Posts

• November 3, 2023

  Bank of Canada Media Interview – Bloomberg

  Carolyn Rogers, Senior Deputy Governor of the Bank of Canada, gave an interview to Bloomberg News.

  Content Type(s): Press, Media advisories
• November 1, 2023

  Opening Statement before the Standing Senate Committee on Banking, Commerce and the Economy

  Opening statement Tiff Macklem Standing Senate Committee on Banking, Commerce and the Economy Ottawa, Ontario

  Content Type(s): Press, Speeches and appearances, Opening statements
• November 1, 2023

  Parliamentary Appearance by the Governor and the Senior Deputy Governor of the Bank of Canada

  On Wednesday, November 1, 2023, the Governor of the Bank of Canada, Tiff Macklem, will appear before the Standing Senate Committee on Banking, Commerce and the Economy. He will be accompanied by Senior Deputy Governor Carolyn Rogers.

  Content Type(s): Press, Media advisories

• International Portfolio Rebalancing and Fiscal Policy Spillovers

  Staff Working Paper 2023-56 Sami Alpanda, Uluc Aysun, Serdar Kabaca

  We evaluate, both empirically and theoretically, the spillover effects that debt-financed fiscal policy interventions of the United States have on other economies. We consider a two-country model with international portfolio rebalancing effects. We show that US fiscal expansions would increase global long-term rates and hinder economic activity in the rest of the world.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Fiscal policy, International topics JEL Code(s): E, E3, E32, E6, E62, F, F4, F41, F44

• Digitalization: Prices of Goods and Services

  Staff Discussion Paper 2023-27 Vivian Chu, Tatjana Dahlhaus, Christopher Hajzler

  This paper outlines and assesses the various channels through which digitalization can affect prices of goods and services.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Digitalization, Inflation and prices, Market structure and pricing, Monetary policy JEL Code(s): D, D2, E, E3, E31, E5, E52, L, L1, L11
• October 30, 2023

  Parliamentary Appearance by the Governor and the Senior Deputy Governor of the Bank of Canada

  On Monday, October 30, 2023, the Governor of the Bank of Canada, Tiff Macklem, will appear before the House of Commons Standing Committee on Finance. He will be accompanied by Senior Deputy Governor Carolyn Rogers.

  Content Type(s): Press, Media advisories
• October 30, 2023

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening statement Tiff Macklem House of Commons Standing Committee on Finance Ottawa, Ontario

  Content Type(s): Press, Speeches and appearances, Opening statements

• Machine learning for economics research: when, what and how

  Staff Analytical Note 2023-16 Ajit Desai

  This article reviews selected papers that use machine learning for economics research and policy analysis. Our review highlights when machine learning is used in economics, the commonly preferred models and how those models are used.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Central bank research, Econometric and statistical methods, Economic models JEL Code(s): A, A1, A10, B, B2, B23, C, C4, C45, C5, C55

• The Heterogeneous Impacts of Job Displacement: Evidence from Canadian Job Separation Records

  Staff Working Paper 2023-55 Serdar Birinci, Youngmin Park, Kurt See

  When estimating earnings losses upon job separation, existing strategies focus on separations in mass layoffs to distinguish involuntary separations from voluntary separations. We revisit the measurement of the sources and consequences of job displacement using Canadian job separation records.

  Content Type(s): Staff research, Staff working papers Topic(s): Labour markets, Potential output, Productivity JEL Code(s): E, E2, E24, E3, E32, J, J3, J31, J6, J63, J65

• Borrow Now, Pay Even Later: A Quantitative Analysis of Student Debt Payment Plans

  Staff Working Paper 2023-54 Michael Boutros, Nuno Clara, Francisco Gomes

  We investigate alternative student debt contracts that defer payments and ease the burden of student loans on US households by preserving disposable income early in borrowers’ lives. Our model shows substantial welfare gains from these contracts relative to existing plans and gains similar to the Biden administration's proposals but with a significantly lower cost.

  Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Economic models, Financial markets, Labour markets, Market structure and pricing JEL Code(s): E, E2, G, G5, H, H3