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Improving Public Equity Markets? No Pain, No Gain
Kartashova, Katya - Bank of Canada - 2014
This paper quantifies the effects of improving public equity markets on macroeconomic aggregates and welfare. I use an open-economy extension of Angeletos (2007), where entrepreneurs face idiosyncratic productivity risk in privately held firms. They can diversify by investing in publicly traded...
Persistent link: https://www.econbiz.de/10010960401
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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
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Commodity-Linked Bonds: A Potential Means for Less-Developed Countries to Raise Foreign Capital
Atta-Mensah, Joseph - Bank of Canada - 2004
The author suggests that commodity-linked bonds could provide a potential means for less-developed countries (LDCs) to raise money on the international capital markets, rather than through standard forms of financing. The issue of this type of bond could provide an opportunity for...
Persistent link: https://www.econbiz.de/10005162471
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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
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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
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Business Cycle Effects of Credit Shocks in a DSGE Model with Firm Defaults
Pesaran, M. Hashem; Xu, TengTeng - Bank of Canada - 2013
volatility, and to study the impact of credit shocks on business cycle dynamics. Firms are identical ex ante but differ ex post …
Persistent link: https://www.econbiz.de/10010849962
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A Policy Model to Analyze Macroprudential Regulations and Monetary Policy
Alpanda, Sami; Cateau, Gino; Meh, Césaire - Bank of Canada - 2014
We construct a small-open-economy, New Keynesian dynamic stochastic general-equilibrium model with real-financial linkages to analyze the effects of financial shocks and macroprudential policies on the Canadian economy. Our model has four key features. First, it allows for non-trivial...
Persistent link: https://www.econbiz.de/10010849963
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A Financial Conditions Index for the United States
Beaton, Kimberly; Lalonde, René; Luu, Corinne - Bank of Canada - 2009
economic 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/10005017308
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The Macroeconomic Implications of Changes in Bank Capital and Liquidity Requirements in Canada: Insights from the BoC-GEM-FIN
Resende, Carlos de; Dib, Ali; Perevalov, Nikita - Bank of Canada - 2010
The authors use simulations within the BoC-GEM-FIN, the Bank of Canada’s version of the Global Economy Model with financial frictions in both the demand and supply sides of the credit market, to investigate the macroeconomic implications of changing bank regulations on the Canadian economy....
Persistent link: https://www.econbiz.de/10009323067
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Financial Frictions, Financial Shocks and Labour Market Fluctuations in Canada
Zhang, Yahong - Bank of Canada - 2011
What are the effects of financial market imperfections on unemployment and vacancies in Canada? The author estimates the model of Zhang (2011) – a standard monetary dynamic stochastic general-equilibrium model augmented with explicit financial and labour market frictions – with Canadian data...
Persistent link: https://www.econbiz.de/10009395394