How important are collateral constraints for reproducing salient features of the data? To address this question, we estimate two nested versions of a New Keynesian model:[...]

We propose alternative single-equation semi-structural models for forecasting inflation in Canada, whereby structural New Keynesian models are combined with time-series f[...]

Using Bayesian methods, we estimate a small open economy model in which consumers face limits to credit determined by the value of their housing stock. The purpose of thi[...]