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1.
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Evidence suggests that banks, like firms, face financial frictions when raising funds. The authors develop a quantitative, monetary business cycle model in which agency p[...]
2004 | Text | Staff Working Paper - Document de travail du personnel |
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2.
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This paper assesses the merits of countercyclical bank balance sheet regulation for the stabilization of financial and economic cycles and examines its interaction with m[...]
2011 | Text | Staff Working Paper - Document de travail du personnel |
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3.
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This paper applies the hybrid dynamic general-equilibrium, vector autoregressive (DGE-VAR) model developed by Ireland (1999) to Canadian time series. It presents the firs[...]
2002 | Text | Staff Working Paper - Document de travail du personnel |
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4.
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The authors document the out-of-sample forecasting accuracy of the New Keynesian model for Canada. They estimate their variant of the model on a series of rolling subsamp[...]
2006 | Text | Staff Working Paper - Document de travail du personnel |
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5.
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Various measures indicate that inflation expectations evolve sluggishly relative to actual inflation. In addition, they often fail conventional tests of unbiasedness. The[...]
2002 | Text | Staff Working Paper - Document de travail du personnel |
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6.
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The long-run relation between growth and inflation has not yet been studied in the context of nominal price and wage rigidities, despite the fact that these rigidities no[...]
2012 | Text | Staff Working Paper - Document de travail du personnel |
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7.
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We develop an equilibrium model of the monetary policy transmission mechanism that highlights information frictions in the market for money and search frictions in the ma[...]
2002 | Text | Staff Working Paper - Document de travail du personnel |
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8.
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Recent events in financial markets have underlined the importance of analyzing the link between the financial health of banks and real economic activity. This paper contr[...]
2008 | Text | Staff Working Paper - Document de travail du personnel |
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9.
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The authors assess the stabilization properties of simple monetary policy rules within the context of a small open-economy model constructed around the limited-participat[...]
2003 | Text | Staff Working Paper - Document de travail du personnel |
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10.
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This paper studies the steady-state costs of inflation in a general-equilibrium model with real per capita output growth and staggered nominal price and wage contracts.
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2007 | Text | Staff Working Paper - Document de travail du personnel |
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