This paper uses a sticky-price dynamic general-equilibrium model to study the role of bank lending as a transmission mechanism of monetary policy shocks and to assess rea[...]

The authors use a dynamic general-equilibrium model to study the role financial frictions play as a transmission mechanism of Canadian monetary policy, and to evaluate th[...]

One of the alternative methods for constructing monetary aggregates that has received much attention in the literature is the method proposed by Barnett (1980), which use[...]

This paper compares the empirical performance of Canadian weighted monetary aggregates (in particular, Fisher ideal aggregates) with the current summation aggregates, for[...]

The author examines the role of collateral in an environment where lenders and borrowers possess identical information and similar beliefs about its future value. Using o[...]

The author suggests that commodity-linked bonds could provide a potential means for less-developed countries (LDCs) to raise money on the international capital markets, r[...]

The author re-examines the demand-for-money theory in an intertemporal optimization model. The demand for real money balances is derived to be a function of real income a[...]

A vector error-correction model (VECM) that forecasts inflation between the current quarter and eight quarters ahead is found to provide significant leading information a[...]

This paper examines the empirical performance of alternatives to the monetary aggregates currently published by the Bank of Canada. The results show that real M1 and real[...]

This paper examines the performance of M1 in an indicator-model of inflation over time horizons as long as 16 quarters into the future. The central conclusion of the pape[...]