The purpose of this survey is to show how self-enforcing labor contracts can enhance the performance of macroeconomic models. I expose some desirable features of these dynamic contracts regarding the duplication of puzzling macroeconomic facts relative to the dynamics and persistence of...

In this paper, we propose a new variance reduction technique to speed up the convergence during a Monte-Carlo simulation : Bollinger Bands. Beside being used in technical analysis, we show how Bollinger Bands can filter the extreme variations appearing during a simulation. We apply this...

The components of savings deposits have a very different behavior in Quebec and Ontario. Non-chequable daily savings deposits have grown at a vertiginous rate in Ontario since their introduction. That was not the case in Quebec. Term deposits have always been more popular in Quebec than in...

In this article we want to verify if Bank of Canada's actions on the availability of credit were efficient from 1967 to 1976. During this period, the interest rate was chiefly used to maintain balance of payments equilibrium and the Bank of Canada was trying to affect internal credit conditions...

This paper reviews the principal theories on disequilibrium, from Walras to Barro and Grossman. There is a certain tendency in most of these theories to consider equilibrium and disequilibrium as independent phenomenons: at the end of a disequilibrium period, equilibrium in the neoclassical...

This article proposes a model of the interest rate spread of the "caisses populaires" located in Quebec and of the Canadian chartered banks. There exists very few articles on this subject. It appears that institutional factors are the principal determinants of interest rate spreads of Canadian...

The fight against inflation is an imperative in both the Annual Report of the Bank of Canada for the year 1989 and in the Federal Budget of April 1990. In the opinion of the Bank of Canada, Canadian interest rates will not decrease as long as inflation seems to accelerate. And interest payments...