11 Works

Should Central Banks Worry About Nonlinearities of their Large-Scale Macroeconomic Models?

Vadym Lepetyuk, Lilia Maliar & Serguei Maliar
How wrong could policymakers be when using linearized solutions to their macroeconomic models instead of nonlinear global solutions? This question became of much practical interest during the Great Recession and the recent zero lower bound crisis. We assess the importance of nonlinearities in a scaled-down version of the Terms of Trade Economic Model (ToTEM), the main projection and policy analysis model of the Bank of Canada. In a meticulously calibrated “baby” ToTEM model with 21...

Analyzing Default Risk and Liquidity Demand during a Financial Crisis: The Case of Canada

Jason Allen, Ali Hortaçsu & Jakub Kastl
This paper explores the reliability of using prices of credit default swap contracts (CDS) as indicators of default probabilities during the 2007/2008 financial crisis. We use data from the Canadian financial system to show that these publicly available risk measures, while indicative of initial problems of the financial system as a whole, do not seem to correspond to risks implied by the cross-sectional heterogeneity in bank behavior in short-term lending markets. Strategies in, and reliance...

Cinematic virtual reality with head-motion parallax

Jayant Purushottam Thatte

Web-CDI: A system for online administration of the MacArthur-Bates Communicative Development Inventories

Benjamin Edward deMayo, Danielle Kellier, Mika Braginsky, Christina Bergmann, Cielke Hendriks, Caroline Rowland, Michael Frank & Virginia Marchman

Proyecto de Resiliencia y Ordenamiento Territorial del agua y Servicios Ecosistémicos en la Amazonía de Perú, Bolivia y Brasil

Marcelo Guevara, Marta Torres, Adrian Vogl, Sydney Moss, Gianinna Da Roit, Charlotte Weil, Jorge Caballero Espejo, Jorge Martin Pillaca Ortiz, Rafael Schmitt, Guillermo Rioja Ballivian, Iván De Oliveira, Anna Ingrid Kristina Fredriksson Häägg, Lisa Mandle, Stacie Wolny, Luis Fernández, César Ascorra Guanira, Mary Ruckelshaus, Juan Fernando Reyes, Gretchen Daily, Jesus A. Fidhel Sánchez, Luis Gallegos Chacón, Christopher Anderson, Morgan Kain, Sarah Cafasso & Mario Panduro Rosas
El libro tiene una mirada integral y busca apoyar los procesos de construcción de puentes entre ciencia y política, plantea y desarrolla una iniciativa en base al Proyecto de Resiliencia y Ordenamiento Territorial del agua y Servicios Ecosistémicos en la Amazonía de Perú, Bolivia y Brasil (PRO-Agua) de The Natural Capital Project (NatCap) de la Universidad de Stanford. Establece el paisaje amazónico trinacional de Madre de Dios (Perú), Acre (Brasil) y Pando (Bolivia) como ámbito...

Modeling cross-linguistic production of referring expressions

Brandon Waldon & Judith Degen

Pragmatically Informative Color Generation by Grounding Contextual Modifiers

Zhengxuan Wu & Desmond C. Ong

Predicting Scalar Inferences From \"Or\" to \"Not Both\" Using Neural Sentence Encoders

Elissa Li, Sebastian Schuster & Judith Degen

Multilingual BERT, Ergativity, and Grammatical Subjecthood

Isabel Papadimitriou, Ethan A. Chi, Richard Futrell & Kyle Mahowald

Centralizing Over-the-Counter Markets?

Jason Allen & Milena Wittwer
Would a shift in trading in fixed-income markets—from over the counter (bilateral trading) to a centralized electronic platform—improve welfare? We use trade-level data on the secondary market for Government of Canada debt to answer this question.

A Q-Theory of Banks

Juliane Beganau, Saki Bigio, Jeremy Majerovitz & Matías Vieyra
"The Great Recession in 2009 forced researchers and policy-makers to rethink regulations of the financial system. There has been a renewed effort to understand the behaviour of banks, their objectives and constraints, and their role in the economy. This paper contributes to that end by studying how banks react to changes in the value of their assets (generated, for example, by defaults on their loans). We argue that it is important to distinguish between the...

Registration Year

  • 2021

Resource Types

  • Text


  • Stanford University
  • Bank of Canada
  • Massachusetts Institute of Technology
  • Max Planck Institute for Psycholinguistics
  • University of Pennsylvania
  • Princeton University
  • National University of Singapore
  • University of Chicago
  • University of California, Santa Barbara
  • Santa Clara University