00000nam 2200000zi 4500 9.893224 CaOODSP 20221107173404 m o d f cr cn||||||||| 201104t20202020onca ob f000 0 eng d CaOODSP eng rda CaOODSP n-cn--- x8y1 FB3-5/2020-44E-PDF Cao, Shutao, author. Production networks and the propagation of commodity price shocks / by Shutao Cao and Wei Dong. Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2020. ©2020 1 online resource (ii, 41 pages) : colour illustrations. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff working paper = Document de travail du personnel, 1701-9397 ; 2020-44 "Last updated: November 2, 2020." Includes bibliographical references (pages 31-32). "We examine the macro implications of commodity price shocks in a general equilibrium model with input-output linkages for a commodity-exporting small open economy. In the model, fluctuations in commodity price affect aggregate output not only through resource reallocation, currency value changes and monetary policy reaction, but also through upstream and downstream input-output linkages (both domestically and with the rest of the world). Calibrated to the Canadian economy, our model is able to explain a large part of the decline in real gross domestic product (GDP) in 2015 and 2016 following the sharp drop in commodity prices. We find that as the model economy adjusts to a commodity price shock, domestic downstream linkages and the export connection with the rest of the world play an important role"--Abstract, page ii. Prices Canada Econometric models. Gross domestic product Canada Econometric models. Business cycles Canada Econometric models. Prix Canada Modèles économétriques. Produit intérieur brut Canada Modèles économétriques. Cycles économiques Canada Modèles économétriques. Bank of Canada, issuing body. Staff working paper (Bank of Canada) 2020-44. (CaOODSP)9.806221 PDF 734 KB https://publications.gc.ca/collections/collection_2020/banque-bank-canada/FB3-5-2020-44-eng.pdf