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
Crowdfunding and Risk
Staff Working Paper 2023-28
David Cimon
Crowdfunding may enable unique products to reach the consumer market. I model a crowdfunding technology that publicly screens consumer demand early in the production process. In this model, entrepreneurs like crowdfunding for risky projects where demand is uncertain, but not for large, safe projects or for projects where production costs are uncertain.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Digital currencies and fintech,
Financial markets,
Financial services
JEL Code(s):
G,
G2,
G21,
G24,
G3,
G32
An Investigation into the Effects of Border Carbon Adjustments on the Canadian Economy
Staff Working Paper 2023-27
Y.-H. Henry Chen,
Hossein Hosseini Jebeli,
Craig Johnston,
Sergey Paltsev,
Marie-Christine Tremblay
We examine the economic implications of border carbon adjustments (BCAs) for Canada. We find that, BCAs, in the form of import tariffs, reduce Canada’s carbon leakage and improve its competitiveness when Canada is part of a broad coalition of BCA-implementing countries. Welfare also improves when tariff revenues are transferred to households.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Climate change,
International topics,
Trade integration
JEL Code(s):
C,
C6,
C68,
F,
F1,
H,
H2,
Q,
Q3,
Q37,
Q5
Benchmarks for assessing labour market health: 2023 update
Staff Analytical Note 2023-7
Erik Ens,
Kurt See,
Corinne Luu
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.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Business fluctuations and cycles,
Coronavirus disease (COVID-19),
Econometric and statistical methods,
Labour markets,
Monetary policy
JEL Code(s):
E,
E2,
E24,
J,
J2,
J21,
J6
Reviewing Canada’s Monetary Policy Implementation System: Does the Evolving Environment Support Maintaining a Floor System?
Staff Discussion Paper 2023-10
Toni Gravelle,
Ron Morrow,
Jonathan Witmer
At the onset of the pandemic, the Bank of Canada transitioned its framework for monetary policy implementation from a corridor system to a floor system, which it has since decided to maintain. We provide a comprehensive analysis of both frameworks and assess their relative merits based on five key criteria that define a sound framework.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Market structure and pricing,
Monetary policy implementation,
Payment clearing and settlement systems
JEL Code(s):
D,
D4,
D47,
E,
E4,
E42,
E5,
E58