January 6, 2006 Bank of Canada Review - Winter 2005-2006 Cover page Silver Presentation Salver The salver, which was bequeathed to the Bank of Canada by Lady Macmillan in 1967, is part of the artifact collection of the Bank of Canada Archives. Photography by Mone Cheng, Innovacom, Ottawa. Content Type(s): Publications, Bank of Canada Review
The State of Labour Market Churn in Canada Staff Analytical Note 2019-4 Olena Kostyshyna, Corinne Luu The literature highlights that labour market churn, including job-to-job transitions, is a key element of wage growth. Using microdata from the Labour Force Survey, we compute measures of labour market churn and compare these with pre-crisis averages to assess implications for wage growth. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Labour markets, Recent economic and financial developments JEL Code(s): E, E2, E24, J, J2, J20, J3, J30, J6, J63
Y a-t-il eu surinvestissement au Canada durant la seconde moitié des années 1990? Staff Working Paper 2005-5 Sylvain Martel This study on overinvestment differs from the existing literature in that investment in machinery and equipment is modelled as a structural vector autoregression with identification achieved by imposing long-run restrictions, as in Blanchard and Quah (1989). Content Type(s): Staff research, Staff working papers Research Topic(s): Domestic demand and components JEL Code(s): C, C3, C32, E, E3, E37, F, F4, F47
March 21, 2017 Getting Down to Business: Investment and the Economic Outlook Remarks Lawrence L. Schembri Greater Vancouver Board of Trade Vancouver, British Columbia Deputy Governor Lawrence Schembri discusses the factors affecting business investment and the implications for the economic outlook. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Business fluctuations and cycles, Domestic demand and components, Inflation and prices, Monetary policy, Monetary policy and uncertainty, Recent economic and financial developments
Low Inflation in Advanced Economies: Facts and Drivers Staff Analytical Note 2017-16 Sanjana Bhatnagar, Anne-Katherine Cormier, Patrisha de Leon-Manlagnit, Elise Martin, Vikram Rai, Renaud St-Cyr, Subrata Sarker, Kristina Hess Since the global financial crisis, core inflation has been persistently below target in most advanced economies. Recently, it has weakened further in several advanced economies despite gradually diminishing slack. This note reviews recent developments in core inflation across advanced economies and identifies distinctive patterns across regions. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Inflation and prices, International topics JEL Code(s): E, E0, E3, E31, F, F0
Job Applications and Labour Market Flows Staff Working Paper 2021-49 Serdar Birinci, Kurt See, Shu Lin Wee Although the number of job applications has risen, job-finding rates remain relatively unchanged while job-separation rates have significantly declined. Rather than raising the probability of finding a job, we find that a rise in applications raises the probability of finding a good match, as evidenced by the decline in separation rates. Content Type(s): Staff research, Staff working papers Research Topic(s): Labour markets, Productivity JEL Code(s): E, E2, E24, J, J6, J63, J64
Endogenous Liquidity and Capital Reallocation Staff Working Paper 2022-27 Wei Cui, Randall Wright, Yu Zhu We study economies where firms acquire capital in primary markets then retrade it in secondary markets after information on idiosyncratic productivity arrives. Our secondary markets incorporate bilateral trade with search, bargaining and liquidity frictions. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Monetary policy JEL Code(s): E, E2, E22, E4, E44
Financial Spillovers Across Countries: The Case of Canada and the United States Staff Discussion Paper 2011-1 Kimberly Beaton, Brigitte Desroches The authors investigate financial spillovers across countries with an emphasis on the effect of shocks to financial conditions in the United States on financial conditions and economic activity in Canada. These questions are addressed within a global vector autoregression model. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Business fluctuations and cycles, Economic models, Financial stability, International topics JEL Code(s): E, E2, E27, E3, E32, F, F3, F36, F4, F40
From Monetary Policy Instruments to Administered Interest Rates: The Transmission Mechanism in Canada Technical Report No. 69 Kevin Clinton, Donna Howard The authors investigate interest-rate aspects of the transmission mechanism of monetary policy instruments in Canada, focussing on the stability of the relationships between some key interest rates and the instruments of monetary policy. To determine what shifts may have occurred in recent years, they describe movements in rate differentials, apply cointegration tests and estimate error-correction […] Content Type(s): Staff research, Technical reports Research Topic(s): Monetary policy transmission JEL Code(s): E, E5, E52
Removal of the Unwinding Provisions in the Automated Clearing Settlement System: A Risk Assessment Staff Discussion Paper 2014-4 Nicholas Labelle, Varya Taylor A default in the Automated Clearing Settlement System (ACSS) occurs when a Direct Clearer is unable to settle its final obligation. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial stability, Payment clearing and settlement systems JEL Code(s): C, C1, C15, G, G0, G01, G2, G3