Firm dynamics
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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. -
Firm-Specific Shocks and Aggregate Fluctuations
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. -
November 8, 2016
Wood, Wheat, Wheels and the Web: Historical Pivots and Future Prospects for Canadian Exports
Deputy Governor Lawrence Schembri discusses the historical evolution and future prospects for Canadian exports. -
The Digital Economy—Insight from a Special Survey with IT Service Exporters
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. -
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. -
April 26, 2016
A New Balance Point: Global Trade, Productivity and Economic Growth
Governor Stephen S. Poloz talks about slowing international trade growth and the implications for productivity and the global economy. -
Understanding Firms’ Inflation Expectations Using the Bank of Canada’s Business Outlook Survey
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.