Productivity

• October 3, 2017

  Seeking Gazelles in Polar Bear Country

  Remarks Sylvain Leduc Sherbrooke Chamber of Commerce Sherbrooke, Quebec

  Deputy Governor Sylvain Leduc discusses the decline in firm creation and productivity in the Canadian economy.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Business fluctuations and cycles, Firm dynamics, International topics, Market structure and pricing, Potential output, Productivity
• September 18, 2017

  How Canada’s International Trade is Changing with the Times

  Remarks Timothy Lane Saskatoon Regional Economic Development Authority Saskatoon, Saskatchewan

  Deputy Governor Timothy Lane discusses the changing nature of international trade and the factors that are propelling it.

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

• Firm Heterogeneity, Technological Adoption, and Urbanization: Theory and Measurement

  Staff Working Paper 2017-27 Alex Chernoff

  This paper develops a model of firm heterogeneity, technological adoption, and urbanization. In the model, welfare is measured by household real income, and urbanization is measured by population density. I use the model to derive statistics that measure the effect of a new technology on productivity, welfare, and urbanization.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Productivity, Regional economic developments JEL Code(s): N, N6, N61, O, O1, O14, R, R1, R13
• May 11, 2017

  The Digital Economy

  Bank of Canada Review - Spring 2017 Chris D'Souza, David Williams

  Digital technologies—cloud computing, the Internet of Things, advanced robotics, big data analytics, artificial intelligence and machine learning, social media, 3D printing, augmented reality, virtual reality, e-money and distributed ledgers—are transforming the way busi-nesses operate. How does this transformation compare with past industrial revolutions? How are digital technologies changing production systems across industries? Agile firms that use knowledge intensively and have high levels of both organizational and human capital appear set to realize the greatest benefits from digitalization. Finally, what are the implications for productivity, labour markets, inflation and monetary policy as we transition to the digital economy?

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Firm dynamics, Monetary policy, Productivity JEL Code(s): D, D2, D24, L, L1, L10, O, O1, O3, O33
• April 18, 2017

  Blame It on the Machines?

  Remarks Carolyn A. Wilkins Toronto Region Board of Trade Toronto, Ontario

  Senior Deputy Governor Carolyn A. Wilkins discusses how automation could affect productivity and the Bank’s monetary policy.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): International topics, Labour markets, Market structure and pricing, Monetary policy transmission, Potential output, Productivity

• April 2017 Annual Reassessment of Potential Output Growth in Canada

  Staff Analytical Note 2017-5 Andrew Agopsowicz, Bassirou Gueye, Natalia Kyui, Youngmin Park, Mohanad Salameh, Ben Tomlin

  This note summarizes the Bank of Canada’s annual reassessment of potential output growth, conducted for the April 2017 Monetary Policy Report. Potential output growth is projected to increase from 1.3 per cent in 2017 to 1.6 per cent by 2020.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Labour markets, Potential output, Productivity JEL Code(s): E, E0, E00, E2, E22, E23, E24, E3, E37, E6

• Assessing Global Potential Output Growth

  Staff Analytical Note 2017-3 Patrick Alexander, Michael Francis, Christopher Hajzler, Patrick Kirby, Louis Poirier, Sri Thanabalasingam, Kristina Hess

  This note estimates potential output growth for the global economy through 2019. While there is considerable uncertainty surrounding our estimates, overall we expect global potential output growth to rise modestly, from 3.1 per cent in 2016 to 3.4 per cent in 2019.

  Content Type(s): Staff research, Staff analytical notes Topic(s): International topics, Potential output, Productivity JEL Code(s): E, E1, E10, E2, E20, O, O4

• Anticipated Technology Shocks: A Re‐Evaluation Using Cointegrated Technologies

  Staff Working Paper 2017-11 Joel Wagner

  Two approaches have been taken in the literature to evaluate the relative importance of news shocks as a source of business cycle volatility. The first is an empirical approach that performs a structural vector autoregression to assess the relative importance of news shocks, while the second is a structural-model-based approach.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Productivity JEL Code(s): E, E3, E32
• March 28, 2017

  Canada at 150: It Takes a World to Raise a Nation

  Remarks Stephen S. Poloz 50th Anniversary of Durham College Oshawa, Ontario

  Governor Stephen S. Poloz shows how Canada’s economic progress has been driven by its historic preference for openness to immigration, investment and trade.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Exchange rate regimes, International financial markets, Productivity, Trade integration

• Producer Heterogeneity, Value-Added, and International Trade

  Staff Working Paper 2016-54 Patrick Alexander

  Standard new trade models depict producers as heterogeneous in total factor productivity. In this paper, I adapt the Eaton and Kortum (2002) model of international trade to incorporate tradable intermediate goods and producer heterogeneity in value-added productivity.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, International topics, Productivity, Trade integration JEL Code(s): F, F1, F11, F12, F14