Francisco Covas

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Monetary Policy Report - April 2017

Canada’s economy is expected to grow by 2 1/2 per cent this year and just below 2 per cent in 2018 and 2019.

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Monetary Policy Report - April 2017

Canada’s economy is expected to grow by 2 1/2 per cent this year and just below 2 per cent in 2018 and 2019.

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Canada and Mexico: Common Issues in Uncommon Times - Stephen S. Poloz, the Governor of the Bank of Canada, speaks before the CanCham México and Club de Industriales. (16:25 (ET) approx.)

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Latest

Price-Level versus Inflation Targeting with Financial Market Imperfections

Staff Working Paper 2008-26 Francisco Covas, Yahong Zhang

This paper compares price-level-path targeting (PT) with inflation targeting (IT) in a sticky-price, dynamic, general equilibrium model augmented with imperfections in both the debt and equity markets.

Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models, Inflation targets, Monetary policy framework JEL Code(s): E, E4, E40, E5, E50

Cyclical Behavior of Debt and Equity Using a Panel of Canadian Firms

Staff Working Paper 2007-44 Francisco Covas, Wouter den Haan

We document the cyclical behavior of debt, equity, and retained earnings for different firm categories using firm-level Canadian data.

Content Type(s): Staff Research, Staff Working Papers Topic(s): Business fluctuations and cycles JEL Code(s): E, E3, E32, G, G3, G32

The Role of Debt and Equity Finance over the Business Cycle

Staff Working Paper 2006-45 Francisco Covas, Wouter den Haan

The authors show that debt and equity issuance are procyclical for most listed U.S. firms.

Content Type(s): Staff Research, Staff Working Papers Topic(s): Business fluctuations and cycles, Financial stability JEL Code(s): E, E3, G, G1, G3

Uninsured Idiosyncratic Production Risk with Borrowing Constraints

Staff Working Paper 2005-26 Francisco Covas

The author analyzes a general-equilibrium model of a heterogeneous agents economy in which the agents are subject to borrowing constraints and uninsurable idiosyncratic production risk.

Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models, Financial Institutions, Financial markets JEL Code(s): E, E2, E22, G, G1, G11, M, M1, M13

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