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A blueprint for the fourth generation of Bank of Canada projection and policy analysis models
Coletti, Donald - 2023
This paper outlines a strategic plan for the development of the fourth generation of Bank of Canada projection and …
Persistent link: https://www.econbiz.de/10014541804
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Machine Learning at Central Banks
Chakraborty, Chiranjit - 2017
We introduce machine learning in the context of central banking and policy analyses. Our aim is to give an overview broad enough to allow the reader to place machine learning within the wider range of statistical modelling and computational analyses, and provide an idea of its scope and...
Persistent link: https://www.econbiz.de/10012948433
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The trend unemployment rate in Canada : searching for the unobservable
Brouillette, Dany; Robitaille, Marie-Noëlle; … - 2019
In this paper, we assess several methods that have been used to measure the Canadian trend unemployment rate (TUR). We also consider improvements and extensions to some existing methods. The assessment is based on four criteria: (i) the extent to which methods provide explanations for changes in...
Persistent link: https://www.econbiz.de/10011992476
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Effects of Multicollinearity on the Estimation of Macroeconomic Variables by Using Data from Sudan
Mohamed, Issam A.W - 2011
The problem of multicollinearity in the assessments of coefficients is well established. However, it is rarely researched in the estimations of macroeconomic variables and economic performance of developing countries. Predicatively, it has impacts on the estimations of coefficients that should...
Persistent link: https://www.econbiz.de/10014179444
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The trend unemployment rate in Canada: Searching for the unobservable
Brouillette, Dany; Robitaille, Marie-Noëlle; … - 2019
In this paper, we assess several methods that have been used to measure the Canadian trend unemployment rate (TUR). We also consider improvements and extensions to some existing methods. The assessment is based on four criteria: (i) the extent to which methods provide explanations for changes in...
Persistent link: https://www.econbiz.de/10012014529
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Can the Business Outlook Survey help improve estimates of the Canadian output gap?
Cheung, Calista; Frymire, Luke; Pichette, Lise - 2021 - Last updated: January 5, 2021
subject to uncertainty and often revised significantly. This paper assesses whether questions in the Bank of Canada's Business … used to improve real-time output gap estimates for Canada. We find that survey data help predict the various measures of … the output gap used by the Bank of Canada. This supports the Bank's practice of using information contained in the BOS to …
Persistent link: https://www.econbiz.de/10012385003
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Looking through supply shocks versus controlling inflation expectations : understanding the Central Bank dilemma
Beaudry, Paul; Carter, Thomas J.; Lahiri, Amartya - 2022 - Last updated: September 20, 2022
Central banks in most advanced economies have reacted similarly to the increase in inflation that started in 2021. They initially looked through the rising inflation by leaving monetary policy relatively unchanged. Then, after inflation continued to increase, central banks pivoted by quickly...
Persistent link: https://www.econbiz.de/10013370504
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Inflation targeting and price-level-path targeting in the GEM: Some open economy considerations
Coletti, Donald; Lalonde, René; Muir, Dirk - 2008
stabilize the macroeconomy, in response to a series of shocks, similar to those seen in Canada and the United States over the … 1983 to 2004 period. The analysis is conducted in a two-country (Canada and the United States), two-sector (tradables and … been most important for explaining movements in Canada's terms of trade over this period, PLPT is still preferred to IT …
Persistent link: https://www.econbiz.de/10010279982
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CANVAS: a Canadian behavioral agent-based model
Hommes, Cars H.; He, Mario; Poledna, Sebastian; … - 2022 - Last updated: December 19, 2022
structure allows us to assess the macroeconomic impact of the COVID-19 pandemic in Canada. Second, the realistic agent behaviour … of macroprudential policies in Canada. …
Persistent link: https://www.econbiz.de/10013482451
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An Empirical Assessment of Optimal Monetary Policy in the Euro Area
Chen, Xiaoshan - 2017
We estimate a New Keynesian DSGE model for the Euro area under alternative descriptions of monetary policy (discretion, commitment or a simple rule) after allowing for Markov switching in policy-maker preferences and shock volatilities. This reveals that there have been several changes in...
Persistent link: https://www.econbiz.de/10012972171