Staff working papers provide a forum for staff to publish work-in-progress research intended for journal publication.
1320
result(s)
Markups in Canada: Have They Changed and Why?
Staff Working Paper 2008-7
Danny Leung
Many empirical studies have examined the cyclical nature of the markup ratio. Until recently, few have attempted to ascertain the changes in the markup over a longer time horizon.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods
JEL Code(s):
E,
E3,
E31,
F,
F4,
F41,
L,
L1,
L11
Inflation Targeting and Price-Level-Path Targeting in the GEM: Some Open Economy Considerations
Staff Working Paper 2008-6
Donald Coletti,
René Lalonde,
Dirk Muir
This paper compares the performance of simple inflation targeting (IT) and price-level path targeting (PLPT) rules to stabilize the macroeconomy, in response to a series of shocks, similar to those seen in Canada and the United States over the 1983 to 2004 period.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Inflation and prices,
Inflation: costs and benefits,
Monetary policy framework
JEL Code(s):
C,
C5,
C51,
C52,
E,
E1,
E17,
E3,
E31,
E5,
E52
Unsecured Debt, Consumer Bankruptcy, and Small Business
Staff Working Paper 2008-5
Césaire Meh,
Yaz Terajima
In this paper we develop a quantitative model of entrepreneurial activity (risk-taking) and consumer bankruptcy choices and use the model to study the effects of bankruptcy regulations on entrepreneurial activity, bankruptcy rate and welfare.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Financial stability,
Financial system regulation and policies
JEL Code(s):
D,
D3,
D31,
E,
E2,
E21,
J,
J2,
J23
What Affects MFP in the Long-Run? Evidence from Canadian Industries
Staff Working Paper 2008-4
Danny Leung,
Yi Zheng
In this paper we explore variables that may have an impact on multifactor productivity (MFP) in the long-run using the KLEMS database for Canada. We estimate a dynamic heterogeneous panel error-correction model of twelve 2-digit level industries.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Productivity
JEL Code(s):
C,
C2,
C23,
D,
D2,
D24,
O,
O3,
O30
Adopting Price-Level Targeting under Imperfect Credibility
Staff Working Paper 2008-3
Oleksiy Kryvtsov,
Malik Shukayev,
Alexander Ueberfeldt
This paper measures the welfare gains of switching from inflation-targeting to price-level targeting under imperfect credibility. Vestin (2006) shows that when the monetary authority cannot commit to future policy, price-level targeting yields higher welfare than inflation targeting.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Credibility,
Monetary policy framework
JEL Code(s):
E,
E3,
E31,
E5,
E52
A Wave of Protectionism? An Analysis of Economic and Political Considerations
Staff Working Paper 2008-2
Philipp Maier
In light of the U.S. current account deficit, pressure is high on Asian countries to revalue their currencies. The calls from some U.S. policymakers for tariffs on imports from China has sparked fears that this could trigger a world-wide surge in protectionism.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
International topics,
Recent economic and financial developments,
Regional economic developments
JEL Code(s):
E,
E6,
E66,
F,
F3,
F32,
F4,
F47
Default Dependence: The Equity Default Relationship
Staff Working Paper 2008-1
Stuart Turnbull,
Jun Yang
The paper examines three equity-based structural models to study the nonlinear relationship between equity and credit default swap (CDS) prices. These models differ in the specification of the default barrier.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Financial markets
JEL Code(s):
G,
G1,
G12,
G13
Electronic Transactions as High-Frequency Indicators of Economic Activity
Staff Working Paper 2007-58
John Galbraith,
Greg Tkacz
Since the advent of standard national accounts data over 60 years ago, economists have traditionally relied on monthly or quarterly data supplied by central statistical agencies for macroeconomic modelling and forecasting.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles
JEL Code(s):
E,
E1,
E17,
E2,
E27,
E6,
E66
Uncertainty and the Specificity of Human Capital
Staff Working Paper 2007-57
Martin Gervais,
Igor Livshits,
Césaire Meh
This paper studies the choice between general and specific human capital. A trade-off arises because general human capital, while less productive, can easily be reallocated across firms.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models
JEL Code(s):
D,
D9,
D92,
J,
J2,
J24,
J4,
J41,
J6,
J62