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1.
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This paper measures the welfare gains of switching from inflation-targeting to price-level targeting under imperfect credibility. Vestin (2006) shows that when the moneta[...]
2008 | Text | Staff Working Paper - Document de travail du personnel |
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2.
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Using the Bank of Canada's main projection and policy-analysis model, ToTEM, this paper measures the welfare gains of switching from inflation targeting to price-level ta[...]
2009 | Text | Staff Working Paper - Document de travail du personnel |
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3.
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This paper measures the welfare gains of switching from inflation-targeting to price-level targeting under imperfect credibility. Vestin (2006) shows that when the moneta[...]
2008 | Text | Staff Working Paper - Document de travail du personnel |
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4.
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We assess the implications of price indexation for estimated frequency of price adjustment in sticky price models of business cycles. These models predominantly assume th[...]
2007 | Text | Staff Working Paper - Document de travail du personnel |
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5.
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The effectiveness of monetary policy depends, to a large extent, on market expectations of its future actions. In a standard New Keynesian business-cycle model with ratio[...]
2013 | Text | Staff Working Paper - Document de travail du personnel |
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6.
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Models with imperfect information that generate persistent monetary nonneutrality predominantly rely on assumptions leading to substantial heterogeneity of information ac[...]
2009 | Text | Staff Working Paper - Document de travail du personnel |
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7.
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Real rigidities that limit the responsiveness of real marginal cost to output are a key ingredient of sticky price models necessary to account for the dynamics of output [...]
2009 | Text | Staff Working Paper - Document de travail du personnel |
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8.
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Recent New Keynesian models of macroeconomy view nominal cost rigidities, rather than nominal price rigidities, as the key feature that accounts for the observed persiste[...]
2011 | Text | Staff Working Paper - Document de travail du personnel |
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9.
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Kryvtsov and Midrigan (2008) study the behavior of inventories in an economy with menu costs, fixed ordering costs and the possibility of stock-outs. This paper extends t[...]
2009 | Text | Staff Working Paper - Document de travail du personnel |
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10.
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Inventory investment is an important component of the Canadian business cycle. Despite its small average size – less than 1 per cent of output – it exhibits volatile proc[...]
2010 | Text | Staff Discussion Paper - Document d’analyse du personnel |
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