International Equity Flows and Returns: A Quantitative Equilibrium Approach
The authors model trading by foreign and domestic investors in developed-country equity markets.
Staff working papers provide a forum for staff to publish work-in-progress research intended for journal publication.
Content older than 10 years is available on the Bank’s Open Access Repository.
1363
result(s)
Characterization of the Dynamic Effects of Fiscal Shocks in a Small Open Economy
Staff Working Paper 2004-41
Nooman Rebei
The author studies the macroeconomic consequences of discretionary changes in the fiscal policy instruments for Canada.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Economic models,
Exchange rates,
Fiscal policy
JEL Code(s):
E,
E3,
E32,
E6,
E62
Prévision et analyse de la production manufacturière au Canada : comparaison de modèles linéaires et non linéaires
Staff Working Paper 2004-40
Frédérick Demers
In this paper, the author describes reduced-form linear and non-linear econometric models developed to forecast and analyze quarterly data on output growth in the Canadian manufacturing sector from 1981 to 2003.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Business fluctuations and cycles,
Econometric and statistical methods
JEL Code(s):
C,
C2,
C22,
C5,
C53
A Forecasting Model for Inventory Investments in Canada
Staff Working Paper 2004-39
Marwan Chacra,
Maral Kichian
The authors present an empirical model to forecast short-run inventory investment behaviour for Canada.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Domestic demand and components,
Econometric and statistical methods
JEL Code(s):
C,
C5,
C53,
E,
E2,
E22,
E6,
E62
Finance Constraints and Inventory Investment: Empirical Tests with Panel Data
Staff Working Paper 2004-38
Rose Cunningham
The author empirically tests two aspects of the interaction between financial variables and inventory investment: negative cash flow and finance constraints due to asymmetric information.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Business fluctuations and cycles,
Financial institutions
JEL Code(s):
E,
E2,
E22,
G,
G1,
G14
The Implications of Transmission and Information Lags for the Stabilization Bias and Optimal Delegation
Staff Working Paper 2004-37
Jean-Paul Lam,
Florian Pelgrin
In two recent papers, Jensen (2002) and Walsh (2003), using a hybrid New Keynesian model, demonstrate that a regime that targets either nominal income growth or the change in the output gap can effectively replicate the outcome under commitment and hence reduce the size of the stabilization bias.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Inflation targets,
Monetary policy transmission
JEL Code(s):
E,
E5,
E52,
E58,
E6,
E62
Optimal Taylor Rules in an Estimated Model of a Small Open Economy
Staff Working Paper 2004-36
Steve Ambler,
Ali Dib,
Nooman Rebei
The authors compute welfare-maximizing Taylor rules in a dynamic general-equilibrium model of a small open economy.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Economic models,
Exchange rates,
Inflation targets
JEL Code(s):
F,
F2,
F3,
F31,
F33
The U.S. New Keynesian Phillips Curve: An Empirical Assessment
Staff Working Paper 2004-35
Alain Guay,
Florian Pelgrin
The authors examine the evidence presented by Galí and Gertler (1999) and Galí, Gertler, and Lopez-Salido (2001, 2003) that the inflation dynamics in the United States can be well-described by the New Keynesian Phillips curve (NKPC).
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Econometric and statistical methods,
Inflation and prices
JEL Code(s):
C,
C1,
C13,
C5,
C52,
E,
E3,
E31
Market Valuation and Risk Assessment of Canadian Banks
Staff Working Paper 2004-34
Ying Liu,
Mingwei Yuan,
Eli Papakirykos
The authors apply the asset-valuation model developed by Rabinovitch (1989) to six publicly traded Canadian banks over the period 1982–2002.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Financial institutions
JEL Code(s):
G,
G1,
G12,
G2,
G21
Counterfeiting: A Canadian Perspective
Staff Working Paper 2004-33
John Chant
Counterfeiting is a significant public policy issue, because paper money, despite rumours of its demise, remains an important part of our payments system.
Content Type(s):
Staff research,
Staff working papers
Research Topic(s):
Bank notes
JEL Code(s):
E,
E5,
E58