Posts

• Job Applications and Labour Market Flows

  Staff Working Paper 2021-49 Serdar Birinci, Kurt See, Shu Lin Wee

  Although the number of job applications has risen, job-finding rates remain relatively unchanged while job-separation rates have significantly declined. Rather than raising the probability of finding a job, we find that a rise in applications raises the probability of finding a good match, as evidenced by the decline in separation rates.

  Content Type(s): Staff research, Staff working papers Topic(s): Labour markets, Productivity JEL Code(s): E, E2, E24, J, J6, J63, J64
• October 12, 2021

  CFIF Meeting (October 12, 2021)

  Content Type(s): Meetings Source(s): Canadian Fixed-Income Forum
• October 7, 2021

  The long and short of it: A balanced vision for the international monetary and financial system

  Remarks (delivered virtually) Tiff Macklem Council on Foreign Relations Washington, D.C.

  Governor Tiff Macklem advocates for global coordination to strengthen the international monetary and financial system.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Development economics, Exchange rate regimes, Financial system regulation and policies, Foreign reserves management, International financial markets, International topics, Trade integration
• October 7, 2021

  Investing in global progress

  Speech summary Tiff Macklem Council on Foreign Relations Washington, D.C.

  Governor Tiff Macklem makes the case for greater cooperation to shape a stronger international monetary and financial system.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Development economics, Exchange rate regimes, Financial system regulation and policies, Foreign reserves management, International financial markets, International topics, Trade integration

• Assessing Labour Market Slack for Monetary Policy

  Staff Discussion Paper 2021-15 Erik Ens, Laurence Savoie-Chabot, Kurt See, Shu Lin Wee

  Measuring labour market slack is essential for central banks: without full employment in the economy, inflation will not stay close to target. We propose a comprehensive approach to assessing labour market slack that reflects the complexity and diversity of the labour market.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Business fluctuations and cycles, Coronavirus disease (COVID-19), Econometric and statistical methods, Labour markets, Monetary policy JEL Code(s): E, E2, E24, J, J2, J21, J6

• Foreign Exchange Fixings and Returns Around the Clock

  Staff Working Paper 2021-48 Ingomar Krohn, Philippe Mueller, Paul Whelan

  We document a new empirical finding in the foreign exchange market: currency returns show systematic reversals around the benchmark fixings. Specifically, the US dollar, on average, appreciates in the hours before fixes and depreciates after fixes.

  Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates, Financial markets, Market structure and pricing JEL Code(s): F, F3, F31, G, G1, G15

• Energy Efficiency and Fluctuations in CO2 Emissions

  Staff Working Paper 2021-47 Soojin Jo, Lilia Karnizova

  Carbon dioxide emissions have been commonly modelled as rising and falling with total output. Yet many factors, such as energy-efficiency improvements and shifts to cleaner energy, can break this relationship. We evaluate these factors using US data and find that changes in energy efficiency of consumption goods explain a significant proportion of emissions fluctuations. This finding also implies that models that omit energy efficiency likely overestimate the trade-off between environmental protection and economic performance.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Climate change, Econometric and statistical methods JEL Code(s): E, E3, E32, Q, Q4, Q43, Q5, Q50, Q55
• October 5, 2021

  CORRA Advisory Group Meeting (October 5, 2021)

  Content Type(s): Meetings Source(s): CORRA Advisory Group
• October 4, 2021

  Operational details for upcoming secondary market purchases of Government of Canada securities (October 11–22)

  As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP).

  Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program
• September 30, 2021

  Research Update - September 2021

  This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website.

  Content Type(s): Staff research, Research newsletters