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287
result(s)
Potential Output in Canada: 2019 Reassessment
Staff Analytical Note 2019-10
Dany Brouillette,
Julien Champagne,
Carol Khoury,
Natalia Kyui,
Jeffrey Mollins,
Youngmin Park
Potential output is expected to grow on average at 1.8 per cent over 2019–21 and at 1.9 per cent in 2022. While the contribution of trend labour input to potential output growth is expected to decrease between 2019 and 2022, the contribution of trend labour productivity is projected to increase.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Labour markets,
Potential output,
Productivity
JEL Code(s):
E,
E0,
E00,
E2,
E22,
E23,
E24,
E3,
E37,
E6
Labor Mobility in a Monetary Union
Staff Working Paper 2019-15
Daniela Hauser,
Martin Seneca
The optimal currency literature has stressed the importance of labor mobility as a precondition for the success of monetary unions. But only a few studies formally link labor mobility to macroeconomic adjustment and policy. In this paper, we study macroeconomic dynamics and optimal monetary policy in an economy with cyclical labor flows across two distinct regions that share trade links and a common monetary framework.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Economic models,
Labour markets,
Monetary policy framework,
Regional economic developments
JEL Code(s):
E,
E3,
E32,
E5,
E52,
F,
F4
The Trend Unemployment Rate in Canada: Searching for the Unobservable
Staff Working Paper 2019-13
Dany Brouillette,
Marie-Noëlle Robitaille,
Laurence Savoie-Chabot,
Pierre St-Amant,
Bassirou Gueye,
Elise Nelson
In this paper, we assess several methods that have been used to measure the Canadian trend unemployment rate (TUR). We also consider improvements and extensions to some existing methods.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Economic models,
Inflation and prices,
Labour markets
JEL Code(s):
C,
C5,
C52,
C53,
E,
E2,
E24,
E27
Local Labor Markets in Canada and the United States
Staff Working Paper 2019-12
David Albouy,
Alex Chernoff,
Chandler Lutz,
Casey Warman
We examine local labor markets in the United States and Canada from 1990 to 2011 using comparable household and business data. Wage levels and inequality rise with city population in both countries, albeit less in Canada.
The Size and Characteristics of Informal (“Gig”) Work in Canada
Staff Analytical Note 2019-6
Olena Kostyshyna,
Corinne Luu
Underlying wage growth has fallen short of what would be consistent with an economy operating with little or no slack. While many factors could explain this weakness, the availability of additional labour resources from informal (“gig”) work—not fully captured in standard measures of employment and hours worked—may play a role.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Labour markets,
Recent economic and financial developments
JEL Code(s):
E,
E2,
E24,
E26,
J,
J2,
J20,
J3,
J30,
J4
The State of Labour Market Churn in Canada
Staff Analytical Note 2019-4
Olena Kostyshyna,
Corinne Luu
The literature highlights that labour market churn, including job-to-job transitions, is a key element of wage growth. Using microdata from the Labour Force Survey, we compute measures of labour market churn and compare these with pre-crisis averages to assess implications for wage growth.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Labour markets,
Recent economic and financial developments
JEL Code(s):
E,
E2,
E24,
J,
J2,
J20,
J3,
J30,
J6,
J63
Drivers of Weak Wage Growth in Advanced Economies
Staff Analytical Note 2019-3
Anne-Katherine Cormier,
Michael Francis,
Kristina Hess,
Guillaume Poulin-Bellisle
Since the global financial crisis, advanced-economy wage growth has been generally low relative to past recoveries, especially after accounting for the evolution of labour market conditions over this period. This paper investigates a variety of potential explanations for this weakness, drawing on findings from the literature as well as analysis of recent labour market data in advanced economies.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
International topics,
Labour markets
JEL Code(s):
E,
E3,
E31,
F,
F0,
J,
J3
Can Capital Deepening Explain the Global Decline in Labor’s Share?
Staff Working Paper 2019-3
Andrew Glover,
Jacob Short
We estimate an aggregate elasticity of substitution between capital and labor near or below one, which implies that capital deepening cannot explain the global decline in labor's share. Our methodology derives from transition paths in the neo-classical growth model.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Firm dynamics,
International topics,
Labour markets
JEL Code(s):
E,
E1,
E13,
E2,
E22,
E25,
J,
J3
Inference in Games Without Nash Equilibrium: An Application to Restaurants’ Competition in Opening Hours
Staff Working Paper 2018-60
Erhao Xie
This paper relaxes the Bayesian Nash equilibrium (BNE) assumption commonly imposed in empirical discrete choice games with incomplete information. Instead of assuming that players have unbiased/correct expectations, my model treats a player’s belief about the behavior of other players as an unrestricted unknown function. I study the joint identification of belief and payoff functions.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Market structure and pricing
JEL Code(s):
C,
C5,
C57,
L,
L1,
L13,
L8,
L85