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1901
result(s)
Lessons from the Financial Crisis: Bank Performance and Regulatory Reform
Staff Discussion Paper 2013-4
Neville Arjani,
Graydon Paulin
The financial systems of some countries fared materially better than others during the global financial crisis of 2007-09.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Financial institutions,
Financial system regulation and policies
JEL Code(s):
G,
G2,
G21,
G28
Expansion of Higher Education, Employment and Wages: Evidence from the Russian Transition
Staff Working Paper 2013-45
Natalia Kyui
This paper analyzes the effects of an educational system expansion on labour market outcomes, drawing upon a 15-year natural experiment in the Russian Federation. Regional increases in student intake capacities in Russian universities, a result of educational reforms, provide a plausibly exogenous variation in access to higher education.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Development economics,
Labour markets
JEL Code(s):
I,
I2,
I20,
J,
J2,
J24
Expectations and Monetary Policy: Experimental Evidence
Staff Working Paper 2013-44
Oleksiy Kryvtsov,
Luba Petersen
The effectiveness of monetary policy depends, to a large extent, on market expectations of its future actions. In a standard New Keynesian business-cycle model with rational expectations, systematic monetary policy reduces the variance of inflation and the output gap by at least two-thirds.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Monetary policy implementation,
Monetary policy transmission
JEL Code(s):
C,
C9,
D,
D8,
D84,
E,
E3,
E5,
E52
Perceived Inflation Persistence
Staff Working Paper 2013-43
Monica Jain
The Survey of Professional Forecasters (SPF) has had vast influence on research related to better understanding expectation formation and the behaviour of macroeconomic agents. Inflation expectations, in particular, have received a great deal of attention, since they play a crucial role in determining real interest rates, the expectations-augmented Phillips curve and monetary policy.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Inflation and prices
JEL Code(s):
E,
E3,
E31,
E37
High-Frequency Real Economic Activity Indicator for Canada
Staff Working Paper 2013-42
Gitanjali Kumar
I construct a weekly measure of real economic activity in Canada. Based on the work of Aruoba et al. (2009), the indicator is extracted as an unobserved component underlying the co-movement of four monthly observed real macroeconomic variables - employment, manufacturing sales, retail sales and GDP.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Econometric and statistical methods
JEL Code(s):
C,
C3,
C38,
E,
E3,
E32
Sovereign Default and State-Contingent Debt
Staff Discussion Paper 2013-3
Martin Brooke,
Rhys R. Mendes,
Alex Pienkowski,
Eric Santor
The Latin American debt crises in the 1980s and the Asian crisis in the late 1990s both provided impetus for reforming the framework for restructuring sovereign debt. In the late 1980s, the Brady plan established the importance of substantive debt relief in addressing some crises.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
International financial markets,
International topics
JEL Code(s):
F,
F3,
F34
Central Bank Communications Before, During and After the Crisis: From Open-Market Operations to Open-Mouth Policy
Staff Working Paper 2013-41
Ianthi Vayid
The days when secrecy and opacity were the bywords of central banking are gone. The advent of inflation targeting in the early 1990s acted as the catalyst for enhanced transparency and communications in the conduct of monetary policy.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Central bank research,
Credibility,
Financial stability,
Inflation targets,
Monetary policy framework,
Monetary policy implementation
JEL Code(s):
E,
E5,
E52,
E58
Unemployment Fluctuations in a Small Open-Economy Model with Segmented Labour Markets: The Case of Canada
Staff Working Paper 2013-40
Yahong Zhang
The recent financial crisis and subsequent recession have spurred great interest in the sources of unemployment fluctuations. Previous studies predominantly assume a single economy-wide labour market, and therefore abstract from differences across sectorspecific labour markets in the economy.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Economic models,
Labour markets
JEL Code(s):
E,
E3,
E32,
E4,
E44,
J,
J6
The Financialization of Food?
Staff Working Paper 2013-39
Valentina G. Bruno,
Bahattin Buyuksahin,
Michel A. Robe
Commodity-equity and cross-commodity return co-movements rose dramatically after the 2008 financial crisis. This development took place following what has been dubbed the “financialization” of commodity markets.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
International topics,
Recent economic and financial developments
JEL Code(s):
G,
G1,
G12,
G13,
Q,
Q1,
Q11,
Q13