December 21, 2008 The Role of Bank Capital in the Propagation of Shocks Financial System Review - December 2008 Césaire Meh, Kevin Moran Content Type(s): Publications, Financial System Review articles
Effects of Funding Portfolios on the Credit Supply of Canadian Banks Staff Working Paper 2015-10 H. Evren Damar, Césaire Meh, Yaz Terajima This paper studies how banks simultaneously manage the two sides of their balance sheet and its implications for bank risk taking and real economic activity. First, we analyze how changes in funding affect the supply of bank loans. Content Type(s): Staff research, Staff working papers Research Topic(s): Financial institutions, Financial stability, Financial system regulation and policies, Monetary policy implementation JEL Code(s): E, E5, E52, G, G2, G21
Determinants of Borrowing Limits on Credit Cards Staff Working Paper 2005-7 Shubhasis Dey, Gene Mumy The difference between actual borrowings and borrowing limits alone generates information asymmetry in the credit card market. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Market structure and pricing JEL Code(s): C, C3, D, D4, D8, D82
The Effects of Budget Rules on Fiscal Performance and Macroeconomic Stabilization Staff Working Paper 1997-15 Jonathan Millar Budget rules can be defined as legislated or constitutional constraints on government deficits, taxes, expenditures, or debt. This paper reviews the budget rules recently legislated in six of Canada's provinces and both of its territories, as well as budget rules in other OECD countries. Content Type(s): Staff research, Staff working papers Research Topic(s): Fiscal policy JEL Code(s): E, E6, E62, H, H3, H6, H61
Volatility Risk and Economic Welfare Staff Working Paper 2017-20 Shaofeng Xu This paper examines the effects of time-varying volatility on welfare. I construct a tractable endogenous growth model with recursive preferences, stochastic volatility, and capital adjustment costs. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Economic models JEL Code(s): E, E2, E3
A Fresh Look at the Publication and Citation Gap Between Men and Women: Insights from Economics and Political Science Staff Working Paper 2025-13 Daniel Stockemer, Gabriela Galassi, Engi Abou-El-Kheir In recent years, significant efforts have been made to attract more women into academia and to support their careers, with the goal of increasing their representation. Content Type(s): Staff research, Staff working papers Research Topic(s): Labour markets JEL Code(s): A, A1, A14, I, I2, I23, J, J1, J16, J4, J44, J7, J71
The Role of Corporate Saving over the Business Cycle: Shock Absorber or Amplifier? Staff Working Paper 2018-59 Xiaodan Gao, Shaofeng Xu We document countercyclical corporate saving behavior with the degree of countercyclicality varying nonmonotonically with firm size. We then develop a dynamic stochastic general equilibrium model with heterogeneous firms to explain the pattern and study its implications for business cycles. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Economic models JEL Code(s): E, E2, E20, E22, E3, E32, G, G3, G31, G32
Firm-Specific Shocks and Aggregate Fluctuations Staff Working Paper 2016-51 Leonid Karasik, Danny Leung, Ben Tomlin In order to understand what drives aggregate fluctuations, many macroeconomic models point to aggregate shocks and discount the contribution of firm-specific shocks. Recent research from other developed countries, however, has found that aggregate fluctuations are in part driven by idiosyncratic shocks to large firms. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Firm dynamics, Market structure and pricing JEL Code(s): E, E2, E22, E23, E24, E3, L, L6
December 23, 2005 The Use of Microdata to Assess Risks in the Non-Financial Corporate Sector Financial System Review - December 2005 Meyer Aaron, Dylan Hogg Content Type(s): Publications, Financial System Review articles
The Macroeconomic Effects of Quantitative Easing in the Euro Area: Evidence from an Estimated DSGE Model Staff Working Paper 2018-11 Stefan Hohberger, Romanos Priftis, Lukas Vogel This paper estimates an open-economy dynamic stochastic general equilibrium model with Bayesian techniques to analyse the macroeconomic effects of the European Central Bank’s (ECB’s) quantitative easing (QE) programme. Using data on government debt stocks and yields across maturities, we identify the parameter governing portfolio adjustment in the private sector. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Interest rates, Monetary policy transmission JEL Code(s): E, E4, E44, E5, E52, F, F4, F41