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Labour Reallocation, Relative Prices and Productivity

Cao, Shutao; Leung, Danny - Bank of Canada - 2010

most recent data available. It examines the determinants of these flows and their relationship with the productivity growth …, shifts of employment labour between industries have generally not contributed positively to aggregate labour productivity … rates within industries are found to be strongly related to multifactor productivity and labour productivity growth at the …

Persistent link: https://www.econbiz.de/10008513266

Measuring Potential Output at the Bank of Canada: The Extended Multivariate Filter and the Integrated Framework

Pichette, Lise; St-Amant, Pierre; Tomlin, Ben; Anoma, Karine - Bank of Canada - 2015

), provides a separate analysis of trend labour input and trend labour productivity, and in doing so accounts for more long …

Persistent link: https://www.econbiz.de/10011253083

Comparison of Auction Formats in Canadian Government Auctions

Armantier, Olivier; Lafhel, Nourredine - Bank of Canada - 2009

Using a rich sample of Canadian government securities auctions, we estimate the structural parameters of a share-auction model accounting for asymmetries across bidders. We find little evidence of asymmetries between participants at Canadian government nominal bond auctions. A counter-factual...

Persistent link: https://www.econbiz.de/10005673333

Real effects of price stability with endogenous nominal indexation

Meh, Césaire Assah; Quadrini, Vincenzo; Terajima, Yaz - 2009

We study a model with repeated moral hazard where financial contracts are not fully indexed to inflation because nominal prices are observed with delay as in Jovanovic & Ueda (1997). More constrained firms sign contracts that are less indexed to the nominal price and, as a result, their...

Persistent link: https://www.econbiz.de/10003852858

Structural inflation models with real wage rigidities : the case of Canada

Dufour, Jean-Marie; Khalif, Lynda; Kichian, Maral - 2009

treatment of the productivity term as observable although with error, which seems to capture vital information and improve …

Persistent link: https://www.econbiz.de/10003933276

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

Is There a Quality Bias in the Canadian CPI? Evidence from Micro Data

Kryvtsov, Oleksiy - Bank of Canada - 2013

Rising consumer prices may reflect shifts by consumers to new higher-priced products, mostly for durable and semi-durable goods. I apply Bils’ (2009) methodology to newly available Canadian consumer price data for non-shelter goods and services to estimate how price increases can be divided...

Persistent link: https://www.econbiz.de/10010849942

Perceived Inflation Persistence

Jain, Monica - Bank of Canada - 2013

The Survey of Professional Forecasters (SPF) has had vast influence on research related to better understanding expectation formation and the behaviour of macroeconomic agents. Inflation expectations, in particular, have received a great deal of attention, since they play a crucial role in...

Persistent link: https://www.econbiz.de/10010849947

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, although economic slack in advanced countries reached...

Persistent link: https://www.econbiz.de/10010885041

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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