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3045 Results

The Effect of Adjustment Costs and Organizational Change on Productivity in Canada: Evidence from Aggregate Data

Staff Working Paper 2004-1 Danny Leung
A basic neoclassical model of production is often used to assess the contribution of investment to output growth. In the model, investment raises the capital stock and output growth increases in proportion to the growth in capital.
Content Type(s): Staff research, Staff working papers Research Topic(s): Productivity JEL Code(s): O, O3, O31, O4, O49

CBDC and Monetary Sovereignty

Staff Analytical Note 2020-5 Antonio Diez de los Rios, Yu Zhu
In an increasingly digitalized world, issuers of private digital currency can weaken central banks’ ability to stabilize the economy. By continuing to make central bank money attractive as a payment instrument in a digital world, a central bank digital currency (CDBC) could help to maintain a country’s monetary sovereignty.
Content Type(s): Staff research, Staff analytical notes Research Topic(s): Digital currencies and fintech, Monetary policy JEL Code(s): E, E5, E52, E58, F, F5, F55, G, G1, G15

Real Return Bonds, Inflation Expectations, and the Break-Even Inflation Rate

Staff Working Paper 2004-43 Ian Christensen, Christopher Reid, Frédéric Dion
According to the Fisher hypothesis, the gap between Canadian nominal and Real Return Bond yields (or break-even inflation rate) should be a good measure of inflation expectations.

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.

Some Explorations, Using Canadian Data, of the S-Variable in Akerlof, Dickens, and Perry (1996)

Staff Working Paper 2000-6 Seamus Hogan, Lise Pichette
A number of authors have suggested that economies face a long-run inflation-unemployment trade-off due to downward nominal-wage rigidity. This theory has implications for the nature of the short-run Phillips curve when wage inflation is low.
Content Type(s): Staff research, Staff working papers Research Topic(s): Monetary policy framework, Monetary policy transmission JEL Code(s): C, C5, C52, E, E2, E24, E5, E50

The Expectations Hypothesis for the Longer End of the Term Structure: Some Evidence for Canada

Staff Working Paper 1999-20 Ron Lange
This paper assesses the expectations theory for the longer end of the term structure of Canadian interest rates using three empirical approaches that have received attention in the literature: (i) cointegration tests of the long-run unbiasedness hypothesis; (ii) simulations of a theoretical long-term yield that is consistent with the expectations hypothesis, and (iii) ex post […]
Content Type(s): Staff research, Staff working papers Research Topic(s): Interest rates JEL Code(s): E, E4, E43
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