ElasticSearch Score: 8.160306
Emerging-market economies have become increasingly important in driving global GDP growth over the past 10 to 15 years. This has made timely and accurate assessment of current and future economic activity in emerging markets important for policy-makers not only in these countries but also in advanced economies.
ElasticSearch Score: 8.13507
This paper examines inefficiencies arising from a lack of long-term contracting in small business lending in China.
ElasticSearch Score: 8.133129
The official Chinese labour market indicators have been seen as problematic, given their small cyclical movement and their only-partial capture of the labour force. In our paper, we build a monthly Chinese labour market conditions index (LMCI) using text analytics applied to mainland Chinese-language newspapers over the period from 2003 to 2017.
ElasticSearch Score: 8.101861
May 15, 1995
This is the first in a series of semi-annual reports by the Bank of Canada on Canadian monetary policy.
ElasticSearch Score: 8.043734
In the aftermath of the financial crisis, there is interest in reforming bank regulation such that capital requirements are more closely linked to a bank's contribution to the overall risk of the financial system. In our paper we compare alternative mechanisms for allocating the overall risk of a banking system to its member banks.
ElasticSearch Score: 8.034236
This paper studies the implications of model uncertainty for wealth distribution in a tractable general equilibrium model with a borrowing constraint and robustness à la Hansen and Sargent (2008). Households confront model uncertainty about the process driving the return of the risky asset, and they choose robust policies.
ElasticSearch Score: 8.028771
ToTEM III is the most recent generation of the Bank of Canada’s main dynamic stochastic general equilibrium model for projection and policy analysis. The model helps Bank staff tell clear and coherent stories about the Canadian economy’s current state and future evolution.
ElasticSearch Score: 7.9998417
October 19, 2006
The Canadian economy continues to operate just above its full production capacity, and the near-term outlook for core inflation has moved slightly higher.
ElasticSearch Score: 7.9449625
This equilibrium model explains the trend in long-term yields and business-cycle movements in short-term yields and yield spreads. The less-frequent inverted yield curves (and less-frequent recessions) after the 1990s are due to recent secular stagnation and procyclical inflation expectations.
ElasticSearch Score: 7.9384913
How can policy-makers avoid large policy errors when they are uncertain about the true model of the economy?