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| 02458nam 2200409zi 4500 |
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| 001 | 9.928300 |
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| 003 | CaOODSP |
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| 005 | 20231006123104 |
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| 006 | m o d f |
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| 007 | cr mn||||||||| |
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| 008 | 231006t20232023onca ob f000 0 eng d |
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| 040 | |aCaOODSP|beng|erda|cCaOODSP |
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| 041 | 0 |aeng|beng|bfre |
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| 086 | 1 |aFB3-5/2023-52E-PDF |
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| 100 | 1 |aBirinci, Serdar, |eauthor. |
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| 245 | 10|aLabor market shocks and monetary policy / |cby Serdar Birinci, Fatih Karahan, Yusuf Mercan and Kurt See. |
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| 264 | 1|a[Ottawa] : |bBank of Canada = Banque du Canada, |c2023. |
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| 264 | 4|c©2023 |
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| 300 | |a1 online resource (ii, 46, 24 pages) : |bcolour illustrations. |
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| 336 | |atext|btxt|2rdacontent |
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| 337 | |acomputer|bc|2rdamedia |
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| 338 | |aonline resource|bcr|2rdacarrier |
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| 490 | 1 |aStaff working paper = Document de travail du personnel, |y1701-9397 ; |v2023-52 |
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| 500 | |aISSN assigned to different series. |
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| 500 | |a"Last updated: October 5, 2023." |
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| 504 | |aIncludes bibliographical references (pages 44-46). |
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| 520 | 3 |a"We develop a heterogeneous-agent New Keynesian model featuring a frictional labor market with on-the-job search to quantitatively study the positive and normative implications of employer-to-employer (EE) transitions for inflation. We find that EE dynamics played an important role in shaping the differential inflation dynamics observed during the Great Recession and COVID-19 recoveries, with the former exhibiting subdued EE transitions and inflation despite both episodes sharing similar unemployment dynamics. The optimal monetary policy prescribes a strong positive response to EE fluctuations, implying that central banks should distinguish between recovery episodes with similar unemployment but different EE dynamics"--Abstract, page ii. |
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| 546 | |aIncludes abstracts in English and French. |
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| 650 | 0|aLabor market|xEconometric models. |
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| 650 | 0|aInflation (Finance)|xEconometric models. |
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| 650 | 0|aMonetary policy|xEconometric models. |
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| 650 | 6|aMarché du travail|xModèles économétriques. |
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| 650 | 6|aInflation|xModèles économétriques. |
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| 650 | 6|aPolitique monétaire|xModèles économétriques. |
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| 710 | 2 |aBank of Canada, |eissuing body. |
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| 830 | #0|aStaff working paper (Bank of Canada)|v2023-52.|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s1.93 MB|uhttps://publications.gc.ca/collections/collection_2023/banque-bank-canada/FB3-5-2023-52-eng.pdf |
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