Global Factors and Inflation in Canada Staff analytical note 2017-17 Dany Brouillette, Laurence Savoie-Chabot This note investigates whether the recent weakness in inflation in Canada can be related to global factors not included in the current staff analytical framework (domestic slack, movements in commodity prices and in the exchange rate). A global common factor for inflation among selected advanced economies appears to contain marginal information for Canadian inflation beyond what is found in movements in commodity prices and the exchange rate. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E3, E31 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Structural challenges, International trade, finance and competitiveness
The Impact of Bankruptcy Reform on Insolvency Choice and Consumer Credit Staff working paper 2016-26 Jason Allen, Kiana Basiri We examine the impact of the 2009 amendments to the Canadian Bankruptcy and Insolvency Act on insolvency decisions. Rule changes steered debtors out of division I proposals and into the more cost-effective division II proposals. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D1, D14, G, G2, K, K3, K35 Research Theme(s): Financial system, Financial system regulation and oversight, Household and business credit
More Money for Some: The Redistributive Effects of Open Market Operations Staff working paper 2021-46 Christian Bustamante I use a search-theoretic model of money to study how open market operations affect the conduct of monetary policy and what this means for households along the wealth distribution. In the model, households vary in the size and composition of their portfolios, which in turn implies that they may be unevenly affected by open market operations. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E21, E3, E32, E5, E52 Research Theme(s): Financial system, Household and business credit, Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation
December 18, 2006 A Summary of the Bank of Canada Conference on Fixed-Income Markets, 3–4 May 2006 Bank of Canada Review - Winter 2006-2007 Gregory Bauer, Scott Hendry The Bank of Canada's interest in fixed-income markets spans several of its functional areas of responsibility, including monetary policy, funds management, and financial system stability and efficiency. For that reason, the 2006 conference brought together top academics and central bankers from around the world to discuss leading-edge work in the field of fixed-income research. The papers and discussions cover such topics as the efficiency of fixed-income markets, price formation, the determinants of the yield curve, and volatility modelling. This article provides a short summary of each conference paper and the ensuing discussion. Content Type(s): Publications, Bank of Canada Review articles
An Improved Equation for Predicting Canadian Non-Commodity Exports Staff discussion paper 2017-1 Patrick Alexander, Jean-Philippe Cayen, Alex Proulx We estimate two new equations for Canadian non-commodity exports (NCX) that incorporate three important changes relative to the current equation used at the Bank of Canada. Content Type(s): Staff research, Staff discussion papers JEL Code(s): F, F1, F10, F14, F17 Research Theme(s): Models and tools, Economic models, Monetary policy, Real economy and forecasting, Structural challenges, International trade, finance and competitiveness
No Double Standards: Quantifying the Impact of Standard Harmonization on Trade Staff working paper 2019-36 Julia Schmidt, Walter Steingress Product standards are omnipresent in industrialized societies. Though standardization can be beneficial for domestic producers, divergent product standards have been categorized as a major obstacle to international trade. This paper quantifies the effect of standard harmonization on trade flows and characterizes the extent to which it changes the cost and demand structure of exporting. Content Type(s): Staff research, Staff working papers JEL Code(s): F, F1, F13, F14, F15, L, L1, L15 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Structural challenges, International trade, finance and competitiveness
Cyclicality of Schooling: New Evidence from Unobserved Components Models Staff working paper 2020-38 Barbara Sadaba, Sunčica Vujič, Sofia Maier What is the time-varying impact of economic cycles on decisions to invest in human capital? Content Type(s): Staff research, Staff working papers JEL Code(s): C, C3, C32, E, E3, I, I2, J, J2 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Real economy and forecasting
Markups and Inflation in Oligopolistic Markets: Evidence from Wholesale Price Data Staff working paper 2024-20 Patrick Alexander, Lu Han, Oleksiy Kryvtsov, Ben Tomlin We study how the interaction of market power and nominal price rigidity influences inflation dynamics. We find that pass-through declines with price stickiness when markets are concentrated, which implies a lower slope of the New Keynesian Phillips curve. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D4, D43, E, E3, E31, L, L1, L13, L8, L81 Research Theme(s): Financial markets and funds management, Market structure, Monetary policy, Inflation dynamics and pressures
December 3, 2009 Improving the Resilience of Core Funding Markets Financial System Review - December 2009 Jean-Sébastien Fontaine, Jack Selody, Carolyn A. Wilkins Content Type(s): Publications, Financial System Review articles
October 1, 2013 Global Growth and the Prospects for Canada’s Exports Remarks Tiff Macklem Economic Club of Canada Toronto, Ontario Senior Deputy Governor Tiff Macklem discusses global growth and the prospects for Canada’s exports. Content Type(s): Press, Speeches and appearances, Remarks