April 12, 2006 The Evolution of the Government of Canada's Debt Distribution Framework Bank of Canada Review - Spring 2006 Marc Pellerin This overview includes a brief history highlighting the government's use of the primary and secondary markets to develop a framework for distributing its debt securities to financial market intermediaries and end investors. The framework is also intended to meet the government's debt-strategy objectives of raising stable, low-cost funding and maintaining a well-functioning debt market. Pellerin reviews the government's adoption of a new framework in 1998 as well as the 2005 modifications aimed at attracting continued broad and competitive participation in government auctions. Content Type(s): Publications, Bank of Canada Review articles Research Topic(s): Debt management, Financial markets
February 1, 2012 Transparency in the Canadian Fixed-Income Market: Opportunities and Constraints Financial System Review - December 2003 Tran-Minh Vu Content Type(s): Publications, Financial System Review articles
July 4, 2022 Canadian Survey of Consumer Expectations—Second Quarter of 2022 This survey took place between April 28 and May 13, 2022. Follow-up interviews took place in June. Consumers’ expectations for inflation have risen, alongside concerns about prices for food, gas and rent. Short-term expectations are at record-high levels. Long-term inflation expectations increased significantly in the second quarter of 2022, returning to the levels they were at before the COVID-19 pandemic. Most people believe the Bank of Canada can achieve its inflation target. However, some think the process of bringing inflation down will be difficult for the Bank of Canada. Expectations for higher inflation and rising interest rates weigh on consumer confidence. People expect that credit conditions will worsen and wage growth will not keep up with inflation. Flexible work arrangements could attract more people into the labour force. Content Type(s): Publications, Canadian Survey of Consumer Expectations
Money and Price Posting under Private Information Staff Working Paper 2011-22 Mei Dong, Janet Hua Jiang We study price posting with undirected search in a search-theoretic monetary model with divisible money and divisible goods. Ex ante homogeneous buyers experience match specific preference shocks in bilateral trades. The shocks follow a continuous distribution and the realization of the shocks is private information. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Inflation and prices JEL Code(s): D, D8, D82, D83, E, E3, E31
Assessing tariff pass-through to consumer prices in Canada: Lessons from 2018 Staff Analytical Note 2025-18 Alexander Lam US trade protectionism is making the economic outlook increasingly uncertain. To assess how consumer prices may respond to tariffs, we examine a tariff episode from 2018 using detailed microdata and the synthetic control method. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Inflation and prices, International topics, Recent economic and financial developments, Trade integration JEL Code(s): E, E3, E30, E31, F, F1, F10, F13, F14
What Do Survey Data Tell Us About US Businesses? Staff Working Paper 2019-45 Anmol Bhandari, Serdar Birinci, Ellen McGrattan, Kurt See This paper examines the reliability of survey data on business incomes, valuations, and rates of return, which are key inputs for studies of wealth inequality and entrepreneurial choice. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Firm dynamics JEL Code(s): C, C8, C83, E, E2, E22, H, H2, H25
Estimating Discrete Choice Demand Models with Sparse Market-Product Shocks Staff Working Paper 2025-10 Zhentong Lu, Kenichi Shimizu We propose a novel approach to estimating consumer demand for differentiated products. We eliminate the need for instrumental variables by assuming demand shocks are sparse. Our empirical applications reveal strong evidence of sparsity in real-world datasets. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Market structure and pricing JEL Code(s): C, C1, C3, D, D1, L, L0, L00
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 Research Topic(s): Business fluctuations and cycles, Econometric and statistical methods JEL Code(s): C, C3, C32, E, E3, I, I2, J, J2
The Political Impact of Immigration: Evidence from the United States Staff Working Paper 2018-19 Anna Maria Mayda, Giovanni Peri, Walter Steingress In this paper we study the impact of immigration to the United States on the vote for the Republican Party by analyzing county-level data on election outcomes between 1990 and 2010. Our main contribution is to separate the effect of high-skilled and low-skilled immigrants, by exploiting the different geography and timing of the inflows of these two groups of immigrants. Content Type(s): Staff research, Staff working papers Research Topic(s): International topics, Labour markets JEL Code(s): F, F2, F22, J, J6, J61
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 Research Topic(s): Credit and credit aggregates, Financial institutions, Financial system regulation and policies JEL Code(s): D, D1, D14, G, G2, K, K3, K35