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1934
result(s)
Identifying Nascent High-Growth Firms Using Machine Learning
Staff Working Paper 2023-53
Stephanie Houle,
Ryan Macdonald
Firms that grow rapidly have the potential to usher in new innovations, products or processes (Kogan et al. 2017), become superstar firms (Haltiwanger et al. 2013) and impact the aggregate labour share (Autor et al. 2020; De Loecker et al. 2020). We explore the use of supervised machine learning techniques to identify a population of nascent high-growth firms using Canadian administrative firm-level data.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Firm dynamics
JEL Code(s):
C,
C5,
C55,
C8,
C81,
L,
L2,
L25
Decentralized finance: Innovations and challenges
Staff Analytical Note 2023-15
Jonathan Chiu,
Hanna Yu
Decentralized finance surged in popularity around 2020. We explore its value and limitations and highlight some potential regulatory concerns.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Digital currencies and fintech,
Financial stability,
Payment clearing and settlement systems
JEL Code(s):
G,
G1,
G2
Estimating the Appropriate Quantity of Settlement Balances in a Floor System
Staff Discussion Paper 2023-26
Narayan Bulusu,
Matthew McNeely,
Kaetlynd McRae,
Jonathan Witmer
This paper presents two complementary approaches to estimating the appropriate quantity of settlement balances needed to effectively operate monetary policy under a floor system in Canada.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Financial institutions,
Financial markets,
Financial system regulation and policies,
Monetary policy implementation,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E41,
E42,
E5,
E52,
E58,
G,
G2,
G21,
G28
An Overview of the Indigenous Economy in Canada
Staff Discussion Paper 2023-25
Alex Chernoff,
Calista Cheung
Several measures suggest economic outcomes have improved for Indigenous Peoples in recent decades. Yet, institutional settings and gaps in infrastructure and financing continue to hinder their economic progress. Recent efforts have helped address some data gaps, and new institutions are helping Indigenous communities to overcome historic barriers to growth.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Central bank research,
Development economics,
Financial services,
Labour markets,
Monetary policy transmission,
Regional economic developments
JEL Code(s):
E,
E0,
E01,
E02,
N,
N4,
N41,
N42,
O,
O4,
O43,
P,
P4,
P48
Variations in Pass-Through from Global Agricultural Commodity Prices to Domestic Food Inflation
Staff Discussion Paper 2023-24
Daniel Hyun,
Jacky Lee
This paper examines factors that affect the transmission of fluctuations in global agricultural commodity prices to domestic food inflation.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Inflation and prices,
International topics
JEL Code(s):
E,
E3,
E31,
Q,
Q0,
Q02,
Q1,
Q11,
Q17,
Q18
A Blueprint for the Fourth Generation of Bank of Canada Projection and Policy Analysis Models
Staff Discussion Paper 2023-23
Donald Coletti
The fourth generation of Bank of Canada projection and policy analysis models seeks to improve our understanding of inflation dynamics, the supply side of the economy and the underlying risks faced by policy-makers coming from uncertainty about how the economy functions.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Economic models,
Inflation and prices,
Labour markets,
Monetary policy and uncertainty
JEL Code(s):
C,
C5,
C50,
C51,
C52,
C53,
C54,
C55
Three things we learned about the Lynx payment system
Staff Analytical Note 2023-14
Nikil Chande,
Zhentong Lu,
Hiru Rodrigo,
Phoebe Tian
Canada transitioned to a new wholesale payment system, Lynx, in August 2021. Lynx is based on a real-time settlement model that eliminates credit risk in the system. This model can require more liquidity; however, Lynx’s design allows Canada’s wholesale payments to settle efficiently.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Financial institutions,
Financial services,
Financial system regulation and policies,
Payment clearing and settlement systems
JEL Code(s):
C,
C1,
C10,
E,
E4,
E42,
G,
G2,
G28
Labor Market Shocks and Monetary Policy
Staff Working Paper 2023-52
Serdar Birinci,
Fatih Karahan,
Yusuf Mercan,
Kurt See
We develop a heterogeneous-agent New Keynesian model featuring a frictional labor market with on-the-job search to quantitatively study the positive and normative implications of employer-to-employer transitions for inflation.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Inflation and prices,
Labour markets,
Monetary policy
JEL Code(s):
E,
E1,
E12,
E2,
E24,
E5,
E52,
J,
J3,
J31,
J6,
J62,
J64
Intermediary Market Power and Capital Constraints
Staff Working Paper 2023-51
Jason Allen,
Milena Wittwer
We examine how intermediary capitalization affects asset prices in a framework that allows for intermediary market power. We introduce a model in which capital-constrained intermediaries buy or trade an asset in an imperfectly competitive market, and we show that weaker capital constraints lead to both higher prices and intermediary markups.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions,
Market structure and pricing
JEL Code(s):
D,
D4,
D40,
D44,
G,
G1,
G12,
G18,
G2,
G20,
L,
L1,
L10