Technology Adoption in Input-Output Networks Staff Working Paper 2019-51 Xintong Han, Lei Xu We study how input-output networks affect the speed of technology adoption. In particular, we model the decision to adopt the programming language Python 3 by software packages. Python 3 provides advanced features but is not backward compatible with Python 2, which implies it comes with adoption costs. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Firm dynamics, Productivity JEL Code(s): C, C6, C61, L, L2, L23, L8, L86, O, O1, O14, O3, O33
Financial Frictions, Financial Shocks and Labour Market Fluctuations in Canada Staff Discussion Paper 2011-10 Yahong Zhang What are the effects of financial market imperfections on unemployment and vacancies in Canada? The author estimates the model of Zhang (2011) – a standard monetary dynamic stochastic general-equilibrium model augmented with explicit financial and labour market frictions – with Canadian data for the period 1984Q2–2010Q4, and uses it to examine the importance of financial shocks on labour market fluctuations in Canada. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Economic models, Financial markets, Labour markets JEL Code(s): E, E3, E32, E4, E44, J, J6
The Propagation of U.S. Shocks to Canada: Understanding the Role of Real-Financial Linkages Staff Working Paper 2010-40 Kimberly Beaton, René Lalonde, Stephen Snudden This paper examines the transmission of U.S. real and financial shocks to Canada and, in particular, the role of financial frictions in affecting the transmission of these shocks. These questions are addressed within the Bank of Canada's Global Economy Model (de Resende et al. forthcoming), a dynamic stochastic general-equilibrium model with an active banking sector and a detailed role for financial frictions. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Economic models, International topics JEL Code(s): E, E2, E21, E27, E3, E32, F, F3, F36, F4, F40
A Consistent Test for Multivariate Conditional Distributions Staff Working Paper 2009-34 Fuchun Li, Greg Tkacz We propose a new test for a multivariate parametric conditional distribution of a vector of variables yt given a conditional vector xt. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods JEL Code(s): C, C1, C12, C2, C22
December 15, 2023 The path to price stability Remarks Tiff Macklem Canadian Club Toronto Toronto, Ontario Governor Tiff Macklem discusses how the economy will continue to adjust to higher interest rates in the year ahead, and outlines what Canadians can expect from the Bank of Canada. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Economic models, Expectations, Inflation and prices, Inflation: costs and benefits, Interest rates, Labour markets, Monetary policy, Monetary policy and uncertainty, Monetary policy communications, Monetary policy transmission, Price stability
November 20, 2004 Monetary Policy and Uncertainty Bank of Canada Review - Autumn 2004 David Longworth Remarks by David Longworth, Deputy Governor of the Bank of Canada to the Canadian Association for Business Economics Content Type(s): Publications, Bank of Canada Review articles
November 13, 2000 Seminar Summary: Price Stability and the Long-Run Target for Monetary Policy Bank of Canada Review - Autumn 2000 Allan Crawford On 8 and 9 June 2000, the Bank held a seminar to examine some key issues affecting the upcoming decision on Canada's inflation-control target for the period after 2001. The main issues covered at the seminar were the extent of downward nominal-wage rigidity and its implications for employment as well as the relative merits of price-level targeting versus inflation targeting. Another critical question that was discussed was how to balance the evidence on all the relevant issues in order to develop an overall view on the appropriate long-run target. The author gives a brief overview of the seminar followed by detailed summaries of individual papers. Content Type(s): Publications, Bank of Canada Review articles Research Topic(s): Inflation targets
Cross-Country Estimates of the Degree of Fiscal Dominance and Central Bank Independence Staff Working Paper 2007-36 Carlos De Resende This paper studies the interdependence between fiscal and monetary policies, and their joint role in the determination of the price level. Content Type(s): Staff research, Staff working papers Research Topic(s): Central bank research, Fiscal policy, Inflation: costs and benefits JEL Code(s): E, E3, E31, E4, E42, E5, E50, E6, E63
The uneven economic consequences of COVID 19: A structural analysis Staff Analytical Note 2021-17 Martin Kuncl, Austin McWhirter, Alexander Ueberfeldt Using a structural model, we study the economic consequences of the COVID-19 shock. The uneven consequences, such as higher unemployment among young households, amplify the negative implications for the macroeconomy, household vulnerabilities and consumption inequality. Government support programs have stimulated the economy and lowered inequality and medium-term vulnerabilities. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Coronavirus disease (COVID-19), Fiscal policy, Monetary policy JEL Code(s): E, E2, E20, E5, E52, E6, E62
November 18, 2002 Promoting Canada's Economic and Financial Welfare Remarks David Dodge Calgary Chamber of Commerce Calgary, Alberta It's been a difficult year for many sectors of the Alberta economy. Certainly, the severe drought hurt many western farmers, and investment in the energy sector was held back by low oil and gas prices. In addition, the slump in the telecom sector has affected Calgary. Content Type(s): Press, Speeches and appearances, Remarks