September 10, 2019
Posts
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The Simple Economics of Global Fuel Consumption
This paper presents a structural framework of the global oil market that relies on information on global fuel consumption to identify flow demand for oil. We show that under mild identifying assumptions, data on global fuel consumption help to provide comparatively sharp insights on elasticities and other key structural parameters of the global oil market. -
Exchange Rates, Retailers, and Importing: Theory and Firm-Level Evidence
We develop a model with firm heterogeneity in importing and cross-border shopping among consumers. Exchange-rate appreciations lower the cost of imported goods, but also lead to more cross-border shopping; hence, the net impact on aggregate retail prices and sales is ambiguous. -
The Intergenerational Correlation of Employment: Is There a Role for Work Culture?
We document a substantial positive correlation of employment status between mothers and their children in the United States, linking data from the National Longitudinal Survey of Youth 1979 (NLSY79) and the NLSY79 Children and Young Adults. After controlling for ability, education and wealth, a one-year increase in a mother’s employment is associated with six weeks more employment of her child on average. -
September 5, 2019
Economic Progress Report: Inflation in Canada—Well Behaved and Well Controlled
Deputy Governor Lawrence Schembri discusses the Bank’s latest interest rate announcement and the behaviour of inflation in Canada. -
September 5, 2019
Canadian economy resilient even as global outlook worsens
Speaking a day after we decided to hold interest rates steady, Deputy Governor Lawrence Schembri discussed the key points Governing Council considered in their decision. -
A Comprehensive Evaluation of Measures of Core Inflation in Canada: An Update
We provide an updated evaluation of the value of various measures of core inflation that could be used in the conduct of monetary policy. We find that the Bank of Canada’s current preferred measures of core inflation—CPI-trim, CPI-median and CPI-common—continue to outperform alternative core measures across a range of criteria. -
September 4, 2019
Bank of Canada maintains overnight rate target at 1 ¾ percent
The Bank of Canada today maintained its target for the overnight rate at 1 ¾ percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 ½ percent. -
August 31, 2019
Research Update - August 2019
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. -
August 27, 2019
Quarterly Financial Report - Second Quarter 2019
Quarterly Financial Report - Second Quarter 2019 - For the period ended June 30, 2019