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2360
result(s)
Learning-by-Doing or Habit Formation?
Staff Working Paper 2005-15
Hafedh Bouakez,
Takashi Kano
In a recent paper, Chang, Gomes, and Schorfheide (2002) extend the standard real business cycle (RBC) model to allow for a learning-by-doing (LBD) mechanism whereby current labour supply affects future productivity.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Econometric and statistical methods,
Economic models,
Labour markets
JEL Code(s):
C,
C5,
C52,
E,
E3,
E32,
J,
J2,
J22
Labour Market Adjustments to Exchange Rate Fluctuations: Evidence from Canadian Manufacturing Industries
Staff Working Paper 2005-14
Danny Leung,
Terence Yuen
The authors provide some of the first empirical evidence on labour market adjustments to exchange rate movements in Canadian manufacturing industries.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
Labour markets
JEL Code(s):
E,
E2,
E23,
F,
F4
Efficiency and Economies of Scale of Large Canadian Banks
Staff Working Paper 2005-13
Jason Allen,
Ying Liu
The authors measure the economies of scale of Canada's six largest banks and their costefficiency over time. Using a unique panel data set from 1983 to 2003, they estimate pooled translog cost functions and derive measures of relative efficiency and economies of scale.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions
JEL Code(s):
C,
C3,
C33,
D,
D2,
D24,
G,
G2,
G21
April 25, 2005
Understanding China's Long-Run Growth Process and Its Implications for Canada
In the past 25 years, China has introduced numerous reforms, gradually moving from a centrally planned economy towards a socialist market economy capable of robust and sustainable economic growth. China's increasing integration into the global economy, which has been fuelled by this recent and rapid economic growth, has already begun to affect the economies of other countries and to present challenges for policy-makers, both in China and abroad. In addition to examining the determinants of China's past and current growth, the authors consider factors that are likely to support continued growth in the future and assess the implications for both the world and the Canadian economies.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Development economics,
International topics
April 22, 2005
Borders, Common Currencies, Trade, and Welfare: What Can We Learn from the Evidence?
Recent evidence indicates that the intensity of economic exchange within and across borders is significantly different: linkages are much tighter within, than among, nation-states. These findings, however, do not necessarily imply that borders and separate national currencies represent significant barriers to trade that should be removed, since the evidence is also consistent with the alternative hypothesis, that domestic exchange is more efficient because domestic producers are better able to satisfy the requirements of local consumers, owing to common tastes and institutions and the existence of local information and social networks. Focusing primarily on trade linkages within and between Canada and the United States, the authors review the evidence on the extent to which national borders lessen the intensity of international economic linkages, primarily trade in goods and services, and the effects on domestic welfare. They also examine the evidence on the impact of common currencies on trade and welfare. They determine that, since the empirical models employed to date in this research cannot distinguish between alternative explanations of the evidence, it is not yet possible to draw firm conclusions for policy-making.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Exchange rate regimes,
International topics,
Monetary policy framework
April 20, 2005
Conference Summary: Canada in the Global Economy
The Bank of Canada's 2004 research conference examined the real and financial linkages between the Canadian economy and the economies in the rest of the world. Although Canada has profited enormously from its openness to international trade in goods, services, and financial assets, many of the most significant shocks to the Canadian economy in recent years have come from abroad. For these reasons, understanding the extent and nature of the external linkages, their implications for the Canadian economy, and the process by which the Canadian economy adjusts to external shocks is of critical importance both for monetary policy and for monitoring the financial system. This article describes the purpose of the conference—to deepen economists' understanding of these important issues—and provides highlights of the papers presented in each of the five sessions, as well as summaries of the keynote lecture and the discussion of the policy panel.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Balance of payments and components,
Exchange rates,
International topics
April 19, 2005
Communication: A Vital Tool in the Implementation of Monetary Policy
Remarks by Paul Jenkins, Senior Deputy Governor, Bank of Canada, to the FMAC/FMA-USA Joint Conference 2004
Content Type(s):
Publications,
Bank of Canada Review articles
Do Exchange Rates Affect the Capital-Labour Ratio? Panel Evidence from Canadian Manufacturing Industries
Staff Working Paper 2005-12
Danny Leung,
Terence Yuen
Using industry-level data for Canadian manufacturing industries from 1981 to 1997, the authors find empirical evidence of a negative relationship between the capital-labour ratio and the user cost of capital relative to the price of labour.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
Productivity
JEL Code(s):
F,
F4
An Analysis of Closure Policy under Alternative Regulatory Structures
Staff Working Paper 2005-11
Greg Caldwell
The author develops a theoretical model of bank closure. The regulatory decision about bank failure consists of two parts: whether to close and how to close.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions
JEL Code(s):
G,
G2,
G21,
G28