Weather the Storms? Hurricanes, Technology and Oil Production Staff Working Paper 2022-36 Johan Brannlund, Geoffrey R. Dunbar, Reinhard Ellwanger, Matthew Krutkiewicz Do technological improvements mitigate the potential damages from extreme weather events? We show that hurricanes lower offshore oil production in the Gulf of Mexico and that stronger storms have larger impacts. Regulations enacted in 1980 that required improved offshore construction standards only modestly mitigated the production losses. Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Climate change, Potential output JEL Code(s): C, C2, C22, C23, Q, Q4, Q40, Q48, Q5, Q54
PayTech and the D(ata) N(etwork) A(ctivities) of BigTech Platforms Staff Working Paper 2022-35 Jonathan Chiu, Thorsten Koeppl Why do BigTech platforms introduce payment services? We explore this using a model in which a monopoly platform faces a trade-off between the costs associated with privacy concerns and the revenue from data services. We then analyze the feedback effects between data and payments. Content Type(s): Staff research, Staff working papers Topic(s): Digital currencies and fintech, Payment clearing and settlement systems JEL Code(s): D, D8, E, E4, E42, L, L1
August 3, 2022 CARR publishes recommended fallback language for CDOR-based loans The Canadian Alternative Reference Rate working group (CARR) today published recommended fallback language for new and existing loan agreements where the interest rate benchmark is the Canadian Dollar Offered Rate (CDOR). Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
July 31, 2022 Research Update - July 2022 This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. Content Type(s): Staff research, Research newsletters
July 29, 2022 CFEC Releases Results of April 2022 Foreign Exchange Volume Survey The Canadian Foreign Exchange Committee (CFEC) released today the results of its April 2022 semi-annual survey of foreign exchange volumes in Canada. Content Type(s): Press, Market notices Source(s): Canadian Foreign Exchange Committee
July 28, 2022 Understanding seigniorage At the Bank of Canada, we cover the cost of day-to-day business with “seigniorage,” which means earning money from issuing bank notes. Content Type(s): Explainers Topic(s): Bank notes
Income Inequality in Canada Staff Discussion Paper 2022-16 Sarah Burkinshaw, Yaz Terajima, Carolyn A. Wilkins Data show that income inequality in Canada increased substantially during the 1980s and first half of the 1990s but has been relatively stable over the past 25 years. This increase was felt mainly by low-income earners and younger people, while older people benefited from higher retirement income. Content Type(s): Staff research, Staff discussion papers Topic(s): Central bank research, Labour markets, Monetary and financial indicators JEL Code(s): D, D3, D31, D6, D63, I, I2, I24, I3, I32, J, J3, J31, J32, N, N3, N32
July 26, 2022 Bank of Canada publishes 2023 schedule for interest rate announcements Media Relations Ottawa, Ontario The Bank of Canada today published its 2023 schedule for the release of its policy interest rate decisions and quarterly Monetary Policy Report. Content Type(s): Press, Press releases
July 25, 2022 CARR Meeting (July 25, 2022) Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group