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3046 Results

Firms Dynamics, Bankruptcy Laws and Total Factor Productivity

Staff Working Paper 2007-17 Hajime Tomura
This paper analyzes endogenous fluctuations in total factor productivity (TFP) in a dynamic general equilibrium model with heterogeneous agents, and illustrates the interaction of credit market frictions, asset prices, the entry and exit of firms, and fluctuations in TFP in response to firm-level productivity and aggregate credit-market shocks. I also analyze the effect of bankruptcy and foreclosure laws on fluctuations in TFP through their effect on credit market frictions.
Content Type(s): Staff research, Staff working papers Research Topic(s): Financial stability, Productivity JEL Code(s): D, D2, D24, E, E4, E44, G, G3, G33

Nowcasting the Global Economy

Staff Discussion Paper 2010-12 James Rossiter
Forecasts of global economic activity and inflation are important inputs when conducting monetary policy in small open economies such as Canada. As part of the Bank of Canada's broad agenda to augment its short-term forecasting tools, the author constructs simple mixed-frequency forecasting equations for quarterly global output, imports, and inflation using the monthly global Purchasing Managers Index (PMI).
Content Type(s): Staff research, Staff discussion papers Research Topic(s): Economic models, International topics JEL Code(s): E, E3, E37, F, F4, F47
June 21, 2007

Financial System Review - June 2007

Financial System Review - June 2007
The Financial System Review is one vehicle that the Bank of Canada uses to contribute to the strength of the Canadian financial system. The Developments and Trends section of the Review aims to provide analysis and discussion of current developments and trends in the Canadian financial sector.

Estimating and Projecting Potential Output Using Structural VAR Methodology: The Case of the Mexican Economy

Staff Working Paper 1995-2 Alain DeSerres, Alain Guay, Pierre St-Amant
In this paper the authors show how potential output can be estimated and projected through an approach derived from the structural vector autoregression methodology. This approach is applied to the Mexican economy. To identify demand, supply and world oil shocks, the authors assume that demand shocks do not have a permanent effect on output and […]

Bank Lending, Credit Shocks, and the Transmission of Canadian Monetary Policy

Staff Working Paper 2003-9 Joseph Atta-Mensah, Ali Dib
The authors use a dynamic general-equilibrium model to study the role financial frictions play as a transmission mechanism of Canadian monetary policy, and to evaluate the real effects of exogenous credit shocks. Financial frictions, which are modelled as spreads between deposit and loan interest rates, are assumed to depend on economic activity as well as on credit shocks.
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