Paul Beaudry
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View article: Neural Network Learning for Nonlinear Economies
Neural Network Learning for Nonlinear Economies Open
Neural networks offer a promising tool for the analysis of nonlinear economies.In this paper, we derive conditions for the global stability of nonlinear rational expectations equilibria under neural network learning.We demonstrate the appl…
View article: Dynamic Identification in VARs
Dynamic Identification in VARs Open
Most macroeconomic models, both fully structural models as well as SVAR models, view economic outcomes as the product of a combination of endogenous and exogenous dynamic forces. In particular, the exogenous forces are generally modeled as…
View article: Life-cycle Forces make Monetary Policy Transmission Wealth-centric
Life-cycle Forces make Monetary Policy Transmission Wealth-centric Open
This paper adds life-cycle features to a New Keynesian model and shows how this places financial wealth at the center of consumption/saving decisions, thereby enriching the determinants of aggregate demand and affecting the transmission of…
View article: The Dominant Role of Expectations and Broad-Based Supply Shocks in Driving Inflation
The Dominant Role of Expectations and Broad-Based Supply Shocks in Driving Inflation Open
The object of this paper is to assess the role of supply shocks, labour market tightness and expectation formation in explaining bouts of inflation.We begin by showing that a quasi-flat Phillips curve, which was popular prior to the pandem…
View article: Asset Demand and Real Interest Rates
Asset Demand and Real Interest Rates Open
Understanding factors that drive asset demand is central to explaining movements in long-term real interest rates.In this paper, we begin by documenting that much of the increase in the demand for assets in the US in the 30 years prior to …
View article: The Central Bank's Dilemma: Look Through Supply Shocks or Control Inflation Expectations?
The Central Bank's Dilemma: Look Through Supply Shocks or Control Inflation Expectations? Open
When countries are hit by supply shocks, central banks often face the dilemma of either looking through such shocks or reacting to them to ensure that inflation expectations remain anchored.In this paper, we propose a tractable framework t…
View article: Should a biopsy be obtained prior to surgery in children with pancreatic masses? A case report describing the difficult journey of an adolescent undergoing treatments for a rhabdomyosarcoma of the head of the pancreas following primary pancreaticoduodenectomy for a suspected solid pseudopapillary tumor
Should a biopsy be obtained prior to surgery in children with pancreatic masses? A case report describing the difficult journey of an adolescent undergoing treatments for a rhabdomyosarcoma of the head of the pancreas following primary pancreaticoduodenectomy for a suspected solid pseudopapillary tumor Open
Pancreaticoduodenectomy, a procedure rarely performed in children, can lead to significant morbidity. Rhabdomyosarcoma is the most frequent soft tissue sarcoma in pediatrics. Treatment consists of chemotherapy, while local control can be a…
View article: Monetary Policy, Trends in Real Interest Rates and Depressed Demand
Monetary Policy, Trends in Real Interest Rates and Depressed Demand Open
Over the last few decades, real interest rates have trended downward in many countries. The most common explanation is that this reflects depressed demand due to demographic, technological and other real factors such as income inequality. …
View article: Impact of implementing a fast-track protocol and standardized guideline for the management of pediatric appendicitis
Impact of implementing a fast-track protocol and standardized guideline for the management of pediatric appendicitis Open
The implementation of a provincial guideline aimed at standardizing care in pediatric appendicitis at our institution was associated with shortened LOS, improved antibiotic stewardship efforts and reduced cost of care. Other institutions m…
View article: Developing implementation strategies to adopt Enhanced Recovery After Surgery (ERAS®) guidelines
Developing implementation strategies to adopt Enhanced Recovery After Surgery (ERAS®) guidelines Open
Background Strong implementation strategies are critical to the success of Enhanced Recovery after Surgery (ERAS®) guidelines, though little documentation exists on effective strategies, especially in complex clinical situations and unfami…
View article: On the Macroeconomic Consequences of Over-Optimism
On the Macroeconomic Consequences of Over-Optimism Open
Is over-optimism about a country's future growth perspective good for an economy, or does overoptimism also come with costs?In this paper we document that recessions, fiscal problems, as well as Balance of Payment-difficulties are more lik…
View article: On the Macroeconomic Consequences of Over-Optimism
On the Macroeconomic Consequences of Over-Optimism Open
Is over-optimism about a country's future growth perspective good for an economy, or does over-optimism also come with costs? In this paper we provide evidence that recessions, fiscal problems, as well as Balance of Payment-difficulties ar…
View article: Real Keynesian Models and Sticky Prices
Real Keynesian Models and Sticky Prices Open
In this paper we present a generalized sticky price model which allows, depending on the parameterization, for demand shocks to maintain strong expansionary effects even in the presence of perfectly flexible prices.The model is constructed…
View article: Replication data for: In Search of Labor Demand
Replication data for: In Search of Labor Demand Open
We propose and estimate a novel specification of labor demand which encompasses search frictions and the role of entrepreneurs in new firm creation. Using city-industry variation over four decades, we estimate the wage elasticity of employ…
View article: Real Keynesian Models and Sticky Prices
Real Keynesian Models and Sticky Prices Open
In this paper we present a generalized sticky price model which allows, depending on the\nparameterization, for demand shocks to maintain strong expansionary effects even in the\npresence of perfectly flexible prices. The model is construc…