David Tessier - Latest

• Firm Dynamics and Multifactor Productivity: An Empirical Exploration

  Staff Working Paper 2018-15 Pierre St-Amant, David Tessier

  There are indications that business dynamism has declined in advanced economies. In particular, firm entry and exit rates have fallen, suggesting that the creative destruction process has lost some of its vitality. Meanwhile, productivity growth has slowed. Some believe that lower entry and exit rates partly explain the weaker productivity growth.

  Content Type(s): Staff research, Staff working papers Topic(s): Firm dynamics, Productivity JEL Code(s): D, D2, D24, M, M1, M13, O, O4, O47
• January 24, 2012

  Sectoral Default Rates under Stress: The Importance of Non-Linearities

  Financial System Review - June 2007 Miroslav Misina, David Tessier

  Content Type(s): Publications, Financial System Review articles
• January 24, 2012

  Stress Testing the Corporate Loans Portfolio of the Canadian Banking Sector

  Financial System Review - June 2007 Miroslav Misina, David Tessier, Shubhasis Dey

  Content Type(s): Publications, Financial System Review articles

• Non-Linearities, Model Uncertainty, and Macro Stress Testing

  Staff Working Paper 2008-30 Miroslav Misina, David Tessier

  A distinguishing feature of macro stress testing exercises is the use of macroeconomic models in scenario design and implementation. It is widely agreed that scenarios should be based on "rare but plausible" events that have either resulted in vulnerabilities in the past or could do so in the future.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial stability JEL Code(s): C, C1, C15, G, G2, G21, G3, G33
• June 21, 2008

  Bank of Canada Participation in the 2007 FSAP Macro Stress-Testing Exercise

  Financial System Review - June 2008 Donald Coletti, René Lalonde, Miroslav Misina, Dirk Muir, Pierre St-Amant, David Tessier

  Content Type(s): Publications, Financial System Review articles

• Stress Testing the Corporate Loans Portfolio of the Canadian Banking Sector

  Staff Working Paper 2006-47 Miroslav Misina, David Tessier, Shubhasis Dey

  Stress testing, at its most general level, is an investigation of the performance of an entity under abnormal operating conditions.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial stability JEL Code(s): C, C1, C15, G, G2, G21, G3, G33

• Short-Run and Long-Run Causality between Monetary Policy Variables and Stock Prices

  Staff Working Paper 2006-39 Jean-Marie Dufour, David Tessier

  The authors examine simultaneously the causal links connecting monetary policy variables, real activity, and stock returns.

  Content Type(s): Staff research, Staff working papers Topic(s): Monetary and financial indicators JEL Code(s): C, C1, C12, C15, C3, C32, C5, C51, C53, E, E5, E52

• The U.S. Stock Market and Fundamentals: A Historical Decomposition

  Staff Working Paper 2003-20 David Dupuis, David Tessier

  The authors identify the fundamentals behind the dynamics of the U.S. stock market over the past 30 years. They specify a structural vector-error-correction model following the methodology of King, Plosser, Stock, and Watson (1991).

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets JEL Code(s): G, G1

• Supply Shocks and Real Exchange Rate Dynamics: Canadian Evidence

  Staff Working Paper 2002-31 Céline Gauthier, David Tessier

  In this paper, we study the impact of supply shocks on the Canadian real exchange rate. We specify a structural vector-error-correction model that links the real exchange rate to different fundamentals.

  Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates JEL Code(s): C, C3, C32, F, F3, F31

• Une analyse empirique du lien entre la productivité et le taux de change réel Canada-É-U

  Staff Working Paper 2000-22 David Dupuis, David Tessier

  The relative productivity gap between Canada and the United States is a controversial subject matter. One argument especially contentious in this debate stems from the belief that the gradual depreciation of the Canadian dollar over the last 20 years has been one of the determinants of the productivity gap.

  Content Type(s): Staff research, Staff working papers