Staff working papers provide a forum for staff to publish work-in-progress research intended for journal publication.
1302
result(s)
Nominal Rigidity, Desired Markup Variations, and Real Exchange Rate Persistence
Staff Working Paper 2002-26
Hafedh Bouakez
This paper develops and estimates a dynamic general-equilibrium sticky-price model that accounts for real exchange rate persistence.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
Market structure and pricing,
Monetary policy transmission
JEL Code(s):
F,
F3,
F31,
F4,
F41
Nominal Rigidities and Monetary Policy in Canada Since 1981
Staff Working Paper 2002-25
Ali Dib
This paper develops and estimates a dynamic, stochastic, general-equilibrium model with price and wage stickiness to analyze monetary policy in Canada.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Monetary policy framework
JEL Code(s):
E,
E3,
E31,
E32,
E5,
E52
Financial Structure and Economic Growth: A Non-Technical Survey
Staff Working Paper 2002-24
Veronika Dolar,
Césaire Meh
There is a large body of literature that studies the relationship between financial structure (that is, the degree to which the financial system is either market- or intermediary-based) and long-run economic growth.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Development economics,
Economic models,
Financial institutions,
Financial markets,
Financial services
JEL Code(s):
F,
F3,
F36,
G,
G0,
G00,
G1,
G14,
G2,
G21,
K,
K2,
K22,
O,
O1,
O16
How to Improve Inflation Targeting at the Bank of Canada
Staff Working Paper 2002-23
Nicholas Rowe
This paper shows that if the Bank of Canada is optimally adjusting its monetary policy instrument in response to inflation indicators to target 2 per cent inflation at a two-year horizon, then deviations of inflation from 2 per cent represent the Bank's forecast errors, and should be uncorrelated with its information set, which includes two-year lagged values of the instrument and the indicators. Positive or negative correlations are evidence of systematic errors in monetary policy.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation targets,
Monetary and financial indicators,
Monetary policy implementation
JEL Code(s):
E,
E5
The Usefulness of Consumer Confidence Indexes in the United States
Staff Working Paper 2002-22
Brigitte Desroches,
Marc-André Gosselin
This paper assesses the usefulness of consumer confidence indexes in forecasting aggregate consumer spending in the United States.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Domestic demand and components,
Economic models,
International topics
JEL Code(s):
D,
D1,
D12,
E,
E2,
E21,
E27
Entrepreneurial Risk, Credit Constraints, and the Corporate Income Tax: A Quantitative Exploration
Staff Working Paper 2002-21
Césaire Meh
This paper describes the positive effect that corporate income tax has on capital formation in the presence of liquidity constraints and uninsurable risk.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Fiscal policy
JEL Code(s):
D,
D3,
D31,
E,
E6,
E62,
H,
H2,
H20,
H23
Evaluating the Quarterly Projection Model: A Preliminary Investigation
Staff Working Paper 2002-20
Robert Amano,
Kim McPhail,
Hope Pioro,
Andrew Rennison
This paper summarizes the results of recent research evaluating the Bank of Canada's Quarterly Projection Model (QPM).
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models
JEL Code(s):
C,
C5,
C52,
E,
E1,
E17,
E3,
E30,
E37
Estimates of the Sticky-Information Phillips Curve for the United States, Canada, and the United Kingdom
Staff Working Paper 2002-19
Hashmat Khan,
Zhenhua Zhu
Mankiw and Reis (2001a) have proposed a "sticky-information"-based Phillips curve (SIPC) to address some of the concerns with the "sticky-price"-based new Keynesian Phillips curve.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Inflation and prices
JEL Code(s):
E,
E3,
E31
Estimated DGE Models and Forecasting Accuracy: A Preliminary Investigation with Canadian Data
Staff Working Paper 2002-18
Kevin Moran,
Veronika Dolar
This paper applies the hybrid dynamic general-equilibrium, vector autoregressive (DGE-VAR) model developed by Ireland (1999) to Canadian time series.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Economic models
JEL Code(s):
E,
E3,
E32,
E37