December 23, 2024 Release of the Bank of Canada’s summary of deliberations On Monday, December 23, 2024, the Bank of Canada will publish a summary of the deliberations that took place ahead of its interest rate decision on December 11, 2024. Content Type(s): Press, Media advisories
Consumer Search, Productivity Heterogeneity, Prices, Markups, and Pass-through: Theory and Estimation Staff Working Paper 2024-50 Alex Chernoff, Allen Head, Beverly Lapham We develop and estimate a search model in which identical consumers trade with price-setting firms that differ in productivity. We use the estimated model to characterize the qualitative and quantitative differences in prices and markups across firms. We explore how individual firms respond to changes in cost and demand and how they pass these through to their prices and markup. Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices, Service sector JEL Code(s): E, E3, E31, L, L1, L16
The Distributional Origins of the Canada-US GDP and Labour Productivity Gaps Staff Working Paper 2024-49 James (Jim) C. MacGee, Joel Rodrigue We find the top 10% of the income distribution accounts for three-quarters of the gap in GDP per adult between Canada and the United States. The large gaps in income for high-income earners help distinguish between alternative explanations of this persistent gap in GDP per adult. Content Type(s): Staff research, Staff working papers Topic(s): Productivity JEL Code(s): D, D3, D31, E, E2, E24, J, J2, J24, J6, J61, N, N1, N12, O, O4, O47, O5, O51
Familiarity with Crypto and Financial Concepts: Cryptoasset Owners, Non-Owners, and Gender Differences Staff Working Paper 2024-48 Daniela Balutel, Walter Engert, Christopher Henry, Kim Huynh, Doina Rusu, Marcel Voia Measuring cryptoasset knowledge alongside financial knowledge enhances our understanding of individuals' decisions to purchase cryptoassets. This paper uses microdata from the Bank of Canada’s Bitcoin Omnibus Survey to examine gender differences and the interrelationship between crypto and financial knowledge through an empirical joint analysis. Content Type(s): Staff research, Staff working papers Topic(s): Central bank research, Digital currencies and fintech, Econometric and statistical methods JEL Code(s): C, C8, C81, D, D1, D14, D9, D91, G, G5, G53, O, O5, O51
December 16, 2024 Summary of Comments – Fall 2024 Debt Management Strategy Consultations Today, the Fall 2024 Debt Management Strategy Consultations Summary is being published, following the release of the Government of Canada’s 2024 Fall Economic Statement. Content Type(s): Press, Market notices
December 16, 2024 Summary of Comments – Fall 2024 Debt Distribution Framework Review Consultations Today, the Fall 2024 Debt Distribution Framework Review Consultations Summary is being published, following the release of the Government of Canada’s 2024 Fall Economic Statement. Content Type(s): Press, Market notices
December 16, 2024 Speech: Tiff Macklem, Governor 12:35 (PT) / 15:35 (ET) Vancouver, British Columbia Content Type(s): Upcoming events