Data show that income inequality in Canada increased substantially during the 1980s and
first half of the 1990s but has been relatively stable over the past 25 years. This increase …

This paper outlines a strategic plan for the development of the fourth generation of Bank of
Canada projection and policy analysis models. The plan features a new Canadian …

The COVID-19 pandemic forced policy-makers to deploy a range of unprecedented
measures to support the economy. In this discussion paper, we discuss the outcome of the …

The paper analyses the results of the Serbian corporate sector in the period 2013-2022,
starting with groups of companies classified by their activity, size, residency of the owner and …

• Heterogeneity is not enough by itself since there is a lot of wealth in the economy (about 4
times GDP) so• Models difficult access to wealth by imposing large transaction costs in two …

This study investigates the existence and functionality of the credit channel of monetary
policy transmission based on two primary needs of external financing: working capital and …

This study investigates the impact of contractionary monetary policy on firms' real
performance, focusing on the working capital dimension of the credit channel. Using data …

Interest Rate Changes and Economic Activity Page 1 Interest Rate Changes and Economic
Activity José-Víctor Ríos-Rull , CAERP Based on joint work with Zhen Huo (Yale) and Akihisa …

Behavioral governance is a fledgling concept in the evolution of Public Administration
toward new public governance and a breakthrough as for researchers and students of …

We model non-bank entry into fixed-income markets and state-dependent liquidity. Non-
bank financial institutions improve liquidity more during normal times than in stress. Banks …