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2373
result(s)
Trends in Firm Entry and New Entrepreneurship in Canada
Staff Discussion Paper 2015-11
Shutao Cao,
Mohanad Salameh,
Mai Seki,
Pierre St-Amant
Recently released data show downward trends for both the firm entry rate and the rate of new entrepreneurship since the early 1980s in Canada. This paper documents these trends and discusses potential explanations.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Firm dynamics,
Market structure and pricing,
Productivity
JEL Code(s):
L,
L1,
L11,
M,
M1,
M13
Downside Variance Risk Premium
Staff Working Paper 2015-36
Bruno Feunou,
Mohammad R. Jahan-Parvar,
Cédric Okou
We decompose the variance risk premium into upside and downside variance risk premia. These components reflect market compensation for changes in good and bad uncertainties. Their difference is a measure of the skewness risk premium (SRP), which captures asymmetric views on favorable versus undesirable risks.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Asset pricing
JEL Code(s):
G,
G1,
G12
An Update - Canadian Non-Energy Exports: Past Performance and Future Prospects
Staff Discussion Paper 2015-10
André Binette,
Daniel de Munnik,
Julie Melanson
In light of the fact that Canada was continuing to lose market share in the United States, Binette, de Munnik and Gouin-Bonenfant (2014) studied 31 Canadian non-energy export (NEX) categories to assess their individual performance.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Balance of payments and components,
Exchange rates,
International topics
JEL Code(s):
F,
F1,
F10,
F14,
F4,
F43
Exchange Rate Pass-Through to Consumer Prices: Theory and Recent Evidence
Staff Discussion Paper 2015-9
Laurence Savoie-Chabot,
Mikael Khan
In an open economy such as Canada’s, exchange rate movements can have a material impact on consumer prices. This is particularly important in the current context, with the significant depreciation of the Canadian dollar vis-a-vis the U.S. dollar since late 2012.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Exchange rates,
Inflation and prices
JEL Code(s):
E,
E3,
E31,
E5,
E52,
F,
F3,
F31
The Optimal Level of the Inflation Target: A Selective Review of the Literature and Outstanding Issues
Staff Discussion Paper 2015-8
Oleksiy Kryvtsov,
Rhys R. Mendes
Bank of Canada research done prior to the most recent renewal of the inflation-control agreement in 2011 concluded that the benefits associated with a target below 2 per cent were insufficient to justify the increased risk of being constrained by the zero lower bound (ZLB) on nominal interest rates.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Inflation targets,
Inflation: costs and benefits,
Monetary policy framework
JEL Code(s):
E,
E5,
E52,
E58
On the Nexus of Monetary Policy and Financial Stability: Recent Developments and Research
Staff Discussion Paper 2015-7
Oleksiy Kryvtsov,
Miguel Molico,
Ben Tomlin
Because financial and macroeconomic conditions are tightly interconnected, financial stability considerations are an important element of any monetary policy framework. Yet, the circumstances under which it would be appropriate for the Bank to use monetary policy to lean against financial risks need to be more fully specified (Côté 2014).
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Financial stability,
Monetary policy framework
JEL Code(s):
E,
E0,
E4,
E44,
E5,
E52,
E58,
G,
G1,
G18
Shock Transmission Through International Banks: Canada
Technical Report No. 105
James Chapman,
H. Evren Damar
In this paper, we investigate how liquidity conditions in Canada may affect domestic and/or foreign lending of globally active banks and whether this transmission is influenced by individual bank characteristics.
Content Type(s):
Staff research,
Technical reports
Topic(s):
Financial institutions,
Financial stability
JEL Code(s):
E,
E4,
E44,
F,
F3,
F36,
G,
G2,
G21,
G3,
G32
Public Policy Objectives and the Next Generation of CPA Systems: An Analytical Framework
Staff Discussion Paper 2015-6
James Chapman,
Jonathan Chiu,
Sajjad Jafri,
Héctor Pérez Saiz
The payments landscape in Canada is rapidly changing and will continue to evolve, fuelled by strong and persistent drivers. In Canada, the Canadian Payments Association (CPA) is on a path to modernize Canada’s core payment systems.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Economic models,
Financial services,
Financial system regulation and policies,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E42,
L,
L1,
L14,
L15,
L5,
L52
The Carrot and the Stick: The Business Cycle Implications of Incentive Pay in the Labor Search Model
Staff Working Paper 2015-35
Julien Champagne
This paper considers a real business cycle model with labor search frictions where two types of incentive pay are explicitly introduced following the insights from the micro literature on performance pay (e.g. Lazear, 1986).
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Labour markets
JEL Code(s):
E,
E2,
E24,
J,
J3,
J33,
J4,
J41