December 4, 2018
Uncategorized
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November 30, 2018
Research Update - November 2018
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. -
November 29, 2018
Launch of the new exhibition A Noteworthy Woman
Senior Deputy Governor Carolyn A. Wilkins delivers remarks at the launch of the new Bank of Canada Museum exhibition A Noteworthy Woman, which depicts the life of Viola Desmond, the first Canadian woman to appear on a regular bank note. -
November 29, 2018
New exhibition on Viola Desmond opens at Bank of Canada Museum
The Bank of Canada Museum is inviting Canadians of all ages to visit the new exhibition A Noteworthy Woman, which depicts the life of Viola Desmond, an icon of the human rights and social justice movement in Canada and the first Canadian woman to appear on a regular bank note. -
The Trade War in Numbers
We build upon new developments in the international trade literature to isolate and quantify the long-run economic impacts of tariff changes on the United States and the global economy. -
The Propagation of Regional Shocks in Housing Markets: Evidence from Oil Price Shocks in Canada
How do global oil price shocks spread through Canada’s economy? With Canada’s regionally diverse economy in mind, we explore the implications of oil price shocks for Canadian housing markets and regional economies. We show that the belief that oil price shocks only matter in oil-rich regions is false. -
November 26, 2018
Bank of Canada announces finalists for the fourth annual Governor’s Challenge
The Bank of Canada today announced the five finalist teams in the 2018–19 edition of The Governor’s Challenge, a competition where university students simulate the role of advisor to the Bank’s Governing Council. -
Markets Look Beyond the Headline
Many reports and analyses interpret the release of new economic data based on the headline surprise—for instance, total inflation, real GDP growth and the unemployment rate. However, we find that headline news alone cannot adequately explain the responses of market prices to new information. Rather, market prices react more strongly, on average, to non-headline news such as the composition of GDP growth, quality of jobs created and revisions to past data. Thus, tracking the impact of non-headline information released on the news day is crucial in analyzing how markets interpret and react to new economic data. -
November 23, 2018
Expansion of Assets the Bank of Canada will Acquire for Balance Sheet Management Purposes
As part of the regular management of its balance sheet, the Bank of Canada acquires securities to offset its liabilities, which consist mainly of bank notes in circulation and Government of Canada deposits. -
An Alternative Estimate of Canadian Potential Output: The Multivariate State-Space Framework
In this paper, we extend the state-space methodology proposed by Blagrave et al. (2015) and decompose Canadian potential output into trend labour productivity and trend labour input. As in Blagrave et al. (2015), we include output growth and inflation expectations from consensus forecasts to help refine our estimates.