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. Content Type(s): Staff research, Staff working papers JEL Code(s): J, J2, J21, J3, J31, J6, J61, N, N3, N32, R, R1, R12 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply
How Do Agents Form Macroeconomic Expectations? Evidence from Inflation Uncertainty Staff working paper 2024-5 Tao Wang The uncertainty regarding inflation that is observed in density forecasts of households and professionals helps macroeconomists understand the formation mechanism of inflation expectations. Shocks to inflation take time to be perceived by all agents in the economy, and such rigidity is lower in a high-inflation environment. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D8, D84, E, E3, E31, E7, E71 Research Theme(s): Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission
November 27, 1997 Final report on wartime gold transactions released Media Relations The Bank of Canada today released a report by Professor Duncan McDowall of Carleton University entitled Due Diligence: A report on the Bank of Canada's handling of foreign gold during World War II. Content Type(s): Press, Press releases
November 17, 2011 The International Monetary System: An Assessment and Avenue for Reform Bank of Canada Review - Autumn 2011 Lawrence L. Schembri, Eric Santor The current international monetary system is in need of reform. This article first provides an assessment of the existing system, highlighting both its strengths and weaknesses. It notes that the system has not facilitated the symmetric and timely adjustment in the real exchange rate necessary to accommodate the integration of China and other emerging-market economies into the global economy. This lack of adjustment contributed to the global financial crisis and recession and, because it is forestalling the required rotation of global demand, is hindering the global recovery. The article then discusses reform of the system that would see all systemically important countries and currency areas adopt market-based and convertible floating exchange rates supported by appropriate monetary, fiscal and financial sector policy frameworks. It also examines the roles of the G-20 countries and major international financial institutions in promoting and facilitating the system’s transition. Content Type(s): Publications, Bank of Canada Review articles
April 24, 2005 Bank of Canada Review - Spring 2005 Cover page Moroccan Coin Moulds This bronze mould from Morocco is part of the National Currency Collection, Bank of Canada. Photography by Gord Carter, Ottawa. Content Type(s): Publications, Bank of Canada Review
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 JEL Code(s): E, E4, E41, E42, E5, E52, E58, G, G2, G21, G28 Research Theme(s): Monetary policy, Monetary policy tools and implementation, Money and payments, Payment and financial market infrastructures
Canadian Bitcoin Ownership in 2023: Key Takeaways Staff discussion paper 2025-4 Daniela Balutel, Marie-Hélène Felt, Doina Rusu The Bitcoin Omnibus Survey is an important tool for monitoring Canadians’ awareness and ownership of bitcoin and other cryptoassets over time. In this paper, we present data highlights from the 2023 survey. Content Type(s): Staff research, Staff discussion papers JEL Code(s): C, C8, C81, E, E4, O, O5, O51 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Money and payments, Digital assets and fintech
The “Too Big to Fail” Subsidy in Canada: Some Estimates Staff working paper 2018-9 Patricia Palhau Mora Implicit government guarantees of banking-sector liabilities reduce market discipline by private sector stakeholders and temper the risk sensitivity of funding costs. This potentially increases the likelihood of bailouts from taxpayers, especially in the absence of effective resolution frameworks. Content Type(s): Staff research, Staff working papers JEL Code(s): G, G1, G13, G2, G21, G28 Research Theme(s): Financial system, Financial stability and systemic risk, Financial system regulation and oversight
Understanding Systemic Risks in the Canadian Financial System Staff analytical paper 2026-28 Gabriel Bruneau, Sascha Clazie-Thomson, Thibaut Duprey, Ruben Hipp, Javier Ojea Ferreiro, Kerem Tuzcuoglu This paper reviews recent efforts to monitor and assess systemic risk in the Canadian financial system and outlines a framework for future system-wide stress testing. Content Type(s): Staff research, Staff analytical paper JEL Code(s): G, G0, G01, G1, G17, G18, G2, G21, G23, G28 Research Theme(s): Financial system, Financial stability and systemic risk
October 19, 2020 Canadian Survey of Consumer Expectations—Third Quarter of 2020 The Canadian Survey of Consumer Expectations (CSCE) collects respondents’ views on inflation, the labour market and household finances. The survey for the third quarter of 2020 was conducted from August 17 to September 1, 2020. Reported COVID‑19 cases have risen in some provinces since the survey was conducted. The survey included questions, introduced in the previous quarter, on the impacts of COVID‑19 and the measures to contain its spread, along with new questions on how the pandemic is affecting households’ savings. Content Type(s): Publications, Canadian Survey of Consumer Expectations