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The propagation of U.S. shocks to Canada : understanding the role of real-financial linkages
Beaton, Kimberly; Lalonde, René; Snudden, Stephen - 2010
This paper examines the transmission of U.S. real and financial shocks to Canada and, in particular, the role of … financial frictions in affecting the transmission of these shocks. These questions are addressed within the Bank of Canada … the first round impact of all types of U.S. shocks on the U.S. economy, as well as the second round impact on Canada. Real …
Persistent link: https://www.econbiz.de/10008771569
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Optimal estimation of multi-country Gaussian dynamic term structure models using linear regressions
Díez de los Ríos, Antonio - 2017
This paper proposes a novel asymptotic least-squares estimator of multi-country Gaussian dynamic term structure models that is easy to compute and asymptotically efficient, even when the number of countries is relatively large - a situation in which other recently proposed approaches lose their...
Persistent link: https://www.econbiz.de/10011777912
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A new linear estimator for Gaussian dynamic term structure models
Díez de los Ríos, Antonio - 2013
This paper proposes a novel regression-based approach to the estimation of Gaussian dynamic term structure models that … asymptotically equivalent to maximum likelihood estimation. Further, we note that our estimator remains easy-to-compute and …
Persistent link: https://www.econbiz.de/10009734347
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Trade flows and exchange rates : importers, exporters and products
Devereux, Michael B.; Dong, Wei; Tomlin, Ben - 2019
Using highly disaggregated transaction-level trade data, we document the importance of new firmlevel trade partner relationships and the addition of new products to existing relationships in driving long-run import flows. Moreover, we find that these margins are sensitive to movements in the...
Persistent link: https://www.econbiz.de/10012104327
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Sheltered income : estimating income under-reporting in Canada, 1998 and 2004
Dunbar, Geoffrey R.; Fu, Chunling - 2015
extent of income under-reporting in Canada in 1998 and 2004. We estimate that the proportion of households under …
Persistent link: https://www.econbiz.de/10011285462
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Downward nominal wage rigidity in Canada : evidence against a "greasing effect"
Wagner, Joel - 2017
The existence of downward nominal wage rigidity (DNWR) has often been used to justify a positive inflation target. It is traditionally assumed that positive inflation could "grease the wheels" of the labour market by putting downward pressure on real wages, easing labour market adjustments...
Persistent link: https://www.econbiz.de/10011697087
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Wage dynamics and returns to unobserved skill
Lochner, Lance; Park, Youngmin; Shin, Youngki - 2017
Economists disagree about the factors driving the substantial increase in residual wage inequality in the U.S. over the past few decades. We identify and estimate a general model of log wage residuals that incorporates: (i) changing returns to unobserved skills, (ii) a changing distribution of...
Persistent link: https://www.econbiz.de/10011777789
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Changes in monetary regimes and the identification of monetary policy shocks : narrative evidence from Canada
Champagne, Julien; Sekkel, Rodrigo - 2017
We use narrative evidence along with a novel database of real-time data and forecasts from the Bank of Canada's staff … monetary policy in Canada. We show that it is crucial to take into account the break in the conduct of monetary policy caused …
Persistent link: https://www.econbiz.de/10011777945
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Dismiss the gap? : a real-time assessment of the usefulness of Canadian output gaps in forecasting inflation
Pichette, Lise; Robitaille, Marie-Noëlle; Salameh, Mohanad - 2018
We use a new real-time database for Canada to study various output gap measures. This includes recently developed …
Persistent link: https://www.econbiz.de/10011804878
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The real-time properties of the Bank of Canada's staff output gap estimates
Champagne, Julien; Poulin-Bellisle, Guillaume; Sekkel, … - 2016
We study the revision properties of the Bank of Canada's staff output gap estimates since the mid-1980s. Our results …
Persistent link: https://www.econbiz.de/10011490884