Women in economics: What data from top universities reveal about gender equity Sparks at Bank article Gabriela Galassi In the field of economics, on average, women tend to produce fewer research articles and be cited less often than men. But this appears to be changing. A newly compiled dataset about scholars at top universities around the world helps us identify where individual gender gaps exist. Content Type(s): Staff research, Sparks at Bank article Research Theme(s): Structural challenges, Demographics and labour supply
Crude Oil Prices and Fixed-Asset Cash Spending in the Oil and Gas Industry: Findings from VAR Models Staff analytical note 2016-8 Farrukh Suvankulov This note investigates the relationship between crude oil prices and investment in the energy sector. We employ a set of vector autoregression (VAR) models (unconstrained VAR, vector error-correction and Bayesian VAR) to formalize the relationship between the West Texas Intermediate (WTI) benchmark and fixed-asset cash spending in the oil and gas extraction and support activities sector of the Canadian economy. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E2, E22, E27, Q, Q4, Q43, Q47 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Real economy and forecasting
Optimal Estimation of Multi-Country Gaussian Dynamic Term Structure Models Using Linear Regressions Staff working paper 2017-33 Antonio Diez de los Rios This paper proposes a novel asymptotic least-squares estimator of multi-country Gaussian dynamic term structure models that is easy to compute and asymptotically efficient, even when the number of countries is relatively large—a situation in which other recently proposed approaches lose their tractability. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E4, E43, F, F3, F31, G, G1, G12, G15 Research Theme(s): Financial markets and funds management, International markets and currencies, Models and tools, Econometric, statistical and computational methods, Economic models
Intermediary Market Power and Capital Constraints Staff working paper 2023-51 Jason Allen, Milena Wittwer We examine how intermediary capitalization affects asset prices in a framework that allows for intermediary market power. We introduce a model in which capital-constrained intermediaries buy or trade an asset in an imperfectly competitive market, and we show that weaker capital constraints lead to both higher prices and intermediary markups. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D4, D40, D44, G, G1, G12, G18, G2, G20, L, L1, L10 Research Theme(s): Financial markets and funds management, Funds management, Market functioning, Market structure, Financial system, Financial institutions and intermediation
The Impact of Macroprudential Housing Finance Tools in Canada: 2005–10 Staff working paper 2016-41 Jason Allen, Timothy Grieder, Brian Peterson, Tom Roberts This paper combines loan-level administrative data with household-level survey data to analyze the impact of recent macroprudential policy changes in Canada using a microsimulation model of mortgage demand of first-time homebuyers. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C6, C63, D, D1, D14, G, G2, G28 Research Theme(s): Financial system, Financial stability and systemic risk, Household and business credit, Monetary policy, Monetary policy tools and implementation
June 17, 2007 Trend Labour Supply in Canada: Implications of Demographic Shifts and the Increasing Labour Force Attachment of Women Bank of Canada Review - Summer 2007 Russell Barnett While demographic change has been an ongoing process in Canada, labour market implications of an aging population will become more acute in coming years. This article discusses the anticipated slowing in the growth of trend labour input over the coming decades with the aging of the baby boomers, declining fertility rates, and the stabilization of the labour force attachment of women. As the pool of labour shrinks, employers and governments will be looking for ways to address barriers to continued labour force participation and firms will have a greater incentive to find ways of improving labour productivity. Content Type(s): Publications, Bank of Canada Review articles
November 16, 2017 Bank of Canada Review - Autumn 2017 Is shale oil production in the United States a factor in the 2014 oil price decline? Which methods of payment are commonly accepted by merchants in Canada? Bank researchers share their insights on these topics. They also provide an update on the neutral rate of interest as well as on changes to the Bank’s operational framework for market operations. Content Type(s): Publications, Bank of Canada Review
March 2, 2017 Thermometer Rising—Climate Change and Canada’s Economic Future Remarks Timothy Lane Finance and Sustainability Initiative Montréal, Quebec Deputy Governor Tim Lane discusses the implications of climate change—and actions to address it—for Canada’s economy and financial system. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial markets, Financial stability, Monetary policy, Economic models, Economy/Economic growth
Monetary Policy, Credit Constraints and SME Employment Staff working paper 2022-49 Julien Champagne, Émilien Gouin-Bonenfant We revisit an old question: how do financial constraints affect the transmission of monetary policy to the real economy? To answer this question, we propose a simple empirical strategy that combines firm-level employment and balance sheet data, identified monetary policy shocks and survey data on financing activities. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E3, E4, E43, E5, E52, G, G3 Research Theme(s): Financial system, Household and business credit, Monetary policy, Monetary policy framework and transmission, Real economy and forecasting
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.