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.
156
result(s)
Monetary Policy, Credit Constraints and SME Employment
Staff Working Paper 2022-49
Julien Champagne,
Émilien Gouin-Bonenfant
We revisit an old question: how do financial constraints affect the transmission of monetary policy to the real economy? To answer this question, we propose a simple empirical strategy that combines firm-level employment and balance sheet data, identified monetary policy shocks and survey data on financing activities.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Credit and credit aggregates,
Econometric and statistical methods,
Firm dynamics,
Labour markets,
Monetary policy
JEL Code(s):
E,
E2,
E3,
E4,
E43,
E5,
E52,
G,
G3
Are Working Hours Complements in Production?
Staff Working Paper 2022-47
Lin Shao,
Faisal Sohail,
Emircan Yurdagul
Using Canadian matched employer-employee data, we show that working hours of different workers are gross complements in production rather than perfect substitutes, as is typically assumed by macroeconomic models of production.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Labour markets
JEL Code(s):
E,
E2,
E23,
J,
J2,
J22,
J23,
J3,
J31
Canada’s Beveridge curve and the outlook for the labour market
Staff Analytical Note 2022-18
Alexander Lam
Canada’s labour market is tight but beginning to ease. Unemployment will likely rise in turn, but the economy can avoid a recessionary surge given current conditions. Higher unemployment would nonetheless be material, especially for those directly impacted.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Business fluctuations and cycles,
Central bank research,
Labour markets,
Recent economic and financial developments
JEL Code(s):
E,
E3,
E32,
J,
J2,
J20,
J6,
J63,
J64
Has wage setting changed in Canada? Evidence from the pre-pandemic 2020 Wage-Setting Survey
Staff Analytical Note 2022-10
David Amirault,
Sarah Miller,
Matthieu Verstraete
Just before the pandemic began, the Bank of Canada conducted the 2020 Wage-Setting Survey. The goal was to explore the unusual trend of subdued wage growth in 2018 and 2019 despite a tightening in the labour market. Although this wage puzzle was beginning to resolve at the time of the survey, results highlight changes in several factors that may have important impacts on wage dynamics.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Central bank research,
Labour markets
JEL Code(s):
J,
J3,
J31,
J32,
J33,
J6,
J63
Income Inequality in Canada
Staff Discussion Paper 2022-16
Sarah Burkinshaw,
Yaz Terajima,
Carolyn A. Wilkins
Data show that income inequality in Canada increased substantially during the 1980s and first half of the 1990s but has been relatively stable over the past 25 years. This increase was felt mainly by low-income earners and younger people, while older people benefited from higher retirement income.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Central bank research,
Labour markets,
Monetary and financial indicators
JEL Code(s):
D,
D3,
D31,
D6,
D63,
I,
I2,
I24,
I3,
I32,
J,
J3,
J31,
J32,
N,
N3,
N32
Potential output and the neutral rate in Canada: 2022 reassessment
Staff Analytical Note 2022-3
Guyllaume Faucher,
Christopher Hajzler,
Martin Kuncl,
Dmitry Matveev,
Youngmin Park,
Temel Taskin
We expect potential output growth to be lower in 2021 than anticipated in the April 2021 assessment. By 2025, growth is expected to reach 2.3%. We assess that the Canadian nominal neutral rate increased slightly to lie in the range of 2.00% to 3.00%.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Economic models,
Interest rates,
Labour markets,
Monetary policy,
Potential output,
Productivity
JEL Code(s):
E,
E2,
E3,
E4,
E5
Benchmarks for assessing labour market health
Staff Analytical Note 2022-2
Erik Ens,
Corinne Luu,
Kurt See,
Shu Lin Wee
We propose a range of benchmarks for assessing labour market strength for monetary policy. This work builds on a previous framework that considers how diverse and segmented the labour market is. We apply these benchmarks to the Canadian labour market and find that it has more than recovered from the COVID-19 shock.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Business fluctuations and cycles,
Coronavirus disease (COVID-19),
Econometric and statistical methods,
Labour markets,
Monetary policy
JEL Code(s):
E,
E2,
E24,
J,
J2,
J21,
J6
What COVID-19 May Leave Behind: Technology-Related Job Postings in Canada
Staff Working Paper 2022-17
Alejandra Bellatin,
Gabriela Galassi
COVID-19 affects technology adoption: online job postings for technology-related occupations fall less during pandemic lockdowns and pick up faster during reopenings than postings for more traditional occupations.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Coronavirus disease (COVID-19),
Econometric and statistical methods,
Labour markets
JEL Code(s):
J,
J2,
J23,
J24,
O,
O1,
O14
Contribution of Human Capital Accumulation to Canadian Economic Growth
Staff Discussion Paper 2022-7
Audra Bowlus,
Youngmin Park,
Chris Robinson
This paper quantifies the contribution of human capital accumulation to the growth of real gross domestic product (GDP) in Canada.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Econometric and statistical methods,
Labour markets,
Potential output,
Productivity
JEL Code(s):
D,
D2,
D24,
E,
E2,
E24,
J,
J2,
J24,
J3,
J31,
O,
O4,
O47