June 11, 2009 The Changing Pace of Labour Reallocation in Canada: Causes and Consequences Bank of Canada Review - Summer 2009 Danny Leung, Shutao Cao The number of job gains and losses across firms in Canada each year is roughly one-fifth the total number of jobs and generally occurs within sectors (industries) rather than across sectors. Since labour reallocation within sectors has been strongly related to productivity growth in Canada, defining the key drivers of this type of reallocation is important, given the higher rates of reallocation and productivity growth in the Untied States than in Canada. This article finds that the appreciation of the Canadian dollar and rising commodity prices led to above-average reallocation of labour across sectors over the 2005-08 period, but that the impact on productivity has been minor. Labour reallocation across firms, however, generates substantial labour productivity gains in manufacturing and the business sector as a whole. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Labour markets, Productivity
June 11, 2009 Bank of Canada Review - Summer 2009 Examining the incentives for banks to hold various assets on their balance sheets for use as collateral when the opportunity cost of doing so can be high; an outline of the complexity inherent in any modern risk-management system and review of possible strategies to improve the performance of risk management; causes and consequences of the changing pace of labour reallocation in Canada; description of the structure and functioning of BoC-GEM— an adaptation of the Global Economy Model— with examples of its recent application. Content Type(s): Publications, Bank of Canada Review
June 11, 2009 Path to Renewed Globalization Critical for New World Economic Order, Governor Carney says Media Relations Montréal, Quebec Countries around the world must work toward a new global economy that is open, resilient, and responsible, Bank of Canada Governor Mark Carney said today, as he laid out an agenda for the renewal of globalization. Content Type(s): Press, Press releases
June 11, 2009 BoC-GEM: Modelling the World Economy Bank of Canada Review - Summer 2009 René Lalonde, Dirk Muir BoC-GEM, an adaptation of the Global Economy Model, initially developed at the International Monetary Fund and the New York Federal Reserve, is a very useful tool to tackle a broad range of issues pertinent to the current economic context, such as the recent movements in commodity prices and the adjustment of global imbalances. This article describes the structure and functioning of BoC-GEM and details some examples of recent application in the areas of monetary policy and issues in the real economy and questions of financial stability and describes ongoing research into introducing a financial sector into the model. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Economic models, International topics
June 10, 2009 Results for the 10 June 2009 Term Loan Facility Results of today's TLF operation. Content Type(s): Press, Market notices
June 9, 2009 Results of the 9 June 2009 Term PRA Transaction for Private Sector Instruments Results of today's term PRA operations. Content Type(s): Press, Market notices
June 8, 2009 Results of the 8 June 2009 Term PRA Transaction Results of today's term PRA operations. Content Type(s): Press, Market notices
June 5, 2009 Bank of Canada Announces Details of its Term Loan Facility Operation In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 24 April (see schedule), the Bank of Canada announced today that it will conduct a TLF operation. Content Type(s): Press, Market notices
June 5, 2009 Bank of Canada Announces Details of its Term PRA for Private Sector Instruments Operation In accordance with the schedule of term purchase and resale agreement (PRA) auctions for private sector instruments announced on 24 April (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation for private sector instruments. Content Type(s): Press, Market notices
June 5, 2009 Bank of Canada Announces Details of its Term PRA Operation In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 21 April (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation. Content Type(s): Press, Market notices