The Bank of Canada's New Quarterly Projection Model, Part 1. The Steady-State Model: SSQPM Technical Report No. 72 Richard Black, Douglas Laxton, David Rose, Robert Tetlow This report is the first documenting the Bank of Canada's new model of the Canadian economy, the Quarterly Projection Model (QPM). QPM is used at the Bank of Canada for both economic projections and policy analysis. Here the authors focus on the model's long-run properties, describing SSQPM, a model of the steady state of QPM […] Content Type(s): Staff research, Technical reports Research Topic(s): Economic models JEL Code(s): C, C5, C51, E, E1, E13
Wage and Price Dynamics in Canada Technical Report No. 56 Barry Cozier This paper examines wage and price dynamics in Canada with a view towards testing the implications of a wage-price dynamics, according to which unit labour costs are determined by a wage Phillips curve while prices are set as a markup over unit labour costs. This model is compared to an alternative model in which excess […] Content Type(s): Staff research, Technical reports Research Topic(s): Inflation and prices JEL Code(s): C, C5, C51, C52, E, E2, E24, E3, E31
The Structure of the Small Annual Model Technical Report No. 40 David Rose, Jack Selody This volume contains a detailed description of the structure and sectoral properties of the Bank of Canada's Small Annual Model, SAM. The SAM model, constructed in the Research Department of the Bank, is designed for medium- to long-term simulation. It is small by econometric model standards; the version described in this report has 25 stochastic […] Content Type(s): Staff research, Technical reports Research Topic(s): Interest rates JEL Code(s): C, C5, C51, E, E4
An Econometric Model of the Steel Trade Technical Report No. 33 Richard Dion In this report, the author uses steel as a case study for an analysis at the industrial level of forces at work in the international economy that have had an important impact on recent Canadian economic performance. Prominent among those forces are cost competitiveness and aggregate demand in Canada and abroad. Content Type(s): Staff research, Technical reports Research Topic(s): Balance of payments and components, Economic models JEL Code(s): C, C5, C51, F, F1, F14