February 5, 2020
International topics
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February 5, 2020
Our Economic Destiny: Written in R-stars?
Senior Deputy Governor Carolyn A. Wilkins talks about how to navigate slow growth and discusses the types of policies that would help secure long-term prosperity. -
December 12, 2019
The Bank of Canada’s plans for 2020
In his traditional year-end speech, Governor Stephen S. Poloz described some of the long-term forces affecting the global and Canadian economies that will shape the Bank’s work in 2020. -
December 12, 2019
Big Issues Ahead: The Bank’s 2020 Vision
Governor Stephen S. Poloz discusses how long-term global economic forces will drive the Bank of Canada’s work agenda in 2020 and beyond. -
Changing Fortunes: Long-Termism—G-Zero, Artificial Intelligence and Debt
This paper discusses three long-term forces that are acting on the global economy and their implications for companies and policy-makers. -
Trade Flows and Exchange Rates: Importers, Exporters and Products
Using highly disaggregated transaction-level trade data, we document the importance of new firm-level trade partner relationships and the addition of new products to existing relationships in driving aggregate trade flows. -
No Double Standards: Quantifying the Impact of Standard Harmonization on Trade
Product standards are omnipresent in industrialized societies. Though standardization can be beneficial for domestic producers, divergent product standards have been categorized as a major obstacle to international trade. This paper quantifies the effect of standard harmonization on trade flows and characterizes the extent to which it changes the cost and demand structure of exporting. -
Exchange Rates, Retailers, and Importing: Theory and Firm-Level Evidence
We develop a model with firm heterogeneity in importing and cross-border shopping among consumers. Exchange-rate appreciations lower the cost of imported goods, but also lead to more cross-border shopping; hence, the net impact on aggregate retail prices and sales is ambiguous. -
How Oil Supply Shocks Affect the Global Economy: Evidence from Local Projections
We provide empirical evidence on the impact of oil supply shocks on global aggregates. To do this, we first extract structural oil supply shocks from a standard oil-price determination model found in the literature. -
Outlook for Electric Vehicles and Implications for the Oil Market
The market for electric vehicles (EVs) is growing rapidly. Subsidies and technological improvements are expected to increase the market share of EVs over the coming decade. In its base-case scenario, the International Energy Agency (IEA) expects EV use to rise from 4 million vehicles in 2018 to 120 million by 2030, or from 0.3 per cent to over 7 per cent of the global car fleet.