An Integrated Model of the Portfolio Behaviour of the Canadian Household Sector: 1968-1983 Technical Report No. 41 Stephen S. Poloz An econometric model of the portfolio behaviour of the Canadian household sector is developed to study the linkages between demands for financial assets. The theoretical basis for the model is a version of the well-known Brainard-Tobin framework, which is extended to integrate the consumption-savings and portfolio-allocation decisions. This integration allows joint estimation of the real […] Content Type(s): Staff research, Technical reports Topic(s): Economic models, Monetary policy framework JEL Code(s): G, G1, G11
The Inflation-adjusted Rate of Return on Corporate Debt and Equity: 1966-1980 Technical Report No. 39 Stuart Gilson This report has two main objectives: First, to determine whether the real tax rate on investment income has proven sensitive to inflation; second, to determine the extent to which real returns to debt and equity, based on published data, differ from those based on inflation-adjusted data. The scope of the inflationary distortion in corporate income […] Content Type(s): Staff research, Technical reports Topic(s): Interest rates JEL Code(s): E, E3, E31, G, G1, G12, G3, G30