August 25, 2015 The Long-Term Evolution of House Prices: An International Perspective Remarks Lawrence L. Schembri Canadian Association for Business Economics Kingston, Ontario Deputy Governor Lawrence Schembri discusses the international evidence of underlying determinants of long-term movements in house prices. Content Type(s): Press, Speeches and appearances, Remarks
Crisis facilities as a source of public information Staff analytical note 2025-7 Lerby Ergun During the COVID-19 financial market crisis, central banks introduced programs to support liquidity in important core funding markets. As well as acting as a backstop to market prices, these programs produce useful trading data on prevailing market conditions. When summary information from this data is shared publicly, it can help market participants understand current conditions and aid the recovery of market functioning. Content Type(s): Staff research, Staff analytical notes JEL Code(s): C, C5, C58, D, D5, D53, D8, D83, G, G1, G12, G14 Research Theme(s): Financial markets and funds management, Market functioning, Financial system, Financial institutions and intermediation
Measuring the Effectiveness of Salespeople: Evidence from a Cold-Drink Market Staff working paper 2021-40 Haofeng Jin, Zhentong Lu Salespeople are widely employed in many industries. We leverage a unique data set on retail sales from a leading Chinese cold-drink manufacturer and information on the firm’s salespeople assignment rule to measure the causal effect of salespeople on product revenue. Content Type(s): Staff research, Staff working papers JEL Code(s): L, L8, L81, M, M3, M5 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply
Estimating the Slope of the Demand Function at Auctions for Government of Canada Bonds Staff discussion paper 2023-12 Bo Young Chang We use bid data from Government of Canada bond auctions between 1999 and 2021 to gauge the yield sensitivity of these bonds to the issuance amount. Our new metric estimates the demand function of the bidders at each auction and offers insights into the relationship between supply and yield of government bonds. Content Type(s): Staff research, Staff discussion papers JEL Code(s): D, D4, D44, G, G1, G12 Research Theme(s): Financial markets and funds management, Funds management, Market functioning
August 19, 2010 Price-Level Targeting and Relative-Price Shocks Bank of Canada Review - Summer 2010 Stephen Murchison Stephen Murchison reviews the findings of recent Bank of Canada research on the relative merits of inflation targeting and price-level targeting (PLT) for a small open economy, such as Canada's, that is susceptible to large and persistent terms-of-trade shocks. Content Type(s): Publications, Bank of Canada Review articles
How Do Some Lower-Income Canadians Pay Staff analytical paper 2026-6 Jerry Buckland, Christopher Henry, Wendy Nur, Aidan Romanow-Bear, Stephen Wild Previous research suggests that lower-income Canadians may have unique experiences with the use of payments, including the use of cash and digital payments. We conduct a case study using data from [the Canadian Financial Diaries project/Canadian financial diaries] to gain insight into how some lower-income Canadians pay. Content Type(s): Staff research, Staff analytical paper JEL Code(s): D, D8, D83, E, E4, E41 Research Theme(s): Money and payments, Cash and bank notes, Retail payments
Generalized Autoregressive Gamma Processes Staff working paper 2023-40 Bruno Feunou We introduce generalized autoregressive gamma (GARG) processes, a class of autoregressive and moving-average processes in which each conditional moment dynamic is driven by a different and identifiable moving average of the variable of interest. We show that using GARG processes reduces pricing errors by substantially more than using existing autoregressive gamma processes does. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C5, C58, G, G1, G12 Research Theme(s): Financial markets and funds management, Market functioning, Models and tools, Econometric, statistical and computational methods
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 JEL Code(s): E, E2, E24, E26, J, J2, J20, J3, J30, J4 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply
Optimal Monetary Policy According to HANK Staff working paper 2021-55 Sushant Acharya, Edouard Challe, Keshav Dogra We study optimal monetary policy in an analytically tractable Heterogeneous Agent New Keynesian model. In the model, the central bank has an incentive to reduce consumption inequality in addition to keeping economic activity at its efficient level and inflation stable. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E21, E3, E30, E5, E52, E6, E62, E63 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation
March 29, 2010 Beyond Recovery: Sustaining Economic Growth Remarks Paul Jenkins Economic Club of Canada Toronto, Ontario John Maynard Keynes said the objective of "analysis is … to provide ourselves with an organized and orderly method of thinking out particular problems .… This is the nature of economic thinking." Content Type(s): Press, Speeches and appearances, Remarks