Similar Search Results

Do Mechanical Filters Provide a Good Approximation of Business Cycles?

Guay, A; St-Amant, P - Bank of Canada - 1996

In this paper, the authors examine how weel the Hodrick-Prescott filter (HP) and the band-pass filter recently proposed by Baxter and King (BK) extract the business-cycle component of macroeconomic time series.

Persistent link: https://www.econbiz.de/10005162367

Poignée de main invisible et persistance des cycles économiques : une revue de la littérature

Calmès, Christian - Bank of Canada - 2003

The author explains how self-enforcing labour contracts can enhance the performance of macroeconomic models. He exposes the benefits of using these dynamic contracts to account for some puzzling macroeconomic facts regarding the dynamics and persistence of employment, consumption and output. In...

Persistent link: https://www.econbiz.de/10005808327

Real and Nominal Frictions within the Firm: How Lumpy Investment Matters for Price Adjustment

Johnston, Michael K. - Bank of Canada - 2009

Real rigidities are an important feature of modern sticky price models and are policyrelevant because of their welfare consequences, but cannot be structurally identified from time series. I evaluate the plausibility of capital specificity as a source of real rigidities using a two-dimensional...

Persistent link: https://www.econbiz.de/10008502641

Inflation and Unemployment in Competitive Search Equilibrium

Dong, Mei - Bank of Canada - 2010

Using a monetary search model, Rocheteau, Rupert and Wright (2007) show that the relationship between inflation and unemployment can be positive or negative depending on the primitives of the model. The key features are indivisible labor, nonseparable preferences and bargaining. Their results...

Persistent link: https://www.econbiz.de/10008527618

Self-Enforcing Labour Contracts and the Dynamics Puzzle

Calmès, Christian - Bank of Canada - 2005

To properly account for the dynamics of key macroeconomic variables, researchers incorporate various internal-propagation mechanisms in their models. In general, these mechanisms implicitly rely on the assumption of a perfect equality between the real wage and the marginal product of labour. The...

Persistent link: https://www.econbiz.de/10005162479

A No-Arbitrage Analysis of Macroeconomic Determinants of Term Structures and the Exchange Rate<br>

Chabi-Yo, Fousseni; Yang, Jun - Bank of Canada - 2007

We study the joint dynamics of macroeconomic variables, bond yields, and the exchange rate in an empirical two-country New-Keynesian model complemented with a no-arbitrage term structure model. With Canadian and US data, we are able to study the impact of macroeconomic shocks from both countries...

Persistent link: https://www.econbiz.de/10005162497

Convergence in a Stochastic Dynamic Heckscher-Ohlin Model

Chatterjee, Partha; Shukayev, Malik - Bank of Canada - 2006

. Thus, the results extend the predictions of income convergence, standard in one-sector neoclassical growth models, to the …

Persistent link: https://www.econbiz.de/10005162536

A financial conditions index for the United States

Beaton, Kimberly; Lalonde, René; Luu, Corinne - 2009

activity. The authors estimate the effect of current and past shocks to financial variables on U.S. GDP growth by constructing … two growthbased financial conditions indexes (FCIs) that measure the contribution to quarterly (annualized) GDP growth … percentage points from quarterly annualized real GDP growth in the United States in 2008Q4 and 2009Q1 and should subtract another …

Persistent link: https://www.econbiz.de/10003933229

Resurrecting the role of real money balance effects

Dorich, José - 2009

I present a structural econometric analysis supporting the hypothesis that money is still relevant for shaping inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively important, although smaller than they used to be in the...

Persistent link: https://www.econbiz.de/10003933293

Consumption, housing collateral, and the Canadian business cycle

Christensen, Ian; Corrigan, Paul; Mendicino, Caterina; … - 2009

share of consumption growth during the housing market boom-bust cycle of the late 1980s. -- Business fluctuations and cycles …

Persistent link: https://www.econbiz.de/10003933334

1
2
3
4
5
6
7
8
9
10
Next
Last