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3045 Results

Should Monetary Policy Lean Against Housing Market Booms?

Staff Working Paper 2016-19 Sami Alpanda, Alexander Ueberfeldt
Should monetary policy lean against housing market booms? We approach this question using a small-scale, regime-switching New Keynesian model, where housing market crashes arrive with a logit probability that depends on the level of household debt.
May 13, 2014

Bank of Canada Review - Spring 2014

The five articles in this issue present research and analysis by Bank staff covering a variety of topics: the growth of Canadian-dollar-denominated assets in official foreign reserves; the emergence of platform-based digital currencies; methods of forecasting the real price of oil; measures of uncertainty in monetary policy; and the recent performance of the labour market in Canada and the United States.

Estimating One-Factor Models of Short-Term Interest Rates

Staff Working Paper 1999-18 Des Mc Manus, David Watt
There currently exists in the literature several continuous-time one-factor models for short-term interest rates. This paper considers a wide range of these models that are nested into one general model. These models are approximated using both a discrete-time model and a model that accounts for aggregation effects over time, and are estimated by both the […]
Content Type(s): Staff research, Staff working papers Research Topic(s): Financial markets, Interest rates JEL Code(s): C, C5, C52, G, G1, G10

Complementarities Between Fiscal Policy and Monetary Policy—Literature Review

This paper surveys and summarizes the literature on how fiscal policy and monetary policy can complement each other in stabilizing economic activity.
Content Type(s): Staff research, Staff discussion papers Research Topic(s): Fiscal policy, Monetary policy JEL Code(s): E, E5, E52, E58, E6, E62, E63

The Impact of Unemployment Insurance and Unsecured Credit on Business Cycles

Staff Working Paper 2023-22 Michael Irwin
This paper studies how unsecured consumer credit impacts the extent to which unemployment insurance (UI) policies smooth aggregate consumption fluctuations over the business cycle. Using a general equilibrium real business cycle model, I find that unsecured credit amplifies the extent to which UI smooths cyclical consumption fluctuations.

Stability versus Flexibility: The Role of Temporary Employment in Labour Adjustment

Staff Working Paper 2010-27 Shutao Cao, Danny Leung
In Canada, temporary workers account for 14 per cent of jobs in the non-farm business sector, are present in a range of industries, and account for 40 per cent of the total job reallocation. Yet most models of job reallocation abstract from temporary workers.
Content Type(s): Staff research, Staff working papers Research Topic(s): Labour markets, Productivity JEL Code(s): D, D2, D24, J, J3, J32
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