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2338
result(s)
June 17, 2007
Trend Labour Supply in Canada: Implications of Demographic Shifts and the Increasing Labour Force Attachment of Women
While demographic change has been an ongoing process in Canada, labour market implications of an aging population will become more acute in coming years. This article discusses the anticipated slowing in the growth of trend labour input over the coming decades with the aging of the baby boomers, declining fertility rates, and the stabilization of the labour force attachment of women. As the pool of labour shrinks, employers and governments will be looking for ways to address barriers to continued labour force participation and firms will have a greater incentive to find ways of improving labour productivity.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Economic models,
Labour markets,
Potential output
June 15, 2007
Interpreting Canada's Productivity Performance in the Past Decade: Lessons from Recent Research
Dion examines the evolution of Canadian productivity since the mid-1990s, using the United States as a benchmark. During this period, trend productivity growth in Canada remained modest, whereas the U.S. witnessed a strong resurgence. Among the factors identified as potential root causes of Canada's lower productivity performance are a lower investment in information and communications technology, reallocation and adjustment costs associated with large relative price movements, and a weak demand for innovation.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Productivity,
Recent economic and financial developments
June 14, 2007
Efficiency and Competition in Canadian Banking
Allen and Engert report on recent research at the Bank of Canada on various aspects of efficiency in the Canadian banking industry. This research suggests that, overall, Canadian banks appear to be relatively efficient producers of financial services and they do not exercise monopoly or collusive-oligopoly power. The authors note the value of continuing to investigate opportunities to improve efficiency and competition in financial services in Canada.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Central bank research,
Financial institutions,
Financial system regulation and policies
Unanticipated Defaults and Losses in Canada's Large-Value Payments System, Revisited
Staff Discussion Paper 2007-5
Devin Ball,
Walter Engert
Recent work at the Bank of Canada studied the impact of default in Canada’s large-value payments system, and concluded that participants could readily manage their potential losses (McVanel 2005). In an extension of that work, the authors use a much larger set of daily payments data – with three times as many observations – to […]
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Financial institutions,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E44,
E47,
G,
G2,
G21
A vision for IMF Surveillance
Staff Working Paper 2007-37
Robert Lavigne,
Philipp Maier,
Eric Santor
The ongoing review of the IMF, initiated in 2005 by Managing Director De Rato, presents an excellent opportunity to re-examine the role, functions and governance of the Fund.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial stability,
International topics
JEL Code(s):
F,
F3,
F33
Cross-Country Estimates of the Degree of Fiscal Dominance and Central Bank Independence
Staff Working Paper 2007-36
Carlos De Resende
This paper studies the interdependence between fiscal and monetary policies, and their joint role in the determination of the price level.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Central bank research,
Fiscal policy,
Inflation: costs and benefits
JEL Code(s):
E,
E3,
E31,
E4,
E42,
E5,
E50,
E6,
E63
Gold Prices and Inflation
Staff Working Paper 2007-35
Greg Tkacz
Using data for 14 countries over the 1994 to 2005 period, we assess the leading indicator properties of gold at horizons ranging from 6 to 24 months.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
Inflation and prices
JEL Code(s):
E,
E3,
E31,
E4,
E44
Should Central Banks Adjust Their Target Horizons in Response to House-Price Bubbles?
Staff Discussion Paper 2007-4
Meenakshi Basant Roi,
Rhys R. Mendes
The authors investigate the implications of house-price bubbles for the optimal inflation-target horizon using a dynamic general-equilibrium model with credit frictions, house-price bubbles, and small open-economy features. They find that, given the distribution of shocks and inflation persistence over the past 25 years, the optimal target horizon for Canada tends to be at the lower […]
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Central bank research,
Credit and credit aggregates,
Economic models,
Inflation targets,
Monetary policy framework,
Monetary policy transmission
JEL Code(s):
E,
E4,
E42,
E44,
E5,
E52,
E58,
E6,
E61
Vulnerabilities in Defined-Benefit Pension Plans
Staff Discussion Paper 2007-3
Jack Selody
An effective pension system enhances economic and financial efficiency. A majority of pension plans in Canada are defined-benefit (DB) plans, but DB plans are under stress from increasing longevity, low long-term interest rates, and the shrinking equity premium. DB plans are vulnerable to such shocks because they are complex financial vehicles, with interdependencies not fully […]
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Financial institutions
JEL Code(s):
G,
G2,
G23