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1901
result(s)
Les effets réels du cours des actions sur la consommation
Staff Working Paper 2000-21
Lise Pichette
During the nineties, stock prices increased remarkably. The number of households owning stocks also rose considerably. If stock market wealth has an effect on consumers' decisions, then the rise in equity prices could have contributed to the growth in consumption in recent years.
Content Type(s):
Staff research,
Staff working papers
Inflation and the Tax System in Canada: An Exploratory Partial-Equilibrium Analysis
Staff Working Paper 2000-18
Brian O'Reilly,
Mylène Levac
This paper reports on an exploratory application to Canadian data of an approach pioneered by Martin Feldstein (1997, 1999). Feldstein finds that even at low inflation rates there are costs arising from the distortions introduced by the interaction of inflation with the taxation of income from capital (capital gains, dividends, and interest) in a less-than-perfectly-indexed tax system.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation: costs and benefits
JEL Code(s):
E,
E5,
E6
A Practical Guide to Swap Curve Construction
Staff Working Paper 2000-17
Uri Ron
The swap market has enjoyed tremendous growth in the last decade. With government issues shrinking in supply and increased price volatilities, the swap term structure has emerged as an alternative pricing, benchmark, and hedging mechanism to the government term structure.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Asset pricing,
International financial markets
JEL Code(s):
G,
G1,
G12,
G15
Volatility Transmission Between Foreign Exchange and Money Markets
Staff Working Paper 2000-16
Shafiq K. Ebrahim
This paper uses trivariate generalized autoregressive conditional heteroscedasticity (GARCH) models to study price and volatility spillovers between the foreign exchange and associated money markets. Three models are estimated using data on U.S. dollar/Canadian dollar, U.S. dollar/Deutsche mark, and U.S. dollar/Japanese yen daily exchange rate returns together with returns on 90-day Eurodollar, Euro Canada, Euromark, and Euroyen deposits.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
International financial markets
JEL Code(s):
G,
G1,
G15
Private Capital Flows, Financial Development, and Economic Growth in Developing Countries
Staff Working Paper 2000-15
Jeannine Bailliu
An important issue in the debate over the desirability of freer capital mobility for developing countries is whether capital flows have significant effects on economic growth. Proponents of capital account liberalization cite the growth-promoting attributes of capital inflows as a key benefit of financial integration for developing countries.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
International topics
JEL Code(s):
F,
F2,
F21,
F4,
F43,
O,
O5,
O50
Employment Effects Of Nominal-Wage Rigidity: An Examination Using Wage-Settlements Data
Staff Working Paper 2000-14
Umar Faruqui
The argument advocating a moderate level of inflation based on the downward nominal-wage rigidity (DNWR) hypothesis rests on three factors: its presence, extent, and negative impact in the labour market. This paper focuses on the employment effect of DNWR.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Labour markets
JEL Code(s):
C,
C2,
C23,
J,
J2,
J23,
J3,
J30
Price Stickiness, Inflation, and Output Dynamics: A Cross-Country Analysis
Staff Working Paper 2000-12
Hashmat Khan
The sticky-price model of aggregate fluctuations implies that countries with high trend inflation rates should exhibit less-persistent output fluctuations than countries with low trend inflation.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles
JEL Code(s):
E,
E3,
E31,
E32
Fractional Cointegration and the Demand for M1
Staff Working Paper 2000-13
Greg Tkacz
Using wavelets, the author estimates the fractional order of integration of a common long-run money-demand relationship whose parameters are obtained from a full-information maximum-likelihood procedure.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Monetary aggregates
JEL Code(s):
C,
C1,
C13,
E,
E4,
E41
Identifying Policy-makers' Objectives: An Application to the Bank of Canada
Staff Working Paper 2000-11
Nicholas Rowe,
James Yetman
In this paper, we develop a new way to test hypotheses about policy-makers' targets, and we implement that test for Canadian monetary policy.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation targets
JEL Code(s):
E,
E5,
E52,
E6,
E61