendicino
Following the seminal contribution of Kiyotaki and Moore (1997), the role of collateral constraints for business cycle fluctuations has been highlighted by several authors and collateralized debt is becoming a popular feature of business cycle models.
Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Credit and credit aggregates JEL Code(s): E, E2, E20, E3, E32

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Journal publications

Other Publications

  • “Price-Level Targeting Rules and Financial Shocks: The Case of Canada.”
    (with A. Dib and Y. Zhang), Economic Modelling.