D3 - Distribution - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T21:18:28+00:00Demographic Origins of the Decline in Labor’s Share
https://www.bankofcanada.ca/2023/04/staff-working-paper-2023-20/
Declining labour market dynamism of workers results in an increasing wedge between their earnings and their marginal product as they age. This wedge and the demographic shift in the earnings shares of older workers can account for 59% of the decline in labor’s share of earnings in the United States.2023-04-13T10:49:28+00:00enDemographic Origins of the Decline in Labor’s Share2023-04-13Labour marketsProductivityStaff Working Paper 2023-20https://www.bankofcanada.ca/wp-content/uploads/2023/04/swp2023-20.pdfStaff Working Paper 2023-20Andrew GloverJacob ShortApril 2023DD3D33EE2E25JJ1J3J6J62Income Inequality in Canada
https://www.bankofcanada.ca/2022/07/staff-discussion-paper-2022-16/
Data show that income inequality in Canada increased substantially during the 1980s and first half of the 1990s but has been relatively stable over the past 25 years. This increase was felt mainly by low-income earners and younger people, while older people benefited from higher retirement income.2022-07-27T07:13:13+00:00enIncome Inequality in Canada2022-07-27Central bank researchLabour marketsMonetary and financial indicatorsStaff Discussion Paper 2022-16https://www.bankofcanada.ca/wp-content/uploads/2022/07/sdp2022-16.pdfIncome Inequality in CanadaSarah BurkinshawYaz TerajimaCarolyn A. WilkinsJuly 2022DD3D31D6D63II2I24I3I32JJ3J31J32NN3N32Job Ladder and Business Cycles
https://www.bankofcanada.ca/2022/03/staff-working-paper-2022-14/
During downturns, workers get stuck in low-productivity jobs and wages remain stagnant. I build an heterogenous agent incomplete market model with a full job ladder that accounts for these facts. An adverse financial shock calibrated to the US Great Recession replicates the period’s slow recovery and missing disinflation.2022-03-21T15:05:02+00:00enJob Ladder and Business Cycles2022-03-21Business fluctuations and cyclesInflation and pricesLabour marketsProductivityStaff Working Paper 2022-14https://www.bankofcanada.ca/wp-content/uploads/2022/03/swp2022-14.pdfStaff Working Paper 2022-14Felipe AlvesMarch 2022DD3D31D5D52EE2E21E24E3E31E32Household Heterogeneity and the Performance of Monetary Policy Frameworks
https://www.bankofcanada.ca/2022/03/staff-working-paper-2022-12/
Consumption inequality and a low interest rate environment are two important trends in today’s economy. But the implications they may have—and how those implications interact—within different monetary policy frameworks are not well understood. We study the ranking of alternative frameworks that take these trends into account.2022-03-07T15:44:04+00:00enHousehold Heterogeneity and the Performance of Monetary Policy Frameworks2022-03-07Economic modelsMonetary policy and uncertaintyMonetary policy frameworkMonetary policy transmissionStaff Working Paper 2022-12https://www.bankofcanada.ca/wp-content/uploads/2022/03/swp2022-12.pdfStaff Working Paper 2022-12Edouard DjeutemMario HeAbeer RezaYang ZhangMarch 2022DD3D31D5D52EE2E21E3E31E5E52E58Heterogeneity and Monetary Policy: A Thematic Review
https://www.bankofcanada.ca/2022/02/staff-discussion-paper-2022-2/
The theory that rich economic diversity of businesses and households both affects and is shaped by economy-wide fluctuations has strong implications for monetary policy. This review places these insights in a Canadian context.2022-02-02T09:25:14+00:00enHeterogeneity and Monetary Policy: A Thematic Review2022-02-02Economic modelsMonetary policy and uncertaintyMonetary policy transmissionStaff Discussion Paper 2022-2https://www.bankofcanada.ca/wp-content/uploads/2022/02/sdp2022-2.pdfHeterogeneity and Monetary Policy: A Thematic ReviewFelipe AlvesChristian BustamanteXing GuoKatya KartashovaSoyoung LeeThomas Michael PughKurt SeeYaz TerajimaAlexander UeberfeldtFebruary 2022DD2D25D3D31EE2E22E24E5E50E52Four Decades of Canadian Earnings Inequality and Dynamics Across Workers and Firms
https://www.bankofcanada.ca/2021/04/staff-working-paper-2021-20/
We use four decades of Canadian matched employer-employee data to explore how inequality and the dynamics of individual earnings have evolved over time in Canada. We also examine how the earnings growth of individuals is related to the growth of their employers.2021-04-29T10:53:01+00:00enFour Decades of Canadian Earnings Inequality and Dynamics Across Workers and Firms2021-04-29Econometric and statistical methodsFirm dynamicsLabour marketsPotential outputProductivityStaff Working Paper 2021-20https://www.bankofcanada.ca/wp-content/uploads/2021/04/swp2021-20.pdfFour Decades of Canadian Earnings Inequality and Dynamics Across Workers and FirmsAudra BowlusÉmilien Gouin-BonenfantHuju LiuLance LochnerYoungmin ParkApril 2021DD2D22D3D31EE2E24JJ2J24J3J31J6J63Distributional Effects of Payment Card Pricing and Merchant Cost Pass-through in Canada and the United States
https://www.bankofcanada.ca/2021/02/staff-working-paper-2021-8/
Although credit cards are more expensive for merchants to accept than cash or debit cards, merchants typically pass through their costs evenly to all customers. Along with consumer card rewards and banking fees, this creates cross-subsidies between payment methods. Because higher-income individuals tend to use credit cards more than those with lower incomes, our results indicate that these cross-subsidies might lead to regressive distributional effects.2021-02-05T10:29:38+00:00enDistributional Effects of Payment Card Pricing and Merchant Cost Pass-through in Canada and the United States2021-02-05Bank notesFinancial institutionsFinancial servicesMarket structure and pricingPayment clearing and settlement systemsStaff Working Paper 2021-8https://www.bankofcanada.ca/wp-content/uploads/2021/02/swp2021-8.pdfDistributional Effects of Payment Card Pricing and Merchant Cost Pass-through in Canada and the United StatesMarie-Hélène FeltFumiko HayashiJoanna StavinsAngelika WelteFebruary 2021DD1D12D2D23D3D31EE4E42GG2G21LL8L81Towards a HANK Model for Canada: Estimating a Canadian Income Process
https://www.bankofcanada.ca/2020/12/staff-discussion-paper-2020-13/
How might one simulate a million realistic income paths and compute their statistical moments in under a second? Using CUDA-based methods to estimate the Canadian earnings process, I find that the distribution of labour income growth is sharply peaked with heavy tails—similar to that in the United States.2020-12-11T09:42:20+00:00enTowards a HANK Model for Canada: Estimating a Canadian Income Process2020-12-11Economic modelsLabour marketsStaff Discussion Paper 2020-13https://www.bankofcanada.ca/wp-content/uploads/2020/12/sdp2020-13.pdfTowards a HANK Model for Canada: Estimating a Canadian Income ProcessIskander KaribzhanovDecember 2020DD3D31EE2E24JJ3J31Model Uncertainty and Wealth Distribution
https://www.bankofcanada.ca/2019/12/staff-working-paper-2019-48/
This paper studies the implications of model uncertainty for wealth distribution in a tractable general equilibrium model with a borrowing constraint and robustness à la Hansen and Sargent (2008). Households confront model uncertainty about the process driving the return of the risky asset, and they choose robust policies.2019-12-17T08:29:50+00:00enModel Uncertainty and Wealth Distribution2019-12-17Asset pricingBusiness fluctuations and cyclesEconomic modelsStaff Working Paper 2019-48https://www.bankofcanada.ca/wp-content/uploads/2019/12/swp2019-48.pdfModel Uncertainty and Wealth DistributionEdouard DjeutemShaofeng XuDecember 2019DD3D8EE2House Prices, Consumption and the Role of Non-Mortgage Debt
https://www.bankofcanada.ca/2013/01/working-paper-2013-2/
This paper examines the relationship between house prices and consumption, through the use of debt. Using unique Canadian household-level data that reports the uses of debt, we begin by looking at the relationship between house prices and debt.2013-01-09T11:21:58+00:00enHouse Prices, Consumption and the Role of Non-Mortgage Debt2013-01-09Credit and credit aggregatesDomestic demand and componentsWorking Paper 2013-2https://www.bankofcanada.ca/wp-content/uploads/2013/01/wp2013-02.pdfHouse Prices, Consumption and the Role of Non-Mortgage DebtKatya KartashovaBen TomlinJanuary 2013DD1D10D14D3D31EE2E21