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Housework and Fiscal Expansions
Gnocchi, Stefano; Hauser, Daniela; Pappa, Evi - Bank of Canada - 2014
We build an otherwise-standard business cycle model with housework, calibrated consistently with data on time use, in order to discipline consumption-hours complementarity and relate its strength to the size of fiscal multipliers. We show that if substitutability between home and market goods is...
Persistent link: https://www.econbiz.de/10010885042
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Dynamic Employment and Hours Effects of Government Spending Shocks
Yuan, M.; Li, W. - Bank of Canada - 1999
In this paper, we analyze the dynamic behaviour of employment and hours worked per worker in a stochastic general equilibrium model with a matching mechanism between vacancies and unemployed workers. The model is estimated for the United States using the Generalized Methods of Moments (GMM)...
Persistent link: https://www.econbiz.de/10005536853
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What Accounts for the U.S.-Canada Education-Premium Difference?
Kryvtsov, Oleksiy; Ueberfeldt, Alexander - Bank of Canada - 2009
This paper analyzes the differences in wage ratios of university graduates to less than university graduates, the education premium, in Canada and the United States from 1980 to 2000. Both countries experienced a similar increase in the fraction of university graduates and a similar increase in...
Persistent link: https://www.econbiz.de/10005162527
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The Employment Costs of Downward Nominal-Wage Rigidity
Farès, J.; Hogan, S. - Bank of Canada - 2000
In this paper, we use firm-level wage and employment data to address whether there is evidence of downward nominal-wage rigidity, and whether that rigidity is associated with a reduction in employment. We describe an estimation bias that can result when estimating reduced-form wage and...
Persistent link: https://www.econbiz.de/10005808403
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Fixed-Term and Permanent Employment Contracts: Theory and Evidence
Cao, Shutao; Shao, Enchuan; Silos, Pedro - Bank of Canada - 2011
This paper constructs a theory of the coexistence of fixed-term and permanent employment contracts in an environment with ex-ante identical workers and employers. Workers under fixed-term contracts can be dismissed at no cost while permanent employees enjoy labor protection. In a labor market...
Persistent link: https://www.econbiz.de/10009352263
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Resurrecting the role of real money balance effects
Dorich, José - 2009
inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively …
Persistent link: https://www.econbiz.de/10003933293
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The Benefits of Low Inflation: Taking Shock "A nickel ain't worth a dime any more" [Yogi Berra]
O'Reilly, B. - Bank of Canada - 1998
This paper surveys the empirical literature on the benefits of low inflation emphasizing contributions since 1990. It … at the costs of inflation, or the benefits of price stability, in the context of four themes: inflation creates … uncertainty about the future; there are costs of having to cope with inflation; inflation affects equity and fairness; and 'living …
Persistent link: https://www.econbiz.de/10005673238
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A Distant-Early-Warning Model of Inflation Based on M1 Disequilibria.
Armour, J.; Atta-Mensah, J.; Engert, W.; Hendry, S. - Bank of Canada - 1996
A vector error-correction Model (VECM) that Forecasts inflation between the current quarter and eight quarters ahead is … found to privide significant leading information about inflation. The model focusses on th effects of deviations of M1 from …
Persistent link: https://www.econbiz.de/10005673307
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Does Inflation Uncertainty Vary with the Level of Inflation?
Crawford, A; Kasumovich, M - Bank of Canada - 1996
The purpose ot this study is to test the hypothesis that inflation uncertainty increases at higher levels of inflation … conditional variance of the error term to be time-varying. Since this variance is a proxy for inflation uncertainty, a positive … relationship between the conditional variance and inflation would be interpreted as evidence that inflation uncertainty increases …
Persistent link: https://www.econbiz.de/10005808350
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A Modified P*-Model of Inflation Based on M1.
Atta-Mensah, J - Bank of Canada - 1996
This paper examines the performance of M1 in an indicator model of inflation over time horizons as long as 16 quarters … the deviations of M1 from its long-run path provide "distant-early-warning" information about the future path of inflation. …
Persistent link: https://www.econbiz.de/10005536886