High-quality, innovative research underpins everything we do. Explore the broad range of staff research that our people have the intellectual freedom to pursue, and learn about the ways in which the Bank collaborates with and supports the external research community.
You can also browse all our research and subscribe to our research newsletter and latest research feed.
Staff research
Staff research is produced independently from the Bank’s Governing Council. This research may support or challenge prevailing policy orthodoxy or differ from official Bank views. Therefore, views expressed are solely those of the authors, and no responsibility for them should be attributed to the Bank.
Staff analytical notes
Staff analytical notes are short articles that focus on topical issues relevant to the current economic and financial context.
Staff working papers
Staff working papers provide a forum for staff to publish work-in-progress research intended for journal publication.
Staff discussion papers
Staff discussion papers are completed staff research studies on a wide variety of subjects relevant to central bank policy.
Technical reports
Technical reports provide detailed descriptions of staff research project methodologies and model development.
Research leadership
Profiles of the Bank’s economic research leadership, featuring their publications, education, and research fields.
Research staff
Profiles of the Bank’s economic research staff, featuring their publications, education and research fields.
Authors
Listing of current and past authors of Bank research papers, articles and other publications, 1994 to present.
Collaboration
Financial System Research Centre
The FSRC promotes financial system research in Canada to inform policy and improve the economic and financial well-being of Canadians.
Visiting Scholar Program
This program provides outstanding scholars with an opportunity to work at the Bank of Canada.
Conferences and workshops
Papers and proceedings from Bank of Canada conferences and workshops
Partnerships in Innovation and Technology (PIVOT) Program
We’re looking for innovators to help us respond to challenges that may not have a commercial solution readily available.
Awards
Research paper awards
At the Bank of Canada, we’re pleased to offer awards for research papers by students and by staff.
Scholarship awards
The Bank of Canada’s Scholarship and Work Placement program is designed to assist students with disabilities and Indigenous students in furthering their education and to encourage them to take an interest in the work performed by the Bank of Canada.
Fellowship Program
Learn more about a program to foster excellence in research in Canada and develop partnerships with experts outside the Bank of Canada in areas important to the Bank’s mandate.
The Governor's Challenge
The Governor’s Challenge simulates the monetary policy decision-making process by putting students in the role of advisor to the Bank’s Governing Council.
Browse research
Find Bank of Canada research by keyword, author, content type, JEL code, topic or date of publication.
Research newsletters
Our newsletter summarizes internal and external publication contributions by Bank of Canada researchers.
Latest research
Forecasting Risks to the Canadian Economic Outlook at a Daily Frequency
Staff Discussion Paper 2023-19
Chinara Azizova,
Bruno Feunou,
James Kyeong
This paper quantifies tail risks in the outlooks for Canadian inflation and real GDP growth by estimating their conditional distributions at a daily frequency. We show that the tail risk probabilities derived from the conditional distributions accurately reflect realized outcomes during the sample period from 2002 to 2022.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Business fluctuations and cycles,
Econometric and statistical methods
JEL Code(s):
C,
C3,
C32,
C5,
C58,
E,
E4,
E44,
G,
G1,
G17
The Macroeconomic Effects of Debt Relief Policies During Recessions
Staff Working Paper 2023-48
Soyoung Lee
A large-scale reduction in mortgage principal can strengthen a recovery, support house prices and lower foreclosures. The nature of the intervention shapes its impact, which rests on how resources are redistributed across households. The availability of bankruptcy on unsecured debt changes the response to large-scale mortgage relief by reducing precautionary savings.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Credit and credit aggregates,
Debt management,
Housing
JEL Code(s):
E,
E2,
E21,
E3,
E32,
E6
Labour Supply and Firm Size
Staff Working Paper 2023-47
Lin Shao,
Faisal Sohail,
Emircan Yurdagul
This paper documents a systematic pattern of how wages, hours and their relationship vary across firms of different sizes. Using a model with heterogeneous firms and workers, we show how the interplay between wages, hours and firm size affect worker sorting and inequality.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Firm dynamics,
Labour markets
JEL Code(s):
E,
E2,
E24,
J,
J2,
J3,
J31
International Economic Sanctions and Third-Country Effects
Staff Working Paper 2023-46
Fabio Ghironi,
Daisoon Kim,
Galip Kemal Ozhan
We study the transmission and third-country effects of international sanctions. A sanctioned country’s losses are mitigated, and the sanctioning country’s losses amplified, if a third country does not join the sanctions, but the third country benefits from not joining.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Exchange rates,
International topics
JEL Code(s):
F,
F3,
F31,
F4,
F41,
F42,
F5,
F51