Corinne Luu - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T17:39:31+00:00Assessing the effects of higher immigration on the Canadian economy and inflation
https://www.bankofcanada.ca/2023/12/staff-analytical-note-2023-17/
We assess the complex macroeconomic implications of Canada’s recent population increases. We find that newcomers significantly boost the non-inflationary, potential growth of the economy, but existing imbalances in the housing sector may be exacerbated. Greater housing supply is needed to complement the long-term economic benefits of population growth.2023-12-07T12:35:52+00:00enAssessing the effects of higher immigration on the Canadian economy and inflation2023-12-07Benchmarks for assessing labour market health: 2023 update
https://www.bankofcanada.ca/2023/05/staff-analytical-note-2023-7/
We enhance benchmarks for assessing strength in the Canadian labour market. We find the labour market remains tight despite recent strong increases in labour supply, including among prime-working-age women. We also assess the anticipated easing in labour conditions in a context of high population growth.2023-05-29T10:01:05+00:00enBenchmarks for assessing labour market health: 2023 update2023-05-29Benchmarks for assessing labour market health
https://www.bankofcanada.ca/2022/04/staff-analytical-note-2022-2/
We propose a range of benchmarks for assessing labour market strength for monetary policy. This work builds on a previous framework that considers how diverse and segmented the labour market is. We apply these benchmarks to the Canadian labour market and find that it has more than recovered from the COVID-19 shock.2022-04-13T14:04:42+00:00enBenchmarks for assessing labour market health2022-04-13The Size and Characteristics of Informal (“Gig”) Work in Canada
https://www.bankofcanada.ca/2019/02/staff-analytical-note-2019-6/
Underlying wage growth has fallen short of what would be consistent with an economy operating with little or no slack. While many factors could explain this weakness, the availability of additional labour resources from informal (“gig”) work—not fully captured in standard measures of employment and hours worked—may play a role.2019-02-21T15:25:45+00:00enThe Size and Characteristics of Informal (“Gig”) Work in Canada2019-02-21The State of Labour Market Churn in Canada
https://www.bankofcanada.ca/2019/01/staff-analytical-note-2019-4/
The literature highlights that labour market churn, including job-to-job transitions, is a key element of wage growth. Using microdata from the Labour Force Survey, we compute measures of labour market churn and compare these with pre-crisis averages to assess implications for wage growth.2019-01-30T09:45:54+00:00enThe State of Labour Market Churn in Canada2019-01-30Disaggregating Household Sensitivity to Monetary Policy by Expenditure Category
https://www.bankofcanada.ca/2018/10/staff-analytical-note-2018-32/
Because the Bank of Canada has started withdrawing monetary stimulus, monitoring the transmission of these changes to monetary policy will be important. Subcomponents of consumption and housing will likely respond differently to a monetary policy tightening, both in terms of the aggregate effect and timing.2018-10-02T11:19:36+00:00enDisaggregating Household Sensitivity to Monetary Policy by Expenditure Category2018-10-02The Accuracy of Short-Term Forecast Combinations
https://www.bankofcanada.ca/wp-content/uploads/2013/08/boc-review-summer13-granziera.pdf
This article examines whether combining forecasts of real GDP from different models can improve forecast accuracy and considers which model-combination methods provide the best performance. In line with previous literature, the authors find that combining forecasts generally improves forecast accuracy relative to various benchmarks. Unlike several previous studies, however, they find that, rather than assigning equal weights to each model, unequal weighting based on the past forecast performance of models tends to improve accuracy when forecasts across models are substantially different.2013-08-15T08:53:24+00:00enThe Accuracy of Short-Term Forecast Combinations2013-08-15A Financial Conditions Index for the United States
https://www.bankofcanada.ca/2009/08/discussion-paper-2009-11/
The financial crisis of 2007–09 has highlighted the importance of developments in financial conditions for real economic activity. The authors estimate the effect of current and past shocks to financial variables on U.S. GDP growth by constructing two growthbased financial conditions indexes (FCIs) that measure the contribution to quarterly (annualized) GDP growth from financial conditions.2009-08-01T11:01:09+00:00enA Financial Conditions Index for the United States2009-08-01Business fluctuations and cyclesMonetary and financial indicatorsMonetary conditions indexRecent economic and financial developmentsDiscussion Paper 2009-11https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp09-11.pdfA Financial Conditions Index for the United StatesKimberly BeatonRené LalondeCorinne LuuAugust 2009EE3E32E4E44E47E5E51India and the Global Demand for Commodities: Is There an Elephant in the Room?
https://www.bankofcanada.ca/2008/12/discussion-paper-2008-18/
After 10 years of impressive growth, India is now the fourth largest economy in the world. Yet, to date, India's impact on global commodity markets has been muted. The authors examine how India's domestic and trade policies have distorted and constrained its demand for commodities.2008-12-25T15:42:42+00:00enIndia and the Global Demand for Commodities: Is There an Elephant in the Room?2008-12-25Development economicsInternational topicsDiscussion Paper 2008-18https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp08-18.pdfIndia and the Global Demand for Commodities: Is There an Elephant in the Room?Michael FrancisCorinne LuuDecember 2008FF1F14OO1O13O5O53The Carry Trade, Portfolio Diversification, and the Adjustment of the Japanese Yen
https://www.bankofcanada.ca/2008/01/discussion-paper-2008-2/
In this paper, the author considers whether fundamentals or other factors can explain the yen's ongoing weakness. In particular, the importance of capital outflows due to the carry trade and longer-term portfolio investment outflows, which may be delaying the adjustment of the yen, are investigated. A simple portfolio model is developed, composed of a speculative […]2008-01-21T12:33:09+00:00enThe Carry Trade, Portfolio Diversification, and the Adjustment of the Japanese Yen2008-01-21Exchange ratesInternational topicsRecent economic and financial developmentsDiscussion Paper 2008-2https://www.bankofcanada.ca/wp-content/uploads/2010/01/dp08-2.pdfThe Carry Trade, Portfolio Diversification, and the Adjustment of the Japanese YenCorinne LuuJanuary 2008FF2F21F3F31F32GG1G11