David Rose - Latest

• Inflation, Learning and Monetary Policy Regimes in The G-7 Economies

  Staff Working Paper 1995-6 Nicholas Ricketts, David Rose

  In this paper, the authors report estimates of two- and three-state Markov switching models applied to inflation, measured using consumer price indexes, in the G-7 countries. They report tests that show that two-state models are preferred to simple one-state representations of the data, and argue that three-state representations are more satisfactory than two-state representations for […]

  Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices

• Government Debt and Deficits In Canada: A Macro Simulation Analysis

  Staff Working Paper 1995-4 Tiff Macklem, David Rose, Robert Tetlow

  This paper examines the macroeconomic implications of rising government debt in Canada and the short-run costs and long-run benefits of stemming the rise. The discussion begins with an evaluation of the long-run consequences of increasing government indebtedness, first based on the simple arithmetic of the government's long-run budget constraint, and then based on simulations of […]

  Content Type(s): Staff research, Staff working papers Topic(s): Fiscal policy

• The Bank of Canada's New Quarterly Projection Model, Part 2. A Robust Method for Simulating Forward-Looking Models

  Technical Report No. 73 John Armstrong, Richard Black, Douglas Laxton, David Rose

  In this report, we describe methods for solving economic models when expectations are presumed to have at least some element of consistency with the predictions of the model itself. We present analytical results that establish the convergence properties of alternative solution procedures for linear models with unique solutions. Only one method is guaranteed to converge, […]

  Content Type(s): Staff research, Technical reports Topic(s): Economic models JEL Code(s): C, C3, C32, C5, C53