Labour markets

• March 30, 2016

  Adjusting to the Fall in Commodity Prices: One Step at a Time

  Remarks Lynn Patterson Edmonton Chamber of Commerce Edmonton, Alberta

  Deputy Governor Lynn Patterson discusses how the Canadian economy is adjusting to the fall in commodity prices.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Business fluctuations and cycles, Domestic demand and components, Labour markets, Monetary policy, Recent economic and financial developments, Regional economic developments

• Canadian Labour Market Dispersion: Mind the (Shrinking) Gap

  Staff Analytical Note 2016-3 David Amirault, Naveen Rai

  Shocks to a currency area can and often do have asymmetric impacts on its regions that, in the absence of perfect labour mobility, lead to gaps in relative labour market performance. Witness, for example, the effects of the 2008/09 recession and subsequent financial crisis in Europe on the dispersion of employment rates across the euro area – and to a lesser extent the United States.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Labour markets, Regional economic developments JEL Code(s): J, J0, J01, R, R2, R23

• Capital Structure, Pay Structure and Job Termination

  Staff Working Paper 2016-12 Jason Allen, James R. Thompson

  We develop a model to analyze the link between financial leverage, worker pay structure and the risk of job termination. Contrary to the conventional view, we show that even in the absence of any agency problem among workers, variable pay can be optimal despite workers being risk averse and firms risk neutral.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Labour markets JEL Code(s): G, G2, G24, J, J3, J33