Posts

• Labor Market Shocks and Monetary Policy

  Staff Working Paper 2023-52 Serdar Birinci, Fatih Karahan, Yusuf Mercan, Kurt See

  We develop a heterogeneous-agent New Keynesian model featuring a frictional labor market with on-the-job search to quantitatively study the positive and normative implications of employer-to-employer transitions for inflation.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Inflation and prices, Labour markets, Monetary policy JEL Code(s): E, E1, E12, E2, E24, E5, E52, J, J3, J31, J6, J62, J64

• Intermediary Market Power and Capital Constraints

  Staff Working Paper 2023-51 Jason Allen, Milena Wittwer

  We examine how intermediary capitalization affects asset prices in a framework that allows for intermediary market power. We introduce a model in which capital-constrained intermediaries buy or trade an asset in an imperfectly competitive market, and we show that weaker capital constraints lead to both higher prices and intermediary markups.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Market structure and pricing JEL Code(s): D, D4, D40, D44, G, G1, G12, G18, G2, G20, L, L1, L10

• Redefining Financial Inclusion for a Digital Age: Implications for a Central Bank Digital Currency

  Staff Discussion Paper 2023-22 Alexandra Sutton-Lalani, Sebastian Hernandez, John Miedema, Jiamin Dai, Badr Omrane

  We explore quantitative and qualitative information about Canadians who face barriers to making digital payments. We also consider the implications of ongoing digitalization for modern financial inclusion and a potential central bank digital currency.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Accessibility, Bank notes, Central bank research, Digital currencies and fintech, Digitalization, Financial services JEL Code(s): A, A1, A14, E, E4, E42, E5, E50, I, I3, I31, O, O3, O33, O5, O51
• October 3, 2023

  Bank of Canada Media Interview – Le Devoir

  Nicolas Vincent, Deputy Governor of the Bank of Canada, gave an interview to Le Devoir.

  Content Type(s): Press, Media advisories
• October 3, 2023

  Bank of Canada Media Interview – Midi info

  Nicolas Vincent, Deputy Governor of the Bank of Canada, gave an interview to Radio-Canada’s Alec Castonguay.

  Content Type(s): Press, Media advisories
• October 3, 2023

  How price setting influences inflation

  Speech summary Nicolas Vincent Chamber of Commerce of Metropolitan Montreal Montréal, Quebec

  Deputy Governor Nicolas Vincent talks about how companies set their prices, how those practices changed during the pandemic and why this remains a risk for inflation.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Firm dynamics, Inflation and prices, Price stability
• October 3, 2023

  Understanding the unusual: How firms set prices during periods of high inflation

  Remarks Nicolas Vincent Chamber of Commerce of Metropolitan Montreal Montréal, Quebec

  Deputy Governor Nicolas Vincent discusses how firms set their prices and how pricing behaviour changed in our recent environment of high inflation.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Firm dynamics, Inflation and prices, Price stability
• October 3, 2023

  Speech by Nicolas Vincent, External Non-executive Deputy Governor of the Bank of Canada

  On Tuesday, October 3, 2023, Nicolas Vincent, External Non-executive Deputy Governor of the Bank of Canada will speak before The Chamber of Commerce of Metropolitan Montreal.

  Content Type(s): Press, Media advisories
• October 3, 2023

  Le Devoir

  

  Nicolas Vincent, Deputy Governor of the Bank of Canada
  Interview with Le Devoir

  Content Type(s): Press, Media activities
• October 3, 2023

  Midi info on Radio-Canada

  

  Nicolas Vincent, Deputy Governor of the Bank of Canada
  Interview with Midi info on Radio-Canada

  Content Type(s): Press, Media activities