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1320
result(s)
The Heterogeneous Effects of COVID-19 on Canadian Household Consumption, Debt and Savings
Staff Working Paper 2020-51
James (Jim) C. MacGee,
Thomas Michael Pugh,
Kurt See
The impact of COVID-19 on Canadian households’ debt and unplanned savings varies by household income. Low-income and high-income households accrued unplanned savings, while middle-income households tended to accumulate more debt.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Coronavirus disease (COVID-19),
Financial stability
JEL Code(s):
E,
E2,
E21,
E24,
G,
G5,
G51
A Macroeconomic Model of an Epidemic with Silent Transmission and Endogenous Self-isolation
Staff Working Paper 2020-50
Antonio Diez de los Rios
We study the interaction between epidemics and economic decisions in a model that has silent transmission of the virus. We find that rational behaviour strongly diminishes the severity of the epidemic but worsens the economic recession. We also find that the detection and isolation of not only symptomatic individuals but also those who are infected and asymptomatic or mildly symptomatic can reduce the severity of the recession caused by the pandemic.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Coronavirus disease (COVID-19),
Economic models
JEL Code(s):
E,
E1,
H,
H0,
I,
I1
Optimal Quantitative Easing in a Monetary Union
Staff Working Paper 2020-49
Serdar Kabaca,
Renske Maas,
Kostas Mavromatis,
Romanos Priftis
How should a central bank conduct quantitative easing (QE) in a monetary union when regions differ in their size and portfolio characteristics? Optimal QE policy suggests allocating greater purchases from the region that faces stronger portfolio frictions, and not necessarily according to each region’s size.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Economic models,
Monetary policy
JEL Code(s):
E,
E4,
E43,
E5,
E52,
E58
Short-Run Dynamics in a Search-Theoretic Model of Monetary Exchange
Staff Working Paper 2020-48
Jonathan Chiu,
Miguel Molico
We study the short-run effects of monetary policy using a search-theoretic monetary model in which agents are subject to idiosyncratic shocks and aggregate monetary shocks.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices,
Monetary policy,
Monetary policy transmission
JEL Code(s):
E,
E4,
E40,
E5,
E50
How Should Unemployment Insurance Vary over the Business Cycle?
Staff Working Paper 2020-47
Serdar Birinci,
Kurt See
Should unemployment benefits be more generous during economic downturns? The optimal amount and duration of benefit payments ultimately depend on the demographic and wealth characteristics of benefit recipients.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Fiscal policy,
Labour markets
JEL Code(s):
E,
E2,
E24,
E3,
E32,
J,
J6,
J64,
J65
Earnings Dynamics and Intergenerational Transmission of Skill
Staff Working Paper 2020-46
Lance Lochner,
Youngmin Park
How are your past, current and future earnings related to those of your parents? We explore this by using 37 years of Canadian tax data on two generations.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Labour markets,
Potential output,
Productivity
JEL Code(s):
C,
C3,
C33,
J,
J2,
J24,
J6,
J62
Understanding Trend Inflation Through the Lens of the Goods and Services Sectors
Staff Working Paper 2020-45
Yunjong Eo,
Luis Uzeda,
Benjamin Wong
The goods and services sectors have experienced considerably different dynamics over the past three decades. Our goal in this paper is to understand how such contrasting behaviors at the sectoral level affect the aggregate level of trend inflation dynamics.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Inflation and prices,
Monetary policy transmission
JEL Code(s):
C,
C1,
C11,
C3,
C32,
E,
E3,
E31,
E5,
E52
Production Networks and the Propagation of Commodity Price Shocks
Staff Working Paper 2020-44
Shutao Cao,
Wei Dong
We examine the macro implications of commodity price shocks in a model with multiple production sectors that are interconnected within a commodity-exporting small open economy.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
International topics
JEL Code(s):
D,
D5,
D57,
F,
F4,
F41
Outside Investor Access to Top Management: Market Monitoring versus Stock Price Manipulation
Staff Working Paper 2020-43
Josef Schroth
Should managers be paid in stock options if they provide stock-market participants with information about the firm? This paper studies how firm owners trade off the benefit of stock-price incentives and better-informed market participants against the cost of potential stock-price manipulation.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Financial markets,
Recent economic and financial developments
JEL Code(s):
D,
D8,
D82,
D86,
G,
G1,
G14,
G3,
G32,
G34,
M,
M1,
M12,
M4,
M41