Narrow search
Showing 1 - 10 of 185
Cover Image
A financial conditions index for the United States
Beaton, Kimberly; Lalonde, René; Luu, Corinne - 2009
The financial crisis of 200709 has highlighted the importance of developments in financial conditions for real economic … monetary easing undertaken by the Federal Reserve over the financial crisis has not been sufficient to offset the tightening of … conditions on GDP growth in the current crisis may have been amplified by as much as 40 per cent due to the fact that policy …
Persistent link: https://www.econbiz.de/10003933229
Cover Image
A Financial Conditions Index for the United States
Beaton, Kimberly; Lalonde, René; Luu, Corinne - Bank of Canada - 2009
The financial crisis of 2007-09 has highlighted the importance of developments in financial conditions for real … monetary easing undertaken by the Federal Reserve over the financial crisis has not been sufficient to offset the tightening of … conditions on GDP growth in the current crisis may have been amplified by as much as 40 per cent due to the fact that policy …
Persistent link: https://www.econbiz.de/10005017308
Cover Image
Monetary Policy Transmission during Financial Crises: An Empirical Analysis
Dahlhaus, Tatjana - Bank of Canada - 2014
This paper studies the effects of a monetary policy expansion in the United States during times of high financial stress. The analysis is carried out by introducing a smooth transition factor model where the transition between states (“normal” and high financial stress) depends on a...
Persistent link: https://www.econbiz.de/10010849951
Cover Image
The Role of Credit in International Business Cycles
Xu, TengTeng - Bank of Canada - 2012
This paper examines the role of bank credit in modeling and forecasting business cycle fluctuations, and investigates the international transmission of US credit shocks, using a global vector autoregressive (GVAR) framework and associated country-specific error correction models. The paper...
Persistent link: https://www.econbiz.de/10010595730
Cover Image
International Transmission Channels of U.S. Quantitative Easing: Evidence from Canada
Dahlhaus, Tatjana; Hess, Kristina; Reza, Abeer - Bank of Canada - 2014
The U.S. Federal Reserve responded to the great recession by reducing policy rates to the effective lower bound. In … which the Federal Reserve’s long-term asset holdings do not rise in response to the recession. We find that U …
Persistent link: https://www.econbiz.de/10010960398
Cover Image
The Impact of U.S. Monetary Policy Normalization on Capital Flows to Emerging-Market Economies
Dahlhaus, Tatjana; Vasishtha, Garima - Bank of Canada - 2014
The Federal Reserve’s path for withdrawal of monetary stimulus and eventually increasing interest rates could have substantial repercussions for capital flows to emerging-market economies (EMEs). This paper examines the potential impact of U.S. monetary policy normalization on portfolio flows...
Persistent link: https://www.econbiz.de/10011094223
Cover Image
Credit constraints and consumer spending
Beaton, Kimberly - 2009
This paper examines the relationship between aggregate consumer spending and credit availability in the United States. The author finds that consumer spending falls (rises) in response to a reduction (increase) in credit availability. Moreover, she provides a formal assessment of the possibility...
Persistent link: https://www.econbiz.de/10003933295
Cover Image
Credit Constraints and Consumer Spending
Beaton, Kimberly - Bank of Canada - 2009
This paper examines the relationship between aggregate consumer spending and credit availability in the United States. The author finds that consumer spending falls (rises) in response to a reduction (increase) in credit availability. Moreover, she provides a formal assessment of the possibility...
Persistent link: https://www.econbiz.de/10005015331
Cover Image
Financial Conditions and the Money-Output Relationship in Canada
Kichian, Maral - Bank of Canada - 2012
We propose a drifting-coefficient model to empirically study the effect of money on output growth in Canada and to examine the role of prevailing financial conditions for that relationship. We show that such a time-varying approach can be a useful way of modelling the impact of money on growth,...
Persistent link: https://www.econbiz.de/10010575967
Cover Image
Bank Lending, Credit Shocks, and the Transmission of Canadian Monetary Policy
Atta-Mensah, Joseph; Dib, Ali - Bank of Canada - 2003
The authors use a dynamic general-equilibrium model to study the role financial frictions play as a transmission mechanism of Canadian monetary policy, and to evaluate the real effects of exogenous credit shocks. Financial frictions, which are modelled as spreads between deposit and loan...
Persistent link: https://www.econbiz.de/10005673265