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1.
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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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2.
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A view advanced in the aftermath of the late-2000s financial crisis is that lower than optimal interest rates lead to excessive risk taking by financial intermediaries. W[...]
2011 | Text | Staff Working Paper - Document de travail du personnel |
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3.
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What are the effects of financial market imperfections on unemployment and vacancies? Since standard DSGE models do not typically model unemployment, they abstract from [...]
2011 | Text | Staff Working Paper - Document de travail du personnel |
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4.
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The recent financial crisis and subsequent recession have spurred great interest in the sources of unemployment fluctuations. Previous studies predominantly assume a sing[...]
2013 | Text | Staff Working Paper - Document de travail du personnel |
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5.
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We examine the safety of government bonds in the presence of Knightian uncertainty amongst financial market participants. In our model, the information insensitivity of g[...]
2013 | Text | Staff Working Paper - Document de travail du personnel |
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This paper proposes a theoretical framework to analyze the relationship between credit shocks, firm defaults and volatility, and to study the impact of credit shocks on b[...]
2013 | Text | Staff Working Paper - Document de travail du personnel |
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This paper examines the contributions of population aging, mortgage innovation and historically low interest rates to the sharp rise in U.S. house prices and mortgage deb[...]
2013 | Text | Staff Working Paper - Document de travail du personnel |
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8.
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Using BoC-GEM-Fin, a large-scale DSGE model with real, nominal and financial frictions featuring a banking sector, we explore the macroeconomic implications of various ty[...]
2013 | Text | Staff Working Paper - Document de travail du personnel |
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9.
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Many studies in macroeconomics argue that financial frictions do not amplify the impacts of real shocks. This finding is based on models without endogenous default on loa[...]
2013 | Text | Staff Working Paper - Document de travail du personnel |
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10.
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Most central banks effect changes to their target or policy rate in discrete increments (e.g., multiples of 0.25%) following public announcements on scheduled dates. Stil[...]
2012 | Text | Staff Working Paper - Document de travail du personnel |
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