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9268 Results

Virginie Traclet

Virginie Traclet was appointed Deputy Managing Director of the Canadian Economic Analysis (CEA) department in May 2024.

From Micro to Macro Hysteresis: Long-Run Effects of Monetary Policy

Staff Working Paper 2024-39 Felipe Alves, Giovanni L. Violante
We explore the long-run effects of a monetary policy shock in a Heterogeneous Agent New Keynesian model built on the micro evidence that job losses lead to persistently lower individual earnings through a combination of skill decay and abandonment of the labour force.
Content Type(s): Staff research, Staff working papers Topic(s): Labour markets, Monetary policy transmission JEL Code(s): E, E2, E21, E24, E3, E31, E32, E5, E52, J, J2, J24, J6, J64

Jaime Trujillo

Jaime Trujillo is a Principal Economist in the Bank of Canada’s International Projection Division.
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