International topics

• Assessing Global Potential Output Growth: April 2019

  Staff Analytical Note 2019-13 Fares Bounajm, Jean-Philippe Cayen, Michael Francis, Christopher Hajzler, Kristina Hess, Guillaume Poulin-Bellisle, Peter Selcuk

  This note presents the updated estimates of potential output growth for the global economy through 2021. Global potential output is expected to grow by 3.3 per cent per year over the projection horizon.

  Content Type(s): Staff research, Staff analytical notes Topic(s): International topics, Potential output, Productivity JEL Code(s): E, E1, E10, E2, E20, O, O4

• Global Commodity Markets and Rebalancing in China: The Case of Copper

  Staff Discussion Paper 2019-3 Jeannine Bailliu, Doga Bilgin, Kun Mo, Kurt Niquidet, Benjamin Sawatzky

  Given that China accounts for about half of global copper consumption, it is reasonable to expect that any significant change in Chinese copper consumption will have an impact on the global market.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Econometric and statistical methods, International topics JEL Code(s): O, O1, O13, O14, Q, Q0, Q02
• April 1, 2019

  Poloz talks trade: Canada’s services a bright spot

  Speech summary Stephen S. Poloz Baffin Regional Chamber of Commerce (BRCC) and the Nunavut Mining Symposium (NMS) Iqaluit, Nunavut

  Stephen S. Poloz, Governor of the Bank of Canada, will speak before the Baffin Regional Chamber of Commerce (BRCC) and the Nunavut Mining Symposium.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): International topics, Labour markets, Service sector, Trade integration
• April 1, 2019

  Turbulent Times for Trade

  Remarks Stephen S. Poloz Baffin Regional Chamber of Commerce (BRCC) and the Nunavut Mining Symposium (NMS) Iqaluit, Nunavut

  Governor Poloz talks about slowing international trade and how Canada’s rapidly growing services industries can help drive exports and growth.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): International topics, Labour markets, Service sector, Trade integration

• Drivers of Weak Wage Growth in Advanced Economies

  Staff Analytical Note 2019-3 Anne-Katherine Cormier, Michael Francis, Kristina Hess, Guillaume Poulin-Bellisle

  Since the global financial crisis, advanced-economy wage growth has been generally low relative to past recoveries, especially after accounting for the evolution of labour market conditions over this period. This paper investigates a variety of potential explanations for this weakness, drawing on findings from the literature as well as analysis of recent labour market data in advanced economies.

  Content Type(s): Staff research, Staff analytical notes Topic(s): International topics, Labour markets JEL Code(s): E, E3, E31, F, F0, J, J3

• Can Capital Deepening Explain the Global Decline in Labor’s Share?

  Staff Working Paper 2019-3 Andrew Glover, Jacob Short

  We estimate an aggregate elasticity of substitution between capital and labor near or below one, which implies that capital deepening cannot explain the global decline in labor's share. Our methodology derives from transition paths in the neo-classical growth model.

  Content Type(s): Staff research, Staff working papers Topic(s): Firm dynamics, International topics, Labour markets JEL Code(s): E, E1, E13, E2, E22, E25, J, J3