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3046 Results

The Transmission of World Shocks to Emerging-Market Countries: An Empirical Analysis

Staff Working Paper 2004-44 Brigitte Desroches
The first step in designing effective policies to stabilize an economy is to understand business cycles. No country is isolated from the world economy and external shocks are becoming increasingly important.

What Are the Macroeconomic Effects of High-Frequency Uncertainty Shocks

Staff Working Paper 2016-25 Laurent Ferrara, Pierre Guérin
This paper evaluates the effects of high-frequency uncertainty shocks on a set of low-frequency macroeconomic variables that are representative of the U.S. economy. Rather than estimating models at the same common low-frequency, we use recently developed econometric models, which allows us to deal with data of different sampling frequencies.

Assembling a Real-Financial Micro-Dataset for Canadian Households

Staff Working Paper 2010-6 Umar Faruqui
The lack of consolidated Canadian micro data on household balance sheets and expenditures has been an important impediment to empirical research into real-financial linkages in the Canadian household sector. Our paper attempts to fill this data gap by merging household balance sheet data from the Canadian Financial Monitor survey with household expenditure data from the Survey of Household Spending.
Content Type(s): Staff research, Staff working papers Research Topic(s): Sectoral balance sheet JEL Code(s): C, C8, C81, D, D1, D10

Noisy Monetary Policy

Staff Working Paper 2018-23 Tatjana Dahlhaus, Luca Gambetti
We introduce limited information in monetary policy. Agents receive signals from the central bank revealing new information (“news") about the future evolution of the policy rate before changes in the rate actually take place. However, the signal is disturbed by noise.

The Monetary Transmission Mechanism at the Sectoral Level

Staff Working Paper 2001-27 Jean Farès, Gabriel Srour
This paper relies on simple vector autoregressions to investigate the monetary transmission mechanism in broad sectors of the Canadian economy. Two types of disaggregation are considered: one at the level of final expenditures, and one at the level of production.
Content Type(s): Staff research, Staff working papers Research Topic(s): Monetary policy transmission JEL Code(s): E, E5, E52
August 18, 2011

Bank of Canada Review - Summer 2011

This special issue, “Real-Financial Linkages,” examines the Bank’s research using theoretical and empirical models to improve its understanding of the linkages between financial and macroeconomic developments in the wake of the recent global financial crisis.

Why Does Private Consumption Rise After a Government Spending Shock?

Staff Working Paper 2003-43 Hafedh Bouakez, Nooman Rebei
Recent empirical evidence suggests that private consumption is crowded-in by government spending. This outcome violates existing macroeconomic theory, according to which the negative wealth effect brought about by a rise in public expenditure should decrease consumption.
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