May 11, 2017
Productivity
-
-
April 18, 2017
Blame It on the Machines?
Senior Deputy Governor Carolyn A. Wilkins discusses how automation could affect productivity and the Bank’s monetary policy. -
April 2017 Annual Reassessment of Potential Output Growth in Canada
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. -
Assessing Global Potential Output Growth
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. -
Anticipated Technology Shocks: A Re‐Evaluation Using Cointegrated Technologies
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. -
March 28, 2017
Canada at 150: It Takes a World to Raise a Nation
Governor Stephen S. Poloz shows how Canada’s economic progress has been driven by its historic preference for openness to immigration, investment and trade. -
Producer Heterogeneity, Value-Added, and International Trade
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. -
November 28, 2016
From Hewers of Wood to Hewers of Code: Canada’s Expanding Service Economy
Governor Stephen S. Poloz discusses how growth in Canada’s service sector is leading to high-paying jobs and helping complete the economic recovery. -
Financial Constraint and Productivity: Evidence from Canadian SMEs
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. -
Un examen plus approfondi des pressions salariales au Canada
In this note, we provide a brief outline of the recent developments in wage measures in Canada. We then assess whether wage growth is consistent with its fundamentals.