Staff research

• Understanding Productivity: A Review of Recent Technical Research

  Staff Discussion Paper 2008-3 Richard Dion, Robert Fay

  The authors provide an extensive review of the rapidly expanding research on productivity, both at the macro and micro levels. They focus primarily on papers written about Canada, but also draw on selected studies from other countries, especially the United States, where such work sheds important light on particular aspects of productivity growth. The authors […]

  Content Type(s): Staff research, Staff discussion papers Topic(s): Productivity JEL Code(s): D, D2, D24, O, O3, O31, O4, O40, O47

• Unsecured Debt, Consumer Bankruptcy, and Small Business

  Staff Working Paper 2008-5 Césaire Meh, Yaz Terajima

  In this paper we develop a quantitative model of entrepreneurial activity (risk-taking) and consumer bankruptcy choices and use the model to study the effects of bankruptcy regulations on entrepreneurial activity, bankruptcy rate and welfare.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Financial stability, Financial system regulation and policies JEL Code(s): D, D3, D31, E, E2, E21, J, J2, J23

• What Affects MFP in the Long-Run? Evidence from Canadian Industries

  Staff Working Paper 2008-4 Danny Leung, Yi Zheng

  In this paper we explore variables that may have an impact on multifactor productivity (MFP) in the long-run using the KLEMS database for Canada. We estimate a dynamic heterogeneous panel error-correction model of twelve 2-digit level industries.

  Content Type(s): Staff research, Staff working papers Topic(s): Productivity JEL Code(s): C, C2, C23, D, D2, D24, O, O3, O30

• Adopting Price-Level Targeting under Imperfect Credibility

  Staff Working Paper 2008-3 Oleksiy Kryvtsov, Malik Shukayev, Alexander Ueberfeldt

  This paper measures the welfare gains of switching from inflation-targeting to price-level targeting under imperfect credibility. Vestin (2006) shows that when the monetary authority cannot commit to future policy, price-level targeting yields higher welfare than inflation targeting.

  Content Type(s): Staff research, Staff working papers Topic(s): Credibility, Monetary policy framework JEL Code(s): E, E3, E31, E5, E52