Search Frictions, Financial Frictions and Labour Market Fluctuations in Emerging Markets Staff Working Paper 2014-35 Sumru Altug, Serdar Kabaca This paper examines the role of the extensive and intensive margins of labour input in the context of a business cycle model with a financial friction. We document significant variation in the hours worked per worker for many emerging-market economies. Both employment and hours worked per worker are positively correlated with each other and with output. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Development economics, Interest rates, International topics, Labour markets JEL Code(s): E, E4, E44, F, F4, F41, J, J4, J40
January 31, 2023 2022 Annual Retrospective Newsletter Starting this year, we will be using the January issue of our newsletter to look back at our research activities over the past year and to celebrate the achievements of our colleagues. Content Type(s): Staff research, Research newsletters
October 26, 2010 Reform of Over-the-Counter (OTC) Derivatives Markets in Canada: Discussion Paper from the Canadian OTC Derivatives Working Group Today, the Canadian OTC Derivatives Working Group published a paper that sets out preliminary recommendations for implementing Canada's G-20 commitments related to OTC derivatives. Content Type(s): Press, Market notices
A Blueprint for the Fourth Generation of Bank of Canada Projection and Policy Analysis Models Staff Discussion Paper 2023-23 Donald Coletti The fourth generation of Bank of Canada projection and policy analysis models seeks to improve our understanding of inflation dynamics, the supply side of the economy and the underlying risks faced by policy-makers coming from uncertainty about how the economy functions. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Economic models, Inflation and prices, Labour markets, Monetary policy and uncertainty JEL Code(s): C, C5, C50, C51, C52, C53, C54, C55
Asset-Price Misalignments and Monetary Policy: How Flexible Should Inflation-Targeting Regimes Be? Staff Discussion Paper 2007-6 Jack Selody, Carolyn A. Wilkins The authors analyze the extent to which inflation-targeting frameworks should incorporate flexibility in order to respond to asset-price misalignments and other atypical events. They examine the costs and benefits of adding flexibility to the Bank's current inflation-targeting framework, and conclude that maintaining low and stable consumer price inflation is the best contribution that monetary policy […] Content Type(s): Staff research, Staff discussion papers Research Topic(s): Inflation targets, Monetary policy framework JEL Code(s): E, E5, E6
The Financialization of Food? Staff Working Paper 2013-39 Valentina G. Bruno, Bahattin Buyuksahin, Michel A. Robe Commodity-equity and cross-commodity return co-movements rose dramatically after the 2008 financial crisis. This development took place following what has been dubbed the “financialization” of commodity markets. Content Type(s): Staff research, Staff working papers Research Topic(s): International topics, Recent economic and financial developments JEL Code(s): G, G1, G12, G13, Q, Q1, Q11, Q13
November 13, 2014 Money in a Digital World Remarks Carolyn A. Wilkins Wilfrid Laurier University Waterloo, Ontario Senior Deputy Governor Carolyn Wilkins discusses the benefits and risks of e-money - including cryptocurrencies - and the Bank of Canada’s role. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Digital currencies and fintech
November 18, 2010 Where the Economy and Finance Meet Remarks Jean Boivin Okanagan CFA Society and UBC Okanagan (Faculty of Management) Kelowna, British Columbia As the title of my speech suggests, I would like to discuss the connections between the real economy – the tangible world of jobs, goods and services – and the more intangible world of finance – of money flows, interest rates and the stock market. They have a long and eventful history. Content Type(s): Press, Speeches and appearances, Remarks
Digitalization: Labour Markets Staff Discussion Paper 2023-16 Alex Chernoff, Gabriela Galassi In this paper, the authors assess the relationship between digitalization and labour demand and supply, and how this relationship affects wages and income inequality. We also explore implications of recent digitalization trends for the future of work. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Digitalization, Labour markets JEL Code(s): I, I2, I23, J, J2, J23, J24, O, O3, O33
Macroeconomic Determinants of the Term Structure of Corporate Spreads Staff Working Paper 2008-29 Jun Yang We investigate the macroeconomic determinants of corporate spreads using a no-arbitrage technique. Structural shocks are identified by a New-Keynesian model. Treasury bonds are priced in an affine model with time-varying risk premia. Content Type(s): Staff research, Staff working papers Research Topic(s): Debt management, Financial markets, Interest rates JEL Code(s): E, E4, E43, E44, G, G1, G12