Firm dynamics

• November 28, 2016

  From Hewers of Wood to Hewers of Code: Canada’s Expanding Service Economy

  Remarks Stephen S. Poloz C.D. Howe Institute Toronto, Ontario

  Governor Stephen S. Poloz discusses how growth in Canada’s service sector is leading to high-paying jobs and helping complete the economic recovery.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Central bank research, Economic models, Firm dynamics, Productivity, Recent economic and financial developments, Service sector

• Firm-Specific Shocks and Aggregate Fluctuations

  Staff Working Paper 2016-51 Leonid Karasik, Danny Leung, Ben Tomlin

  In order to understand what drives aggregate fluctuations, many macroeconomic models point to aggregate shocks and discount the contribution of firm-specific shocks. Recent research from other developed countries, however, has found that aggregate fluctuations are in part driven by idiosyncratic shocks to large firms.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Firm dynamics, Market structure and pricing JEL Code(s): E, E2, E22, E23, E24, E3, L, L6
• November 8, 2016

  Wood, Wheat, Wheels and the Web: Historical Pivots and Future Prospects for Canadian Exports

  Remarks Lawrence L. Schembri Atlantic Institute for Market Studies Halifax, Nova Scotia

  Deputy Governor Lawrence Schembri discusses the historical evolution and future prospects for Canadian exports.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Business fluctuations and cycles, Development economics, Exchange rates, Firm dynamics, International topics, Trade integration

• The Digital Economy—Insight from a Special Survey with IT Service Exporters

  Staff Discussion Paper 2016-21 Wei Dong, James Fudurich, Lena Suchanek

  Information technology (IT) is an increasingly integral part of everyday business and personal life reflecting the ongoing and accelerating digital transformation of the economy. In this paper, we present information gathered from a survey with export-oriented firms in the Canadian IT service industry and consultations with industry associations aimed at shedding light on this small but highly dynamic sector.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Firm dynamics, Service sector JEL Code(s): D, D2, D22, L, L8, L86, O, O3, O33

• Financial Constraint and Productivity: Evidence from Canadian SMEs

  Staff Working Paper 2016-44 Shutao Cao, Danny Leung

  The degree to which financial constraint is binding is often not directly observable in commonly used business data sets (e.g., Compustat). In this paper, we measure and estimate the likelihood of a firm being constrained by external financing using a data set of small- and medium-sized Canadian firms.

  Content Type(s): Staff research, Staff working papers Topic(s): Firm dynamics, Productivity JEL Code(s): D, D2, D24, G, G3, G32, L, L2, L25
• April 26, 2016

  A New Balance Point: Global Trade, Productivity and Economic Growth

  Remarks Stephen S. Poloz Investment Industry Association of Canada and Securities Industry and Financial Markets Association New York, New York

  Governor Stephen S. Poloz talks about slowing international trade growth and the implications for productivity and the global economy.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Business fluctuations and cycles, Firm dynamics, International topics, Productivity, Recent economic and financial developments, Trade integration

• Understanding Firms’ Inflation Expectations Using the Bank of Canada’s Business Outlook Survey

  Staff Working Paper 2016-7 Simon Richards, Matthieu Verstraete

  Inflation expectations are a key determinant of actual and future inflation and thus matter for the conduct of monetary policy. We study how firms form their inflation expectations using quarterly firm-level data from the Bank of Canada’s Business Outlook Survey, spanning the 2001 to 2015 period.

  Content Type(s): Staff research, Staff working papers Topic(s): Central bank research, Credibility, Econometric and statistical methods, Firm dynamics, Inflation and prices, Inflation targets, Monetary policy framework JEL Code(s): C, C1, C2, C25, D, D2, D21, D8, D84, E, E3, E31, E5, E52, E58

• Trends in Firm Entry and New Entrepreneurship in Canada

  Staff Discussion Paper 2015-11 Shutao Cao, Mohanad Salameh, Mai Seki, Pierre St-Amant

  Recently released data show downward trends for both the firm entry rate and the rate of new entrepreneurship since the early 1980s in Canada. This paper documents these trends and discusses potential explanations.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Firm dynamics, Market structure and pricing, Productivity JEL Code(s): L, L1, L11, M, M1, M13
• May 19, 2015

  The Way Home: Reading the Economic Signs

  Remarks Stephen S. Poloz Greater Charlottetown Area Chamber of Commerce Charlottetown, Prince Edward Island

  Governor Poloz discusses some key indicators the Bank is watching as the Canadian economy heads toward sustainable balanced growth.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Business fluctuations and cycles, Firm dynamics, Inflation and prices, Monetary policy, Monetary policy and uncertainty, Recent economic and financial developments