Posts

• Firm Heterogeneity, Technological Adoption, and Urbanization: Theory and Measurement

  Staff Working Paper 2017-27 Alex Chernoff

  This paper develops a model of firm heterogeneity, technological adoption, and urbanization. In the model, welfare is measured by household real income, and urbanization is measured by population density. I use the model to derive statistics that measure the effect of a new technology on productivity, welfare, and urbanization.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Productivity, Regional economic developments JEL Code(s): N, N6, N61, O, O1, O14, R, R1, R13

• Quantitative Easing and Long‐Term Yields in Small Open Economies

  Staff Working Paper 2017-26 Antonio Diez de los Rios, Maral Shamloo

  We compare the Federal Reserve’s asset purchase programs with those implemented by the Bank of England and the Swedish Riksbank, and the Swiss National Bank’s reserve expansion program.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Interest rates, Monetary policy JEL Code(s): E, E4, E43, E5, E52, E58, G, G1, G12
• July 19, 2017

  Bank of Canada recognizes RCMP’s Integrated Counterfeit Enforcement Team with Award of Excellence for Counterfeit Deterrence

  Media Relations Montréal, Quebec

  The Bank of Canada today presented the Royal Canadian Mounted Police’s Integrated Counterfeit Enforcement Team (ICET), C Division (Quebec), with the 2017 Law Enforcement Award of Excellence for Counterfeit Deterrence.

  Content Type(s): Press, Press releases
• July 14, 2017

  Weekly Financial Statistics - 14 July 2017

  Content Type(s): Publications, Historical: Weekly Financial Statistics

• Monetary Policy Implementation in a Negative Rate Environment

  Staff Working Paper 2017-25 Michael Boutros, Jonathan Witmer

  Monetary policy implementation could, in theory, be constrained by deeply negative rates since overnight market participants may have an incentive to invest in cash rather than lend to other participants.

  Content Type(s): Staff research, Staff working papers Topic(s): Interest rates, Monetary policy framework, Monetary policy implementation JEL Code(s): E, E4, E40, E42, E43, G, G0
• July 12, 2017

  Monetary Policy Report Press Conference Opening Statement

  Opening statement Stephen S. Poloz, Carolyn A. Wilkins Ottawa, Ontario

  Governor Stephen S. Poloz discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.

  Content Type(s): Press, Speeches and appearances, Opening statements Topic(s): Inflation and prices, Interest rates, Labour markets, Monetary policy, Monetary policy implementation, Recent economic and financial developments
• July 12, 2017

  Bank of Canada increases overnight rate target to 3/4 per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada is raising its target for the overnight rate to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent.

  Content Type(s): Press, Press releases
• July 12, 2017

  Monetary Policy Report – July 2017

  

  Growth in the Canadian economy is projected to reach 2.8 per cent this year before slowing to 2.0 per cent next year and 1.6 per cent in 2019.

  Content Type(s): Publications, Monetary Policy Report

• Labour Force Participation: A Comparison of the United States and Canada

  Staff Analytical Note 2017-9 James Ketcheson, Natalia Kyui, Benoit Vincent

  This note explores the drivers behind the recent increase in the US participation rate in the labour market and assesses the likelihood of a similar gain in Canada. The growth in the US participation rate has largely been due to a pickup in the participation of prime-age workers following a post-recession decline.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Labour markets, Recent economic and financial developments JEL Code(s): E, E2, E24, J, J2, J21

• Wage Growth in Canada and the United States: Factors Behind Recent Weakness

  Staff Analytical Note 2017-8 Dany Brouillette, James Ketcheson, Olena Kostyshyna, Jonathan Lachaine

  This note examines the relatively subdued pace of wage growth in Canada since the commodity price decline in 2014 and assesses whether the weakness is attributable to cyclical (e.g., labour market slack) or structural factors (e.g., resource reallocation and demographic change).

  Content Type(s): Staff research, Staff analytical notes Topic(s): Labour markets, Recent economic and financial developments JEL Code(s): E, E2, E24, J, J3, J30