Economic models
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Multinationals and Exchange Rate Pass-Through
The authors examine the impact of multinational enterprises (MNEs) on exchange rate pass-through in an environment where an MNE engages in Cournot (quantity) competition with domestic and foreign rivals. -
Using Monthly Indicators to Predict Quarterly GDP
The authors build a model for predicting current-quarter real gross domestic product (GDP) growth using anywhere from zero to three months of indicators from that quarter. -
Convergence in a Stochastic Dynamic Heckscher-Ohlin Model
The authors characterize the equilibrium for a small economy in a dynamic Heckscher-Ohlin model with uncertainty. -
Launching the NEUQ: The New European Union Quarterly Model, A Small Model of the Euro Area and U.K. Economies
The authors develop a projection model of the euro area and the United Kingdom. The model consists of two country blocks, endogenous to each other via the foreign demand channel. -
Working Time over the 20th Century
From 1870 to 2000, the workweek length of employed persons decreased by 41 per cent in industrialized countries. -
Benchmark Index of Risk Appetite
Changes in investors' risk appetite have been used to explain a variety of phenomena in asset markets. -
The Welfare Implications of Inflation versus Price-Level Targeting in a Two-Sector, Small Open Economy
The authors analyze the welfare implications of simple monetary policy rules in the context of an estimated model of a small open economy for Canada with traded and non-traded goods, and with sticky prices and wages. -
Monetary Policy in an Estimated DSGE Model with a Financial Accelerator
The authors estimate a sticky-price dynamic stochastic general-equilibrium model with a financial accelerator, à la Bernanke, Gertler, and Gilchrist (1999), to assess the importance of financial frictions in the amplification and propagation of the effects of transitory shocks. -
Forecasting Canadian Time Series with the New Keynesian Model
The authors document the out-of-sample forecasting accuracy of the New Keynesian model for Canada.