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786
result(s)
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.
Canada’s Monetary Policy Report: If Text Could Speak, What Would It Say?
Staff Analytical Note 2019-5
André Binette,
Dmitri Tchebotarev
This note analyzes the evolution of the narrative in the Bank of Canada’s Monetary Policy Report (MPR). It presents descriptive statistics on the core text, including length, most frequently used words and readability level—the three Ls. Although each Governor of the Bank of Canada focuses on the macroeconomic events of the day and the mandate of inflation targeting, we observe that the language used in the MPR varies somewhat from one Governor’s tenure to the next.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Central bank research,
Monetary policy
JEL Code(s):
E,
E0,
E02,
E5,
E52
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
The Distributional Effects of Conventional Monetary Policy and Quantitative Easing: Evidence from an Estimated DSGE Model
Staff Working Paper 2019-6
Stefan Hohberger,
Romanos Priftis,
Lukas Vogel
This paper compares the distributional effects of conventional monetary policy and quantitative easing (QE) within an estimated open-economy DSGE model of the euro area.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Interest rates,
Monetary policy,
Monetary policy transmission
JEL Code(s):
E,
E4,
E44,
E5,
E52,
F,
F4,
F41
Credibility, Flexibility and Renewal: The Evolution of Inflation Targeting in Canada
Staff Discussion Paper 2018-18
Thomas J. Carter,
Rhys R. Mendes,
Lawrence L. Schembri
In 1991, Canada became the second country to adopt an inflation target as a central pillar of its monetary policy framework. The regime has proven much more successful than initially expected, both in achieving price stability and in stabilizing the real economy against a wide range of shocks.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Credibility,
Inflation targets,
Monetary policy,
Monetary policy framework
JEL Code(s):
E,
E5,
E52,
E58,
E6,
E61
Fundamental Drivers of Existing Home Sales in Canada
Staff Discussion Paper 2018-16
Taylor Webley
Existing home sales’ share of Canada’s economic pie has been rising in recent years, and variation around this trend has resulted in outsized contributions to changes in real gross domestic product (GDP). In this context, we use a cointegration framework to estimate the level of resale activity across the Canadian provinces that is supported by fundamentals—namely, full-time employment, housing affordability and migration flows—to help look through the volatility.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Econometric and statistical methods,
Economic models,
Housing
JEL Code(s):
C,
C2,
C22,
C23,
E,
E2,
E27,
R,
R2,
R21
GDP by Industry in Real Time: Are Revisions Well Behaved?
Staff Analytical Note 2018-40
Patrick Rizzetto
The monthly data for real gross domestic product (GDP) by industry are used extensively in real time both to ground the Bank of Canada’s monitoring of economic activity and in the Bank’s nowcasting tools, making these data one of the most important high-frequency time series for Canadian nowcasting.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Business fluctuations and cycles,
Central bank research,
Econometric and statistical methods
JEL Code(s):
C,
C5,
C53,
C8,
C82,
E,
E0,
E01
The Trade War in Numbers
Staff Working Paper 2018-57
Karyne B. Charbonneau,
Anthony Landry
We build upon new developments in the international trade literature to isolate and quantify the long-run economic impacts of tariff changes on the United States and the global economy.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Recent economic and financial developments,
Trade integration
JEL Code(s):
F,
F1,
F11,
F13,
F14,
F15,
F5,
F50,
F6,
F62,
F68