Find Bank of Canada research by keyword, author, content type, JEL code, topic or date of publication.
Receive notification by email whenever new research is added to the website.
2358
result(s)
Trade and Diffusion of Embodied Technology: An Empirical Analysis
Staff Working Paper 2023-21
Stephen Ayerst,
Faisal Ibrahim,
Gaelan MacKenzie,
Swapnika Rachapalli
Using data from patents, citations, inter-sectoral sales and customs, we examine the international diffusion of technology through imports of sectoral knowledge and production inputs. We develop an instrumental variable strategy to identify the causal effects of technology embodied in imports on innovation and diffusion outcomes.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Development economics,
International topics,
Productivity,
Trade integration
JEL Code(s):
F,
F1,
F14,
F6,
F61,
O,
O1,
O19,
O3,
O31,
O33
Demographic Origins of the Decline in Labor’s Share
Staff Working Paper 2023-20
Andrew Glover,
Jacob Short
Declining labour market dynamism of workers results in an increasing wedge between their earnings and their marginal product as they age. This wedge and the demographic shift in the earnings shares of older workers can account for 59% of the decline in labor’s share of earnings in the United States.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Labour markets,
Productivity
JEL Code(s):
D,
D3,
D33,
E,
E2,
E25,
J,
J1,
J3,
J6,
J62
What we can learn by linking firms’ reported emissions with their financial data
Staff Analytical Note 2023-4
Matthew Ackman,
Timothy Grieder,
Callie Symmers,
Geneviève Vallée
We analyze the financial statements and stock prices of publicly traded firms incorporated in Canada that report greenhouse gas emissions. We find that these firms primarily use equity financing. We also find that equity investors increasingly account for firms’ emissions when making investment decisions but the impact appears small. This suggests that assets exposed to climate change remain at risk of a sudden repricing.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Asset pricing,
Climate change,
Financial stability,
Firm dynamics
JEL Code(s):
G,
G1,
G3,
Q,
Q5
Turning Words into Numbers: Measuring News Media Coverage of Shortages
Staff Discussion Paper 2023-8
Lin Chen,
Stephanie Houle
We develop high-frequency, news-based indicators using natural language processing methods to analyze news media texts. Our indicators track both supply (raw, intermediate and final goods) and labour shortages over time. They also provide weekly time-varying topic narratives about various types of shortages.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Coronavirus disease (COVID-19),
Econometric and statistical methods,
Monetary policy and uncertainty,
Recent economic and financial developments
JEL Code(s):
C,
C5,
C55,
C8,
C82,
E,
E3,
E37
What Consistent Responses on Future Inflation by Consumers Can Reveal
Staff Discussion Paper 2023-7
Sarah Miller,
Patrick Sabourin
We analyze factors that may explain consistent answers to questions about inflation expectations in the Canadian Survey of Consumer Expectations. We also compare the inflation forecasts of consumers with consistent responses with those of professional forecasters.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Central bank research,
Inflation and prices
JEL Code(s):
D,
D8,
D80,
D84,
E,
E3,
E31
Supply Drivers of US Inflation Since the COVID-19 Pandemic
Staff Working Paper 2023-19
Serdar Kabaca,
Kerem Tuzcuoglu
This paper examines the contribution of several supply factors to US headline inflation since the start of the COVID-19 pandemic. We identify six supply shocks using a structural VAR model: labor supply, labor productivity, global supply chain, oil price, price mark-up and wage mark-up shocks.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Econometric and statistical methods,
Inflation and prices
JEL Code(s):
C,
C3,
C32,
E,
E3,
E31,
E32
Central Bank Forecasting: A Survey
Staff Working Paper 2023-18
Carola Conces Binder,
Rodrigo Sekkel
We review the literature on central bank forecasting with a special focus on the Federal Reserve, European Central Bank, Bank of England and Bank of Canada.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Monetary policy
JEL Code(s):
E,
E4,
E47,
E5,
E52,
E58
A Review of the Bank of Canada’s Market Operations Related to COVID-19
Staff Discussion Paper 2023-6
Grahame Johnson
This paper reviews the range of extraordinary programs launched by the Bank of Canada in response to the pandemic-related financial market disruption. It provides some recommendations for future interventions to ensure the programs are appropriately structured for the financial and economic stresses they are intended to address.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Coronavirus disease (COVID-19),
Financial markets,
Financial stability
JEL Code(s):
D,
D4,
D47,
E,
E4,
E41,
E5,
G,
G0,
G01,
G1,
G14,
G2,
G21,
G23,
H,
H1,
H12
Persistent Debt and Business Cycles in an Economy with Production Heterogeneity
Staff Working Paper 2023-17
Aubhik Khan,
Soyoung Lee
We examine the role of debt in amplifying and propagating recessions. Firms’ debt adjustment makes recessions deeper but makes expansions gradual. In particular, when the aggregate business leverage is ten percentage points above average, the half-life of the recovery doubles.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Firm dynamics,
Productivity
JEL Code(s):
E,
E2,
E23,
E3,
E30,
E32