Dismiss the Gap? A Real-Time Assessment of the Usefulness of Canadian Output Gaps in Forecasting Inflation Staff working paper 2018-10 Lise Pichette, Marie-Noëlle Robitaille, Mohanad Salameh, Pierre St-Amant We use a new real-time database for Canada to study various output gap measures. This includes recently developed measures based on models incorporating many variables as inputs (and therefore requiring real-time data for many variables). Content Type(s): Staff research, Staff working papers JEL Code(s): C, C5, C53, E, E3, E37 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Economic models, Monetary policy, Inflation dynamics and pressures, Real economy and forecasting
December 23, 2004 A Survey of the Price-Setting Behaviour of Canadian Companies Bank of Canada Review - Winter 2004-2005 David Amirault, Carolyn Kwan, Gordon Wilkinson To better understand price-setting behaviour in the Canadian economy, the Bank of Canada's regional offices surveyed a representative sample of 170 firms between July 2002 and March 2003. The authors discuss the reasons behind the survey, the methodology used to develop the questionnaire and conduct the interviews, and summarize the results. The study also assessed several explanations for holding prices steady despite market pressures for a change. The survey findings indicate that prices in Canada are relatively flexible and have become more flexible over the past decade. Price stickiness was generally found to originate in firms' fears of antagonizing customers or disturbing the goodwill or reputation developed with them. A detailed discussion of the results includes a consideration of their implications for monetary policy. Content Type(s): Publications, Bank of Canada Review articles
March 22, 2018 Financial Stability: Taking Care of Unfinished Business Remarks Carolyn A. Wilkins Rotman School of Management conference Toronto, Ontario Senior Deputy Governor Carolyn A. Wilkins discusses three areas in which work remains to be done to improve financial stability. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Currency, Digital currency, Financial system, Financial stability, Monetary policy, Economic models, Inflation targeting framework
December 23, 2005 Financial System Review - December 2005 The financial system makes an important contribution to the welfare of all Canadians. The ability of households and firms to confidently hold and transfer financial assets is one of the fundamental building blocks of the Canadian economy. Content Type(s): Publications, Financial Stability Report
August 19, 2010 Conference Summary: New Frontiers in Monetary Policy Design Bank of Canada Review - Summer 2010 Robert Amano, Kevin Devereux, Rhys R. Mendes Although the current inflation-targeting regime has served Canadians well, sound public policy demands the continuous exploration of possible improvements in the monetary policy framework. Content Type(s): Publications, Bank of Canada Review articles
Overlooking the online world: Does mismeasurement of the digital economy explain the productivity slowdown? Staff analytical note 2021-10 Alejandra Bellatin, Stéphanie Houle Since the mid-2000s, labour productivity has slowed down in Canada despite enormous technological advances that were expected to improve it. This note investigates whether mismeasurement of the digital economy can explain this paradox. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E0, E01, L, L8, L86, O, O3, O33, O4, O5, O51 Research Theme(s): Models and tools, Economic models, Structural challenges, Digitalization and productivity
September 15, 2008 Offshoring and Its Effects on the Labour Market and Productivity: A Survey of Recent Literature Bank of Canada Review - Autumn 2008 James Rossiter, Yi Zheng, Calista Cheung Offshoring has become an increasingly prominent aspect of the globalization process. Evidence over the past two decades suggests that offshoring has not exerted a noticeable impact on overall employment and earnings growth in advanced economies, but it has likely contributed to shifting the demand for labour towards higher-skilled jobs. There appear to be some positive effects of offshoring on productivity, but such effects differ by country. Content Type(s): Publications, Bank of Canada Review articles
Broker Routing Decisions in Limit Order Markets Staff working paper 2016-50 David Cimon The primary focus of this paper is to study conflict of interest in the brokerage market. Brokers face a conflict of interest when the commissions they receive from investors differ from the costs imposed by different trading venues. Content Type(s): Staff research, Staff working papers JEL Code(s): G, G2, G24, G28 Research Theme(s): Financial markets and funds management, Market functioning, Market structure
February 16, 2023 No two ways about it: Why the Bank is committed to getting back to 2% Remarks Paul Beaudry Alberta School of Business Edmonton, Alberta Deputy Governor Paul Beaudry discusses the benefits of being near the Bank’s 2% inflation target and the dangers of straying from it for too long. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework