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1.
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One of the central lessons learned from the Great Depression was that adjusting government spending each year to balance the budget increases the volatility of output. We[...]
2002 | Text | Staff Working Paper - Document de travail du personnel |
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2.
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Using a closed-economy model, Jensen (2002) and Walsh (2003) have, respectively, shown that a policy regime that optimally targets nominal income growth (NIT) or the chan[...]
2003 | Text | Staff Working Paper - Document de travail du personnel |
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3.
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In this report, the authors examine and compare twelve private and public sector models of the Canadian economy with respect to their paradigm, structure, and dynamic pro[...]
2003 | Text | Technical Report - Rapport technique |
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4.
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In an era when the primary policy instrument is the level of the short-term interest rate, a comparison of that rate with some equilibrium rate can be a useful guide for [...]
2004 | Text | Staff Working Paper - Document de travail du personnel |
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5.
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In two recent papers, Jensen (2002) and Walsh (2003), using a hybrid New Keynesian model, demonstrate that a regime that targets either nominal income growth or the chang[...]
2004 | Text | Staff Working Paper - Document de travail du personnel |
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6.
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In this report, we evaluate several simple monetary policy rules in twelve private and public sector models of the Canadian economy. Our results indicate that none of the[...]
2002 | Text | Technical Report - Rapport technique |
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