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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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Global Inflation Dynamics in the Post-Crisis Period: What Explains the Twin Puzzle?
Friedrich, Christian - Bank of Canada - 2014
Inflation dynamics in advanced countries have produced two consecutive puzzles during the years after the global … financial crisis. The first puzzle emerged when inflation rates over the period 2009-11 were consistently higher than expected … today - was initially observed in 2012, when inflation rates in advanced countries were weakening rapidly despite the …
Persistent link: https://www.econbiz.de/10010885041
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Markups in Canada: Have They Changed and Why?
Leung, Danny - Bank of Canada - 2008
effects of increasing import competition and lower inflation on the markup. This paper offers evidence on the evolution of the …
Persistent link: https://www.econbiz.de/10005256658
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Commodities and Monetary Policy: Implications for Inflation and Price Level Targeting
Coletti, Donald; Lalonde, René; Masson, Paul; Muir, Dirk; … - Bank of Canada - 2012
We examine the relative ability of simple inflation targeting (IT) and price level targeting (PLT) monetary policy … rules to minimize both inflation variability and business cycle fluctuations in Canada for shocks that have important … persistent cost-push pressures in the economy leading to a significant deterioration in the inflation – output gap trade …
Persistent link: https://www.econbiz.de/10010552498
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Import Price Dynamics in Major Advanced Economies and Heterogeneity in Exchange Rate Pass-Through
Dees, Stephane; Burgert, Matthias; Parent, Nicolas - Bank of Canada - 2008
This paper aims at showing heterogeneity in the degree of exchange rate pass-through to import prices in major advanced economies at three different levels: 1) across destination markets; 2) across types of exporters (distinguishing developed economy from emerging economy exporters); and 3) over...
Persistent link: https://www.econbiz.de/10005162475
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Credit Market Frictions and Sudden Stops
Imura, Yuko - Bank of Canada - 2014
Financial crises in emerging economies in the 1980s and 1990s often entailed abrupt declines in foreign capital inflows, improvements in trade balance, and large declines in output and total factor productivity (TFP). This paper develops a two-sector small open economy model wherein...
Persistent link: https://www.econbiz.de/10010960399
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The Transmission of Shocks to the Chinese Economy in a Global Context: A Model-Based Approach
Bailliu, Jeannine; Blagrave, Patrick - Bank of Canada - 2010
To better understand the dynamics of the Chinese economy and its interaction with the global economy, the authors incorporate China into an existing model for the G-3 economies (i.e., the United States, the euro area, and Japan), paying particular attention to modelling the exchange rate and...
Persistent link: https://www.econbiz.de/10008465967
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On the Importance of Sales for Aggregate Price Flexibility
Kryvtsov, Oleksiy; Vincent, Nicolas - Bank of Canada - 2014
Macroeconomists have traditionally ignored the behavior of temporary price markdowns (“sales”) by retailers. Although sales are common in the micro price data, they are assumed to be unrelated to macroeconomic phenomena and generally filtered out. We challenge this view. First, using the...
Persistent link: https://www.econbiz.de/10010960391
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Real-Time Nowcasting of Nominal GDP Under Structural Breaks
Barnett, William A.; Chauvet, Marcelle; Leiva-Leon, Danilo - Bank of Canada - 2014
containing information on real economic activity, inflation, interest rates and Divisia monetary aggregates produces the most …
Persistent link: https://www.econbiz.de/10010960400
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Time-Varying Effects of Oil Supply Shocks on the U.S. Economy
Baumeister, Christiane; Peersman, Gert - Bank of Canada - 2012
they help explain the "Great Inflation" of the 1970s and early 1980s. …
Persistent link: https://www.econbiz.de/10009493659