Staff working papers provide a forum for staff to publish work-in-progress research intended for journal publication.
1311
result(s)
A New Data Set of Quarterly Total Factor Productivity in the Canadian Business Sector
Staff Working Paper 2015-6
Shutao Cao,
Sharon Kozicki
In this paper, a quarterly growth-accounting data set is built for the Canadian business sector with the top-down approach of Diewert and Yu (2012). Inputs and outputs are measured and used to estimate the quarterly total factor productivity (TFP).
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Productivity
JEL Code(s):
D,
D2,
D24,
F,
F4,
F43,
O,
O4,
O47
Motivations for Capital Controls and Their Effectiveness
Staff Working Paper 2015-5
Radhika Pandey,
Gurnain Pasricha,
Ila Patnaik,
Ajay Shah
We assess the motivations for changing capital controls and their effectiveness in India, a country with extensive and long-standing controls. We focus on the controls on foreign borrowing that can, in principle, be motivated by macroprudential concerns.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rate regimes,
Financial stability,
Financial system regulation and policies,
International topics
JEL Code(s):
F,
F3,
F32,
G,
G1,
G15,
G18
Does Financial Integration Increase Welfare? Evidence from International Household-Level Data
Staff Working Paper 2015-4
Christian Friedrich
Despite a vast empirical literature that assesses the impact of financial integration on the economy, evidence of substantial welfare gains from consumption risk sharing remains elusive. While maintaining the usual cross-country perspective of the literature, this paper explicitly accounts for household heterogeneity and thus relaxes three restrictive assumptions that have featured prominently in the past.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
International financial markets,
International topics,
Labour markets,
Recent economic and financial developments
JEL Code(s):
E,
E2,
E21,
F,
F3,
I,
I3,
I31
The Efficiency of Private E-Money-Like Systems: The U.S. Experience with National Bank Notes
Staff Working Paper 2015-3
Warren E. Weber
Beginning in 1864, in the United States notes of national banks were the predominant medium of exchange. Each national bank issued its own notes. E-money shares many of the characteristics of these bank notes.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Bank notes,
Digital currencies and fintech,
Financial services
JEL Code(s):
E,
E4,
E41,
E42,
E5,
E58
International Spillovers of Large-Scale Asset Purchases
Staff Working Paper 2015-2
Sami Alpanda,
Serdar Kabaca
This paper evaluates the international spillover effects of large-scale asset purchases (LSAPs) using a two-country dynamic stochastic general-equilibrium model with nominal and real rigidities, and portfolio balance effects.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
International topics,
Monetary policy transmission
JEL Code(s):
E,
E5,
E52,
F,
F4,
F41
Immigrants and Mortgage Delinquency in the United States
Staff Working Paper 2015-1
Zhenguo Lin,
Yingchun Liu,
Jia Xie
We investigate the relationship between immigrant status and mortgage delinquency in the United States.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Debt management,
Financial stability
JEL Code(s):
G,
G2,
G21,
J,
J1,
J15
Demographics and the Demand for Currency
Staff Working Paper 2014-59
Geoffrey R. Dunbar
I use data from the Bank of Canada’s Bank Note Distribution System and exploit a natural experiment offered by the timing of Easter in the Gregorian calendar to analyze the effects of demographic change for currency demand.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Bank notes,
Econometric and statistical methods
JEL Code(s):
C,
C3,
C31,
C36,
E,
E4,
E41
Addressing Household Indebtedness: Monetary, Fiscal or Macroprudential Policy?
Staff Working Paper 2014-58
Sami Alpanda,
Sarah Zubairy
In this paper, we build a dynamic stochastic general-equilibrium model with housing and household debt, and compare the effectiveness of monetary policy, housing-related fiscal policy, and macroprudential regulations in reducing household indebtedness.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Financial system regulation and policies,
Housing,
Monetary policy transmission
JEL Code(s):
E,
E5,
E52,
E6,
E62,
R,
R3,
R38
International Spillovers of Policy Uncertainty
Staff Working Paper 2014-57
Stefan Klößner,
Rodrigo Sekkel
Using the Baker et al. (2013) index of policy uncertainty for six developed countries, this paper estimates spillovers of policy uncertainty. We find that spillovers account for slightly more than one-fourth of the dynamics of policy uncertainty in these countries, with this share rising to one-half during the financial crisis.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods
JEL Code(s):
C,
C3,
D,
D8,
D80,
F,
F4,
F42