Climate Variability and International Trade Staff working paper 2023-8 Geoffrey R. Dunbar, Walter Steingress, Ben Tomlin This paper quantifies the impact of hurricanes on seaborne international trade to the United States. Matching the timing of hurricane–trade route intersections with monthly U.S. port-level trade data, we isolate the unanticipated effects of a hurricane hitting a trade route using two separate identification schemes: an event study and a local projection. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C2, C22, C5, F, F1, F14, F18, Q, Q5, Q54 Research Theme(s): Structural challenges, Climate change, International trade, finance and competitiveness
Central Bank Digital Currency: Motivations and Implications Staff discussion paper 2017-16 Walter Engert, Ben Fung The emergence of digital currencies such as Bitcoin and the underlying blockchain and distribution ledger technology have attracted significant attention. These developments have raised the possibility of considerable impacts on the financial system and perhaps the wider economy. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E4, E41, E42, E5 Research Theme(s): Monetary policy, Monetary policy tools and implementation, Money and payments, Digital assets and fintech, Payment and financial market infrastructures
International Transmission of Quantitative Easing Policies: Evidence from Canada Staff working paper 2022-30 Serdar Kabaca, Kerem Tuzcuoglu This paper examines the cross-border spillovers from major economies’ quantitative easing (QE) policies to their trading partners. We concentrate on spillovers from the US to Canada during the zero lower bound period when QE policies were actively used. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E5, E52, F, F4, F41, F44 Research Theme(s): Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation, Structural challenges, International trade, finance and competitiveness
On the Evolution of Multiple Jobholding in Canada Staff working paper 2019-49 Olena Kostyshyna, Etienne Lalé The number of workers who hold more than one job (a.k.a. multiple jobholders) has increased recently in Canada. While this seems to echo the view that non-standard work arrangements are becoming pervasive, the increase has in fact been trivial compared with the long-run rise of multiple jobholding that has occurred since the mid-1970s. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E24, J, J2, J21, J22, J6, J60 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply
February 17, 2011 Competition in the Canadian Mortgage Market Bank of Canada Review - Winter 2010-2011 Jason Allen This article begins with a brief examination of the Canadian mortgage market, focusing on the market’s evolution following changes to the Bank Act in 1992, which allowed chartered banks to enter the trust business, and the subsequent entrance of virtual banks and mortgage brokers. Content Type(s): Publications, Bank of Canada Review articles
December 8, 2011 Strengthening Bank Management of Liquidity Risk: The Basel III Liquidity Standards Financial System Review - December 2011 Natasha Khan, Tamara Gomes Content Type(s): Publications, Financial System Review articles
The Trend Unemployment Rate in Canada: Searching for the Unobservable Staff working paper 2019-13 Dany Brouillette, Marie-Noëlle Robitaille, Laurence Savoie-Chabot, Pierre St-Amant, Bassirou Gueye, Elise Nelson In this paper, we assess several methods that have been used to measure the Canadian trend unemployment rate (TUR). We also consider improvements and extensions to some existing methods. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C5, C52, C53, E, E2, E24, E27 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Economic models, Monetary policy, Inflation dynamics and pressures, Real economy and forecasting
The Price Impact of Canadian Retaliatory Tariffs Staff working paper 2026-22 Alberto Cavallo, Olena Kostyshyna, Oleksiy Kryvtsov, Matías Vieyra How do import tariffs affect retail prices? We combine daily product-level posted prices from seven major Canadian retailers with product-level tariff exposure to estimate tariff effects. Prices of tariffed goods rose gradually, peaking at 6% after three months, implying pass-through of roughly one quarter of the 25% tariff. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E3, E31, E5, E52, F, F1, F13 Research Theme(s): Monetary policy, Inflation dynamics and pressures
Nowcasting Canadian GDP with Density Combinations Staff discussion paper 2022-12 Tony Chernis, Taylor Webley We present a tool for creating density nowcasts for Canadian real GDP growth. We demonstrate that the combined densities are a reliable and accurate tool for assessing the state of the economy and risks to the outlook. Content Type(s): Staff research, Staff discussion papers JEL Code(s): C, C5, C52, C53, E, E3, E7 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Real economy and forecasting
Quantitative Easing in a Small Open Economy: An International Portfolio Balancing Approach Staff working paper 2016-55 Serdar Kabaca This paper studies the effects of quantitative easing (QE) in a small open economy dynamic stochastic general-equilibrium model with international portfolio balancing. Portfolios are classified as imperfectly substitutable short-term and long-term subportfolios, each including domestic and foreign bonds. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E5, E52, F, F4, F41 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy tools and implementation, Structural challenges, International trade, finance and competitiveness