Total factor productivity growth projection for Canada: A sectoral approach Staff analytical note 2024-12 Dany Brouillette, Tessa Devakos, Raven Wheesk We propose a tool that decomposes TFP growth into sectoral contributions. The analysis incorporates three structural factors—digitalization, aging and climate change policies—and measures their contributions. Overall, we expect that aggregate TFP growth will slow down in the 2020s below both its historical average and the average from the 2010s. Content Type(s): Staff research, Staff analytical notes JEL Code(s): D, D2, D24, J, J1, J11, O, O3, O33, Q, Q5, Q54 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Climate change, Demographics and labour supply, Digitalization and productivity
October 26, 2018 Staff economic projections These forecasts are provided to Governing Council in preparation for monetary policy decisions. They are released once a year with a five-year lag.
Lending Standards, Productivity and Credit Crunches Staff working paper 2019-25 Jonathan Swarbrick We propose a macroeconomic model in which adverse selection in investment drives the amplification of macroeconomic fluctuations, in line with prominent roles played by the credit crunch and collapse of the asset-backed security market in the financial crisis. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E22, E3, E32, E4, E44, G, G0, G01 Research Theme(s): Financial system, Financial stability and systemic risk, Household and business credit, Models and tools, Economic models, Monetary policy, Real economy and forecasting
March 12, 2012 Promoting Growth, Mitigating Cycles and Inequality: The Role of Price and Financial Stability Remarks Tiff Macklem Brazil-Canada Chamber of Commerce São Paulo, Brazil Senior Deputy Governor Tiff Macklem discusses how price and financial stability help promote growth and mitigate economic cycles and inequality. Content Type(s): Press, Speeches and appearances, Remarks
What COVID-19 May Leave Behind: Technology-Related Job Postings in Canada Staff working paper 2022-17 Alejandra Bellatin, Gabriela Galassi COVID-19 affects technology adoption: online job postings for technology-related occupations fall less during pandemic lockdowns and pick up faster during reopenings than postings for more traditional occupations. Content Type(s): Staff research, Staff working papers JEL Code(s): J, J2, J23, J24, O, O1, O14 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply, Digitalization and productivity
May 5, 2015 Liquid Markets for a Solid Economy Remarks Carolyn A. Wilkins Chambre de commerce du Montréal métropolitain Montréal, Quebec Senior Deputy Governor Wilkins discusses funding and market liquidity, and announces consultations on the Bank’s market operations and emergency lending frameworks. Content Type(s): Press, Speeches and appearances, Remarks
Markov‐Switching Three‐Pass Regression Filter Staff working paper 2017-13 Pierre Guérin, Danilo Leiva-Leon, Massimiliano Marcellino We introduce a new approach for the estimation of high-dimensional factor models with regime-switching factor loadings by extending the linear three-pass regression filter to settings where parameters can vary according to Markov processes. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C2, C22, C23, C5, C53 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Economic models, Monetary policy, Real economy and forecasting
December 20, 2010 Strengthening the Infrastructure of Over-the-Counter Derivatives Markets Financial System Review - December 2010 Carolyn A. Wilkins, Elizabeth Woodman Content Type(s): Publications, Financial System Review articles
May 14, 2015 The Use of Cash in Canada Bank of Canada Review - Spring 2015 Ben Fung, Kim Huynh, Gerald Stuber The Bank of Canada’s 2013 Methods-of-Payment Survey indicates that the share of cash in the overall number of retail transactions has continued to decrease, mainly because of increased use of contactless credit cards. The share of cash in the total value of retail transactions was virtually unchanged from 2009 to 2013. In particular, the value share of cash transactions above $50 increased. Automated banking machines (ABMs), still the major source of cash for Canadians, were used less often in 2013 than in 2009. Cash use in Canada is broadly similar to that in Australia and the United States. Content Type(s): Publications, Bank of Canada Review articles JEL Code(s): C, C8, C83, E, E4, E42, G, G2, G21, L, L8, L81
Redistributive Effects of a Change in the Inflation Target Staff analytical note 2017-13 Robert Amano, Thomas J. Carter, Yaz Terajima In light of the financial crisis and its aftermath, several economists have argued that inflation-targeting central banks should reconsider the level of their inflation targets. While the appropriate level for the inflation target remains an open question, it’s important to note that any transition to a new target would entail certain costs. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E5, E52, E58 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission, Real economy and forecasting