Completed Working Papers

7. The Real Interest Rate Channel is Structural in Contemporary New-Keynesian Models (with Joshua Brault). July 2019.

6. Collusion and Antitrust Filings over the Business Cycle (with Matthew Strathearn). December 2018.

5.  A Structural Analysis of US Entry-Exit Dynamics   (with Miguel Casares and Jean-Christophe Poutineau). February 2018.

4. Do Real Estate Shocks Affect Corporate Investment? (with Timothy Greider). December 2017.

3. Why Does Household Investment Lead Business Investment Over the Business Cycle?: Comment. (with Jean-Francois Rouillard).   December 2016.

2. Investment-Specific News Dominates TFP News in Driving US Business Cycles. (with Nadav Ben Zeev). September 2016.

1. Entrepreneurship and the Business Cycle: Stylized Facts from U.S. Venture Capital Activity. (with Pythagoras Petratos). September 2016

Published

24. The Shifts in Lead-Lag Properties of the US Business Cycle (with Joshua Brault).  Forthcoming Economic Inquiry.

23.  Monetary News Shocks (with Nadav Ben Zeev and Christopher Gunn). Forthcoming Journal of Money, Credit and Banking.

22. Rules-Based Monetary Policy and the Threat of Indeterminacy When Trend Inflation Is Low (with Louis Phaneuf and Jean-Gardy Victor). Forthcoming Journal of Monetary Economics.

21.   Does Business Confidence Matter for Investment?   (with Santosh Upadhayaya). Forthcoming Empirical Economics.

20. Carbon Emissions and Business Cycles.  (with Christopher R. Knittel, Konstantinos Metaxoglou, and Maya Papineau).  NBER Working Paper 22294.
With financial support from an SSHRC IDG Grant.  Journal of Macroeconomics [Lead Article],  Volume 60, June 2019, Pages 1-19.

19. Sources of Canadian Economic Growth (with S. Hasanzadeh).  Canadian Journal of Economics, 52, Issue 1, February 2019, Pages 279 – 302.

18. Household Borrowing Constraints and Residential Investment Dynamics (with Jean-Francois Rouillard).  Journal of Economic Dynamics & Control [Lead Article], Vol 95October 2018, 1-18.

17. House Prices and Government Spending Shocks (with A. Reza). Journal of Money, Credit and Banking, Vol 49, Number 6, September 2017, 1247-1271.

16. Business Dynamism and Economic Growth: US Regional Evidence (with M. Casares). International Review of Entrepreneurship 14(4), December 2016, 423-446.

15. Investment-Specific News Shocks and U.S. Business Cycles (with N. Ben Zeev). Journal of Money, Credit and Banking, Volume 47, Issue 7, September 2015, 1443-1464.

14. The Stock Market and the Consumer Confidence Channel: Evidence from Canada (co-author L. Karnizova). Empirical Economics, Vol. 49, Issue 2, 2015, 551-573.

13. Effects of Productivity Shocks on Hours-Worked: U.K. Evidence (with J. Tsoukalas). B.E. Journal of Macroeconomics (Contributions) Vol. 13, Issue 1, September 2013.

12. Markups and Oil Prices in Canada (with B-G. Kim). Economic Modelling 30, January 2013, 799-813.

11. The Quantitative Importance of News Shocks in Estimated DSGE Models (with J. Tsoukalas). Journal of Money, Credit and Banking Vol.44, No.8, 2012, 1535-1561.

10. Investment Shocks and the Comovement Problem (with J. Tsoukalas), Journal of Economic Dynamics and Control.35, 2011, 115-130

9. Investment Adjustment Costs: An Empirical Assessment (with C. Groth), Journal of Money, Credit and Banking [Lead Article] 42(8), 2010, 1469-1494

8.Inventory Investment and the Real Interest Rate (with S. Junayed). Economics: The Open-Access, Open-Assessment E-Journal, Vol. 3, 2009-34

7.The Phillips Curve Under State-Dependent Pricing (with B. Rudolf and H. Bakhshi). Journal of Monetary Economics, Vol 54, Issue 8, November 2008, 2321-2345.

6. The New Keynesian Phillips Curve under Trend Inflation and Strategic Complementarity (with B. Rudolf, P. Burriel, and H. Bakhshi). Journal of Macroeconomics, Vol 29, Number 1, March 2007, 37-59.

5. Estimates of Sticky Information Phillips Curve for the United States (with Z. Zhu). Journal of Money, Credit, and Banking, Vol 38, Number 1, 2006, 197-207.

4. New Phillips Curve under Alternative Technologies for Canada, the United States, and the Euro Area (with E. Gagnon). European Economic Review, 19(6), August 2005, 1571-1602.

3. Price-Setting Behaviour, Competition, and Markup Shocks in the New Keynesian Model. Economics Letters, Vol 87, 3, June 2005, 329-335.

2. Price Stickiness, Trend Inflation, and Output Dynamics: A Cross-Country Analysis. Canadian Journal of Economics, 37 (4), 2004, 999-1020.

1. Price Stickiness, Inflation, and Real Exchange Rate Dynamics: A Cross-Country AnalysisEconomics Letters, 71(2), 2001, 247-253.


Older papers and notes

1. Notes on the Derivation of New Keynesian Phillips Curve Under Positive Steady State Inflation (with B. Rudolf).

2. Competitiveness, Inflation, and Monetary Policy (with R. Moessner). Bank of England Working Paper no. 246.

3. The contribution of Information Technology Sector to Output and Labour Productivity Growth in Canada (with M. Santos). Bank of Canada Working Paper 2002-07.

4. Product Diffusion, Increasing Returns to Specialization and the Propagation of Shocks.