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2343
result(s)
From He-Cession to She-Stimulus? The Labor Market Impact of Fiscal Policy Across Gender
Staff Working Paper 2021-42
Alica Ida Bonk,
Laure Simon
The effects of fiscal policy shocks on labour market outcomes across gender depend on the type of public expenditure. Women benefit most from increases in the government wage bill, while men are the main beneficiaries of higher investment spending.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Fiscal policy,
Labour markets
JEL Code(s):
E,
E3,
E32,
E6,
E62,
J,
J1,
J16,
J2,
J21
Reaching for yield or resiliency? Explaining the shift in Canadian pension plan portfolios
Staff Analytical Note 2021-20
Sébastien Betermier,
Nicholas Byrne,
Jean-Sébastien Fontaine,
Hayden Ford,
Jason Ho,
Chelsea Mitchell
“Reach for yield”—This is the commonly heard explanation for why pension plans shift their portfolios toward alternative assets. But we show that the new portfolios also hold more bonds, offer lower average returns and produce smaller and less volatile solvency deficits. These shifts are part of a broader strategy to reduce solvency risk.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Financial institutions,
Financial markets,
Financial system regulation and policies
JEL Code(s):
G,
G1,
G11
Household financial vulnerabilities and physical climate risks
Staff Analytical Note 2021-19
Thibaut Duprey,
Colin Jones,
Callie Symmers,
Geneviève Vallée
Natural disasters occur more often than before, potentially exposing households to financial distress. We study the intersection between household financial vulnerabilities and severe weather events.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Climate change,
Credit and credit aggregates,
Financial stability,
Housing,
Recent economic and financial developments
JEL Code(s):
C,
C2,
C21,
C3,
C38,
D,
D1,
D14,
Q,
Q5,
Q54
Fiscal Spillovers: The Case of US Corporate and Personal Income Taxes
Staff Working Paper 2021-41
Madeline Hanson,
Daniela Hauser,
Romanos Priftis
How do changes to personal and corporate income tax rates in the United States affect its trading partners? Spillover effects from cuts in the two taxes differ. They are generally small and negative for corporate taxes, but sizable and positive for personal income taxes.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Econometric and statistical methods,
Exchange rate regimes,
Fiscal policy,
International topics
JEL Code(s):
E,
E3,
E32,
E6,
E62,
F,
F4,
F44,
H,
H2,
H20
Measuring the Effectiveness of Salespeople: Evidence from a Cold-Drink Market
Staff Working Paper 2021-40
Haofeng Jin,
Zhentong Lu
Salespeople are widely employed in many industries. We leverage a unique data set on retail sales from a leading Chinese cold-drink manufacturer and information on the firm’s salespeople assignment rule to measure the causal effect of salespeople on product revenue.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Labour markets,
Service sector
JEL Code(s):
L,
L8,
L81,
M,
M3,
M5
Canadian job postings in digital sectors during COVID-19
Staff Analytical Note 2021-18
Alejandra Bellatin,
Gabriela Galassi
Digital technologies have helped maintain economic activity while allowing people to remain physically distant throughout the COVID-19 crisis. This note shows that the number of online postings for jobs related to the production of digital technologies in Canada decreased less than the number for other jobs and recovered more quickly after lockdowns were lifted.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Coronavirus disease (COVID-19),
Labour markets
JEL Code(s):
E,
E2,
E24,
J,
J2,
J23,
J6,
J63,
J64,
O,
O3,
O33
The Bank of Canada’s “Horse Race” of Alternative Monetary Policy Frameworks: Some Interim Results from Model Simulations
Staff Discussion Paper 2021-13
José Dorich,
Rhys R. Mendes,
Yang Zhang
Bank of Canada staff are running a “horse race” of alternative monetary policy frameworks in the lead-up to 2021 renewal of the Bank’s monetary policy framework. This paper summarizes some interim results of model simulations from their research.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Central bank research,
Economic models,
Inflation targets,
Monetary policy,
Monetary policy framework,
Monetary policy transmission
JEL Code(s):
E,
E2,
E27,
E3,
E4,
E5,
E52,
E58
Centralizing Over-the-Counter Markets?
Staff Working Paper 2021-39
Jason Allen,
Milena Wittwer
Would a shift in trading in fixed-income markets—from over the counter (bilateral trading) to a centralized electronic platform—improve welfare? We use trade-level data on the secondary market for Government of Canada debt to answer this question.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions,
Market structure and pricing
JEL Code(s):
D,
D4,
D40,
D47,
G,
G1,
G10,
G2,
G20,
L,
L1,
L10
The uneven economic consequences of COVID 19: A structural analysis
Staff Analytical Note 2021-17
Martin Kuncl,
Austin McWhirter,
Alexander Ueberfeldt
Using a structural model, we study the economic consequences of the COVID-19 shock. The uneven consequences, such as higher unemployment among young households, amplify the negative implications for the macroeconomy, household vulnerabilities and consumption inequality. Government support programs have stimulated the economy and lowered inequality and medium-term vulnerabilities.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Coronavirus disease (COVID-19),
Fiscal policy,
Monetary policy
JEL Code(s):
E,
E2,
E20,
E5,
E52,
E6,
E62