E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
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On Fiscal Multipliers: Estimates from a Medium Scale DSGE Model
This paper contributes to the debate on fiscal multipliers, in the context of a structural model. I estimate a micro-founded dynamic stochastic general equilibrium model, that features a rich fiscal policy block and a transmission mechanism for government spending shocks, using Bayesian techniques for US data. -
Evaluating the Effect of the Bank of Canada's Conditional Commitment Policy
The author evaluates the effect of the Bank of Canada's conditional commitment regarding the target overnight rate on longer-term market interest rates by taking into account the relationship between interest rates, inflation, and unemployment rates. -
The Power of Many: Assessing the Economic Impact of the Global Fiscal Stimulus
The Bank of Canada Global Economy Model (BoC-GEM) is used to examine the effect of various types of discretionary fiscal policies on different regions of the globe. The BoC-GEM is a microfounded dynamic stochastic general-equilibrium global model with six regions, multiple sectors, and international linkages.