May 30, 2019 Economic Progress Report: Investing in Growth Remarks Carolyn A. Wilkins Calgary Chamber of Commerce Calgary, Alberta Senior Deputy Governor Carolyn A. Wilkins talks about the importance of business investment to the Canadian economy and reviews the latest interest rate decision. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial markets, Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
Job Ladder and Business Cycles Staff working paper 2022-14 Felipe Alves During downturns, workers get stuck in low-productivity jobs and wages remain stagnant. I build an heterogenous agent incomplete market model with a full job ladder that accounts for these facts. An adverse financial shock calibrated to the US Great Recession replicates the period’s slow recovery and missing disinflation. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D3, D31, D5, D52, E, E2, E21, E24, E3, E31, E32 Research Theme(s): Models and tools, Economic models, Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply
House Price Responses to Monetary Policy Surprises: Evidence from the U.S. Listings Data Staff working paper 2022-39 Denis Gorea, Oleksiy Kryvtsov, Marianna Kudlyak Existing literature documents that house prices respond to monetary policy surprises with a significant delay, taking years to reach their peak response. We present new evidence of a much faster response. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E5, E52, R, R2, R21, R3, R31 Research Theme(s): Financial system, Household and business credit, Monetary policy, Monetary policy framework and transmission
December 21, 2008 A Model of Housing Boom and Bust in a Small Open Economy Financial System Review - December 2008 Hajime Tomura Content Type(s): Publications, Financial System Review articles
Frictional Capital Reallocation I: Ex Ante Heterogeneity Staff working paper 2019-4 Randall Wright, Sylvia Xiaolin Xiao, Yu Zhu This paper studies dynamic general equilibrium models where firms trade capital in frictional markets. Gains from trade arise due to ex ante heterogeneity: some firms are better at investment, so they build capital in the primary market; others acquire it in the secondary market. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E22, E4, E44 Research Theme(s): Financial system, Financial institutions and intermediation, Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation, Real economy and forecasting
Business Cycles in Small, Open Economies: Evidence from Panel Data Between 1900 and 2013 Staff working paper 2016-48 Thuy Lan Nguyen, Wataru Miyamoto Using a novel data set for 17 countries dating from 1900 to 2013, we characterize business cycles in both small developed and developing countries in a model with financial frictions and a common shock structure. We estimate the model jointly for these 17 countries using Bayesian methods. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E1, E13, E3, E32, F, F4, F41, F44 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Real economy and forecasting, Structural challenges, International trade, finance and competitiveness
Preferences, Monetary Policy and Household Inflation Staff working paper 2024-45 Geoffrey R. Dunbar I quantify the importance of changes in household preferences on household inflation rates using 11 years of scanner data for 11,000 US households. My results suggest that changes in household preferences are an important driver of inflation dynamics at the household level. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D1, D12, E, E5, E52, E58 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission, Monetary policy tools and implementation
December 10, 2013 Margining for Non-Centrally Cleared Over-the-Counter Derivatives Financial System Review - December 2013 Nikil Chande, Stéphane Lavoie, Thomas Thorn Content Type(s): Publications, Financial System Review articles
Central Bank Liquidity Policy in Modern Times Staff discussion paper 2024-6 Skylar Brooks Across several dimensions of lender of last resort policy, I highlight broad changes that have occurred since the 2008–09 global financial crisis and discuss some of the key challenges, choices and considerations facing the designers of central bank liquidity tools today. Content Type(s): Staff research, Staff discussion papers JEL Code(s): D, D5, D53, E, E5, E58, E6, E61, G, G0, G01, G2, G21, G23, H, H1, H12 Research Theme(s): Financial system, Financial stability and systemic risk, Monetary policy, Monetary policy tools and implementation
Identifying Consumer-Welfare Changes when Online Search Platforms Change Their List of Search Results Staff working paper 2020-5 Ryan Martin Online shopping is often guided by search platforms. Consumers type keywords into query boxes, and search platforms deliver a list of products. Consumers' attention is limited, and exhaustive searches are often impractical. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C1, C14, D, D1, D11, D12, D6, D8, D83, L, L4, L40 Research Theme(s): Financial markets and funds management, Market structure, Models and tools, Econometric, statistical and computational methods