November 1, 2023
Posts
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International Portfolio Rebalancing and Fiscal Policy Spillovers
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. -
Digitalization: Prices of Goods and Services
This paper outlines and assesses the various channels through which digitalization can affect prices of goods and services. -
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. -
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Machine learning for economics research: when, what and how
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. -
Uncovering the Differences Among Displaced Workers: Evidence from Canadian Job Separation Records
We revisit the measurement of the sources and consequences of job displacement using Canadian job separation records. -
Borrow Now, Pay Even Later: A Quantitative Analysis of Student Debt Payment Plans
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. -
October 26, 2023
Bank of Canada announces appointment of Nick Leswick as Executive Director of Policy
The Bank of Canada today announced that Nick Leswick has been appointed to the new role of Executive Director of Policy, effective January 9, 2024. -
October 26, 2023
Bank of Canada announces changes to Overnight Reverse Repo operations
The Bank’s Overnight Reverse Repo (ORR) operations help reinforce the Bank’s target for the overnight rate in a floor system with large settlement balances.