Showing 1 - 5 of 5
This exploratory study attempts to measure and explain the evolution of productivity of seven Canadian air carriers over the 1970-80 period. Based on recent work on time series analysis, and in contrast to the conventional approach, this paper links measured productivity to the potential and...
Persistent link: https://www.econbiz.de/10008510808
Since the abandonment of monetary targeting by the Central Banks of major industrial nations, McCallum's rule has attracted renewed attention in the macroeconomic literature. Both McCallum and his critics have investigated the stabilizing properties of the rule and its robustness across regimes...
Persistent link: https://www.econbiz.de/10008510368
The work of Robert Hall (1978) on the stochastic implications of the rational expectations-permanent income (RE-PI) theory has initiated numerous empirical analysis. The purpose of this paper is to reexamine this question using the methodology recently proposed by Abel and Mishkin (1983) on a...
Persistent link: https://www.econbiz.de/10008510454
This paper can be seen as a contribution to a growing literature initiated by Bernanke and Blinder (1988, 1992) which have examined the role played by the banking system in the transmission of monetary policy. We propose to study the dynamic behaviour of the balance sheet of Canadian chartered...
Persistent link: https://www.econbiz.de/10008556454
Starting in 1988, the Bank of Canada has adopted price stability as its sole long-run objective. In this paper, we critically assess the policy actions effectively undertaken in light of this objective. Instead of using the so-called monetary conditions (interest rates and the exchange rate), we...
Persistent link: https://www.econbiz.de/10008556529