February 7, 2014 Flexible Inflation Targeting and “Good” and “Bad” Disinflation Remarks Tiff Macklem John Molson School of Business Concordia University Montréal, Quebec Senior Deputy Governor Tiff Macklem discusses flexible inflation targeting and “good” and “bad” disinflation. Content Type(s): Press, Speeches and appearances, Remarks
Multi-Product Pricing: Theory and Evidence from Large Retailers in Israel Staff working paper 2020-12 Marco Bonomo, Carlos Carvalho, Oleksiy Kryvtsov, Sigal Ribon, Rodolfo Rigato Standard theories of price adjustment are based on the problem of a single-product firm, and therefore they may not be well suited to analyze price dynamics in the economy with multiproduct firms. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D2, D21, D22, E, E3, E31, E5, E52, L, L1, L11 Research Theme(s): Financial markets and funds management, Market functioning, Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures
Private Digital Cryptoassets as Investment? Bitcoin Ownership and Use in Canada, 2016-2021 Staff working paper 2022-44 Daniela Balutel, Walter Engert, Christopher Henry, Kim Huynh, Marcel Voia We report on the dynamics of Bitcoin awareness and ownership from 2016 to 2021, using the Bank of Canada's Bitcoin Omnibus Surveys (BTCOS). Our analysis also helps understand Bitcoin owners who adopted during the COVID-19 and how they differ from long-term owners. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C1, C12, E, E4, O, O5, O51 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Money and payments, Digital assets and fintech
November 19, 2019 Researching the Economic Impacts of Climate Change Miguel Molico The Bank of Canada has a mandate to “promote the economic and financial welfare of Canada,” primarily through the conduct of monetary policy and promotion of a safe, sound and efficient financial system. Understanding the macroeconomic and financial system impacts of climate change and the transition to a low-carbon economy is therefore a priority for the Bank. Content Type(s): Staff research, Other Research Theme(s): Financial system, Financial stability and systemic risk, Monetary policy, Monetary policy framework and transmission, Real economy and forecasting, Structural challenges, Climate change
May 21, 2013 Canada Works Remarks Mark Carney Chambre de commerce du Montréal métropolitain (CCMM)/Board of Trade of Metropolitan Montreal Montréal, Quebec Bank of Canada Governor Mark Carney discusses the “cornerstones of Canada’s prosperity.” Content Type(s): Press, Speeches and appearances, Remarks
April 18, 2017 Blame It on the Machines? Remarks Carolyn A. Wilkins Toronto Region Board of Trade Toronto, Ontario Senior Deputy Governor Carolyn A. Wilkins discusses how automation could affect productivity and the Bank’s monetary policy. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Fintech, Monetary policy, Economy/Economic growth, Inflation targeting framework
November 19, 2009 The Evolution of the International Monetary System Remarks Mark Carney Foreign Policy Association, New York City New York, New York In response to the worst financial crisis since the 1930s, policy-makers around the globe are providing unprecedented stimulus to support economic recovery and are pursuing a radical set of reforms to build a more resilient financial system. Content Type(s): Press, Speeches and appearances, Remarks
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
August 15, 2013 Big Data Analysis: The Next Frontier Bank of Canada Review - Summer 2013 Nii Ayi Armah The formulation of monetary policy at the Bank of Canada relies on the analysis of a broad set of economic information. Greater availability of immediate and detailed information would improve real-time economic decision making. Technological advances have provided an opportunity to exploit “big data” - the vast amount of digital data from business transactions, social media and networked computers. Big data can be a complement to traditional information sources, offering fresh insight for the monitoring of economic activity and inflation. Content Type(s): Publications, Bank of Canada Review articles JEL Code(s): C, C5, C53, C6, C63, C8, C80
An Alternative Estimate of Canadian Potential Output: The Multivariate State-Space Framework Staff discussion paper 2018-14 Lise Pichette, Maria Bernier, Marie-Noëlle Robitaille In this paper, we extend the state-space methodology proposed by Blagrave et al. (2015) and decompose Canadian potential output into trend labour productivity and trend labour input. As in Blagrave et al. (2015), we include output growth and inflation expectations from consensus forecasts to help refine our estimates. Content Type(s): Staff research, Staff discussion papers JEL Code(s): C, C5, E, E0, E5 Research Theme(s): Models and tools, Economic models, Monetary policy, Real economy and forecasting