November 28, 2017
Regional economic developments
-
-
The Causal Impact of Migration on US Trade: Evidence from Political Refugees
Immigrants can increase international trade by shifting preferences towards the goods of their country of origin and by reducing bilateral transaction costs. Using geographical variation across U.S. states for the period 2008 to 2013, I estimate the respective causal impact of immigrants on U.S. exports and imports. -
September 27, 2017
The Meaning of “Data Dependence”: An Economic Progress Report
Governor Stephen S. Poloz discusses how unknowns in Canada’s inflation outlook have made the Bank’s monetary policy particularly data dependent. -
What’s Up with Unit Non-Response in the Bank of Canada’s Business Outlook Survey? The Effect of Staff Tenure
Since 1997, the Bank of Canada’s regional offices have been conducting the Business Outlook Survey (BOS), a quarterly survey of business conditions. Survey responses are gathered through face-to-face, confidential consultations with a sample of private sector firms representative of the various sectors, firm sizes and regions across Canada. -
Firm Heterogeneity, Technological Adoption, and Urbanization: Theory and Measurement
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. -
A Three‐Frequency Dynamic Factor Model for Nowcasting Canadian Provincial GDP Growth
This paper estimates a three‐frequency dynamic factor model for nowcasting Canadian provincial gross domestic product (GDP). Canadian provincial GDP is released by Statistics Canada on an annual basis only, with a significant lag (11 months). -
June 12, 2017
Canadian Economic Update: Strength in Diversity
Senior Deputy Governor Carolyn A. Wilkins talks about encouraging signs that growth is broadening across Canada’s regions and sectors. -
June 8, 2017
Release of the Financial System Review
Press conference following the release of the Financial System Review. -
Assessing the Business Outlook Survey Indicator Using Real-Time Data
Every quarter, the Bank of Canada conducts quarterly consultations with businesses across Canada, referred to as the Business Outlook Survey (BOS). A principal-component analysis conducted by Pichette and Rennison (2011) led to the development of the BOS indicator, which summarizes survey results and is used by the Bank as a gauge of overall business sentiment.