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3035 Results

Addressing Household Indebtedness: Monetary, Fiscal or Macroprudential Policy?

Staff Working Paper 2014-58 Sami Alpanda, Sarah Zubairy
In this paper, we build a dynamic stochastic general-equilibrium model with housing and household debt, and compare the effectiveness of monetary policy, housing-related fiscal policy, and macroprudential regulations in reducing household indebtedness.

Inventories and Real Rigidities in New Keynesian Business Cycle Models

Staff Working Paper 2009-9 Oleksiy Kryvtsov, Virgiliu Midrigan
Kryvtsov and Midrigan (2008) study the behavior of inventories in an economy with menu costs, fixed ordering costs and the possibility of stock-outs. This paper extends their analysis to a richer setting that is capable of more closely accounting for the dynamics of the US business cycle.

Linking Real Activity and Financial Markets: The Bonds, Equity, and Money (BEAM) Model

Staff Working Paper 2006-42 Céline Gauthier, Fuchun Li
The authors estimate a small monthly macroeconometric model (BEAM, for bonds, equity, and money) of the Canadian economy built around three cointegrating relationships linking financial and real variables over the 1975–2002 period.
Content Type(s): Staff research, Staff working papers Research Topic(s): Financial markets, Financial stability JEL Code(s): C, C5, E, E4

The Role of Card Acceptance in the Transaction Demand for Money

Staff Working Paper 2014-44 Kim Huynh, Philipp Schmidt-Dengler, Helmut Stix
The use of payment cards, either debit or credit, is becoming more and more widespread in developed economies. Nevertheless, the use of cash remains significant.
May 16, 2013

Explaining Canada’s Regional Migration Patterns

Understanding the factors that determine the migration of labour between regions is crucial for assessing the economy’s response to macroeconomic shocks and identifying policies that will encourage an efficient reallocation of labour. By examining the determinants of migration within Canada from 1991 to 2006, this article provides evidence that regional differences in employment rates and household incomes tend to increase labour migration, and that provincial borders and language differences are barriers to migration.

Are Counterparty Arrangements in Reinsurance a Threat to Financial Stability?

Staff Working Paper 2016-39 Matt Davison, Darrell Leadbetter, Bin Lu, Jane Voll
Interconnectedness among insurers and reinsurers at a global level is not well understood and may pose a significant risk to the sector, with implications for the macroeconomy. Models of the complex interactions among reinsurers and with other participants in the financial system and the real economy are at a very early stage of development.

International Spillovers of Large-Scale Asset Purchases

Staff Working Paper 2015-2 Sami Alpanda, Serdar Kabaca
This paper evaluates the international spillover effects of large-scale asset purchases (LSAPs) using a two-country dynamic stochastic general-equilibrium model with nominal and real rigidities, and portfolio balance effects.
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