ElasticSearch Score: 7.4615993
Product standards are omnipresent in industrialized societies. Though standardization can be beneficial for domestic producers, divergent product standards have been categorized as a major obstacle to international trade. This paper quantifies the effect of standard harmonization on trade flows and characterizes the extent to which it changes the cost and demand structure of exporting.
ElasticSearch Score: 7.423328
November 16, 1998
During the past six months, global economic uncertainties have intensified, largely as a result of developments in emerging-market economies.
ElasticSearch Score: 7.4024525
May 20, 1996
This Report presents the Bank of Canada’s assessment of the trend of inflation in Canada and explains the monetary policy actions deemed necessary to keep inflation within the Bank’s inflation-control target range.
ElasticSearch Score: 7.389241
Using the Bank of Canada's Currency Information Management Strategy, we analyze the network structure traced by a bank note’s travel in circulation and find that the denomination of the bank note is important in our potential understanding of the demand and use of cash.
ElasticSearch Score: 7.3454666
October 22, 2003
In the April Monetary Policy Report, the Bank noted that inflation was well above its 2 per cent target and that short-term inflation expectations had edged up.
ElasticSearch Score: 7.2690063
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: 7.2628703
The authors examine how the use of extreme value theory yields collateral requirements that are robust to extreme fluctuations in the market price of the asset used as collateral.
ElasticSearch Score: 7.2498403
The exponential family, relative entropy, and distortion are methods of transforming probability distributions. We establish a link between those methods, focusing on the relation between relative entropy and distortion.
ElasticSearch Score: 7.2357025
May 20, 1997
Since the last Report, the Canadian economy has advanced broadly in line with expectations.
ElasticSearch Score: 7.222901
Most models in finance assume that agents make trading plans over the infinite future. We consider instead that they are boundedly rational and may only form forecasts over a limited horizon.