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001	9.950061
003	CaOODSP
005	20250411145856
006	m     o  d f
007	cr mn|||||||||
008	250411t20242024oncd    ob   f|0| 0 eng d
040	|aCaOODSP|beng|erda|cCaOODSP
041	|aeng|beng|bfre
043	|an-cn---
086	1 |aFB3-5/2024-39E-PDF
100	1 |aAlves, Felipe, |eauthor.
245	10|aFrom micro to macro hysteresis : |blong-run effects of monetary policy / |cby Felipe Alves and Giovanni L. Violante.
264	1|a[Ottawa] : |bBank of Canada = Banque du Canada, |c2024.
264	4|c©2024
300	|a1 online resource (ii, 39 pages) : |bgraphs.
336	|atext|btxt|2rdacontent
337	|acomputer|bc|2rdamedia
338	|aonline resource|bcr|2rdacarrier
490	1 |aStaff working paper = Document de travail du personnel, |y1701-9397 ; |v2024-39
500	|aISSN assigned to different series.
500	|a"Last updated: October 24, 2024."
504	|aIncludes bibliographical references (pages 37-39).
520	3 |a"We develop a Heterogeneous Agent New Keynesian model with a three-state frictional labour market that is consistent with the empirical evidence that (i) low-skilled workers are more exposed to the business cycle, (ii) displacement leads to long-lasting earnings losses, and (iii) unemployment is a stepping stone toward exit from the labor force. In this environment, a transient contractionary monetary policy shock induces a very persistent reduction in labour force participation and labour productivity, especially among workers at the bottom of the skill distribution"--Abstract, page ii.
546	|aIncludes abstract in French.
650	0|aMonetary policy|xEconomic aspects|zCanada.
650	0|aLabor market|zCanada.
650	6|aPolitique monétaire|xAspect économique|zCanada.
650	6|aMarché du travail|zCanada.
710	2 |aBank of Canada, |eissuing body.
830	#0|aStaff working paper (Bank of Canada)|v2024-39.|w(CaOODSP)9.806221
856	40|qPDF|s894 KB|uhttps://publications.gc.ca/collections/collection_2025/banque-bank-canada/FB3-5-2024-39-eng.pdf