The Sectoral Origins of Post-Pandemic Inflation Staff working paper 2025-37 Jan David Schneider This paper quantifies the contribution of sector-specific supply and demand shocks to personal consumption expenditure (PCE) inflation. It derives identification restrictions that are consistent with a large class of dynamic stochastic general equilibrium models with production networks. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C5, C50, E, E3, E31, E32 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Inflation dynamics and pressures
November 20, 2004 Monetary Policy and Uncertainty Bank of Canada Review - Autumn 2004 David Longworth Remarks by David Longworth, Deputy Governor of the Bank of Canada to the Canadian Association for Business Economics Content Type(s): Publications, Bank of Canada Review articles
January 25, 2012 Housing Market Cycles and Duration Dependence in the United States and Canada Financial System Review - December 2007 Rose Cunningham, Ilan Kolet Content Type(s): Publications, Financial System Review articles
September 18, 2025 Making change—Accelerating payments innovation Remarks Ron Morrow CPA The One conference Ottawa, Ontario Ron Morrow, Executive Director of Payments, Supervision and Oversight, talks about innovations in the payments ecosystem. He also highlights the Bank’s new role as supervisor of payment service providers. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Currency, Digital currency, Financial system, Financial markets, Financial stability, Fintech, Retail payments
Identifying Consumer-Welfare Changes when Online Search Platforms Change Their List of Search Results Staff working paper 2020-5 Ryan Martin Online shopping is often guided by search platforms. Consumers type keywords into query boxes, and search platforms deliver a list of products. Consumers' attention is limited, and exhaustive searches are often impractical. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C1, C14, D, D1, D11, D12, D6, D8, D83, L, L4, L40 Research Theme(s): Financial markets and funds management, Market structure, Models and tools, Econometric, statistical and computational methods
November 19, 2015 Is Slower Growth the New Normal in Advanced Economies? Bank of Canada Review - Autumn 2015 Abeer Reza, Subrata Sarker This article reviews and examines some of the main explanations for the slow growth that many advanced economies continue to experience seven years after the 2007–09 global financial crisis. Does this muted recovery reflect just a prolonged cycle in the aftermath of a financial crisis? Is it due to a structural inadequacy of demand leading to a long-lasting liquidity trap? Or is it largely supply side in nature, reflecting demographic and technological factors? Content Type(s): Publications, Bank of Canada Review articles JEL Code(s): F, F0, F01, F4, F43, O, O4, O40
November 18, 2002 Promoting Canada's Economic and Financial Welfare Remarks David Dodge Calgary Chamber of Commerce Calgary, Alberta It's been a difficult year for many sectors of the Alberta economy. Certainly, the severe drought hurt many western farmers, and investment in the energy sector was held back by low oil and gas prices. In addition, the slump in the telecom sector has affected Calgary. Content Type(s): Press, Speeches and appearances, Remarks
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
A Tale of Two Countries: Cash Demand in Canada and Sweden Staff discussion paper 2019-7 Walter Engert, Ben Fung, Björn Segendorf Cash use for payments has been steadily decreasing in many countries, including Canada and Sweden. This might suggest an evolution toward a cashless society. But in Canada, cash in circulation relative to GDP has been stable for decades and has even increased in recent years. By contrast, the cash-to-GDP ratio in Sweden has been falling steadily. What has caused this difference? Are there lessons to be learned from comparing the Canadian and Swedish experiences? Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E4, E41, E42, E5 Research Theme(s): Money and payments, Cash and bank notes, Payment and financial market infrastructures, Retail payments
Credit Card Minimum Payment Restrictions Staff working paper 2024-26 Jason Allen, Michael Boutros, Benedict Guttman-Kenney We study a government policy that restricts repayment choices with the aim of reducing credit card debt and estimate its effects by applying a difference-in-differences methodology to comprehensive credit-reporting data about Canadian consumers. We find the policy has trade-offs: reducing revolving debt comes at a cost of reducing credit access, and potentially increasing delinquency. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D1, D18, E, E2, E21, G, G2, G28, G5, G51 Research Theme(s): Financial system, Financial system regulation and oversight, Household and business credit