Macro

Can One Hear the Shape of a Target Zone?
We develop an exchange rate target zone model with finite exit time and non-Gaussian tails. We show how the tails are a consequence of …
Jean-Louis Arcand, Max-Olivier Hongler, Shekhar Hari Kumar, Daniele Rinaldo
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Structural Imbalances in Canadian Labor Markets
The nature of structural imbalances in the Canadian Labor market is identified by analyzing the relationship between unemployment and …
S. Gera, S. S. Rahman, Jean-Louis Arcand
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Disequilibrium Dynamics during the Great Depression
We test the flexibility of wages and prices in the U.S. before World War II using a simple two-market disequilibrium model. We test the …
Jean-Louis Arcand, Elise Brezis
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