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
Cost Pass-Through with Capacity Constraints and International Linkages
Staff Working Paper 2023-16
Reinhard Ellwanger,
Hinnerk Gnutzmann,
Piotr Śpiewanowski
How are regional cost shocks passed through into global prices? We investigate the role of short-run capacity constraints and show that they can induce stark non-linearities in the pass-through. We highlight this effect for the market for ammonia, a commodity produced largely from natural gas.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Climate change,
Econometric and statistical methods,
Inflation and prices,
International topics
JEL Code(s):
L,
L1,
L13,
L6,
L65,
Q,
Q4,
Q40,
Q5,
Q54
We Didn’t Start the Fire: Effects of a Natural Disaster on Consumers’ Financial Distress
Staff Working Paper 2023-15
Anson T. Y. Ho,
Kim Huynh,
David T. Jacho-Chávez,
Geneviève Vallée
We use detailed consumer credit data to investigate the impact of the 2016 Fort McMurray wildfire, the costliest wildfire disaster in Canadian history, on consumers’ financial stress. We focus on the arrears of insured mortgages because of their important implications for financial institutions and insurers’ business risk and relevant management practices.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Climate change,
Credit and credit aggregates,
Econometric and statistical methods,
Financial stability
JEL Code(s):
C,
C2,
C21,
D,
D1,
D12,
G,
G2,
G21,
Q,
Q5,
Q54
Firms’ inflation expectations and price-setting behaviour in Canada: Evidence from a business survey
Staff Analytical Note 2023-3
Ramisha Asghar,
James Fudurich,
Jane Voll
Canadian firms’ expectations for high inflation may be influencing their price setting, supporting strong price growth and delays in the transmission of monetary policy. Using data from the Business Outlook Survey, we investigate the reasons behind widespread price growth seen in Canada in 2021 and early 2022.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Firm dynamics,
Inflation and prices,
Monetary policy transmission,
Recent economic and financial developments
JEL Code(s):
D,
D2,
D22,
E,
E3,
E31
A central bank digital currency for offline payments
Staff Analytical Note 2023-2
Cyrus Minwalla,
John Miedema,
Sebastian Hernandez,
Alexandra Sutton-Lalani
Offline functionality is a key consideration for a potential CBDC. We describe the different types of offline functionality based on their duration outside of network connection—either intermittent (for short periods) or extended (for longer periods). We discuss the advantages and drawbacks of each and consider implications for end-user devices, system resilience and universal accessibility.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Central bank research,
Digital currencies and fintech
JEL Code(s):
E,
E4,
E42,
E5,
E51,
E58,
O,
O3,
O31