The Canadian neutral rate of interest through the lens of an overlapping-generations model / by Martin Kuncl and Dmitry Matveev. : FB3-6/2023-5E-PDF
"The neutral rate of interest is an important concept and communication tool for central banks. We develop a small open economy model with overlapping generations to study the determinants of the neutral real rate of interest in a small open economy. The model captures domestic factors such as population aging, declining productivity, rising government debt and inequality. Foreign factors are captured by changes in the global neutral real rate. We use the model to evaluate secular dynamics of the neutral rate in Canada from 1980 to 2018. We find that changes in both foreign and domestic factors resulted in a protracted decline in the neutral rate"--Abstract.
Lien permanent pour cette publication :
publications.gc.ca/pub?id=9.921968&sl=1
| Ministère/Organisme | Bank of Canada, issuing body. |
|---|---|
| Titre | The Canadian neutral rate of interest through the lens of an overlapping-generations model / by Martin Kuncl and Dmitry Matveev. |
| Titre de la série | Staff discussion paper = Document d'analyse du personnel, 1914-0568 ; 2023-5 |
| Type de publication | Série - Voir l'enregistrement principal |
| Langue | [Anglais] |
| Format | Électronique |
| Document électronique | |
| Note(s) | "Last updated: February 21, 2023." Includes bibliographical references (pages 22-23). Includes abstract in French. |
| Information sur la publication | Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2023. ©2023 |
| Auteur / Contributeur | Kuncl, Martin, author. |
| Description | 1 online resource (ii, 26 pages) : charts. |
| Numéro de catalogue |
|
| Descripteurs | Interest rates -- Canada. Taux d'intérêt -- Canada. |
Demander des formats alternatifs
Pour demander une publication dans un format alternatif, remplissez le formulaire électronique des publications du gouvernement du Canada. Utilisez le champ du formulaire «question ou commentaire» pour spécifier la publication demandée.- Date de modification :