00000nam 2200000zi 4500 9.921968 CaOODSP 20230426085021 m o d f cr |n||||||||| 230426t20232023oncd ob f|0| 0 eng d CaOODSP eng rda CaOODSP eng eng fre n-cn--- FB3-6/2023-5E-PDF Kuncl, Martin, author. The Canadian neutral rate of interest through the lens of an overlapping-generations model / by Martin Kuncl and Dmitry Matveev. Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2023. ©2023 1 online resource (ii, 26 pages) : charts. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff discussion paper = Document d'analyse du personnel, 1914-0568 ; 2023-5 "Last updated: February 21, 2023." Includes bibliographical references (pages 22-23). "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. Includes abstract in French. Interest rates Canada. Taux d'intérêt Canada. Bank of Canada, issuing body. Staff discussion paper (Bank of Canada) 2023-5. (CaOODSP)9.806273 PDF 755 KB https://publications.gc.ca/collections/collection_2023/banque-bank-canada/FB3-6-2023-5-eng.pdf