Research

High-quality, innovative research underpins everything we do. Find out about the Bank’s current research priorities, 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 supports and collaborates with the external research community. You can also browse our research and subscribe to our monthly research newsletter and latest research feed.

Research Priorities

Guided by the Bank’s medium-term plan and shaped by the policy environment, the Bank dedicates significant effort and resources to a range of annual and multi-year research priorities.

The Bank’s Medium‐term Research Plan, 2019–21

Increasing the relevance and visibility of Bank research

Digital Currencies and Fintech

Understanding digital currencies and related financial technologies is an important part of our research agenda.

Toward 2021

Reviewing the Monetary Policy Framework.

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.

Author List

Listing of current and past authors of Bank research papers, articles and other publications, 1994 to present.

Staff Working Papers

Staff Working Papers provide a forum for staff to publish work-in-progress research intended for journal publication.

Our People

Profiles of the Bank’s economic research staff, featuring sections on their publications, education, and research interests.

Staff Discussion Papers

Staff Discussion Papers are completed staff research studies on a wide variety of subjects relevant to central bank policy.

Research Newsletter

Subscribe to our monthly newsletter summarizing internal and external publication contributions by Bank of Canada researchers.

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

Information on the Bank of Canada’s collaborative research program for outstanding scholars

Conferences, Seminars and Workshops

Papers and proceedings from Bank of Canada conferences, seminars, 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.

Latest Research

Government Debt in an Open Economy

Technical Report No. 58 Douglas Laxton, Robert Tetlow
This paper introduces the CORE model, a prototype for a new quarterly model of the Canadian economy, designed for projections and policy analysis with focus beyond the very short run. The model has a clearly defined equilibrium and explicit adjustment mechanisms, primarily through relative prices, that are dynamically stable. Overlaid on a neo-classical growth model […]
Content Type(s): Staff Research, Technical Reports Topic(s): Fiscal policy JEL Code(s): C, C5, C53, F, F3, F32, H, H3, H30, H6, H60

Some Implications of International Financial Integration for Canadian Public Policy

Technical Report No. 57 William White
The domestic capital markets of the major industrial countries have become more closely integrated over the last two decades, a by-product of regulatory and technological change. This paper considers some of the implications of those changes for Canadian public policy. While no profound implications are found for Canadian macroeconomic policies, which probably reflects a long […]
Content Type(s): Staff Research, Technical Reports Topic(s): International topics JEL Code(s): E, E5, E50, F, F3, F33, H, H3, H30

Wage and Price Dynamics in Canada

Technical Report No. 56 Barry Cozier
This paper examines wage and price dynamics in Canada with a view towards testing the implications of a wage-price dynamics, according to which unit labour costs are determined by a wage Phillips curve while prices are set as a markup over unit labour costs. This model is compared to an alternative model in which excess […]
Content Type(s): Staff Research, Technical Reports Topic(s): Inflation and prices JEL Code(s): C, C5, C51, C52, E, E2, E24, E3, E31

Some Evidence on Hysteresis and the Costs of Disinflation in Canada

Technical Report No. 55 Barry Cozier, Gordon Wilkinson
This paper addresses the following questions: How large are the output costs of disinflation in Canada? Are these costs temporary, as predicted by natural-rate models, or are they permanent, as predicted by hysteresis models? Are the costs of disinflation higher at lower rates of inflation? Are they higher when the economy is at or below […]
Content Type(s): Staff Research, Technical Reports Topic(s): Labour markets JEL Code(s): E, E2, E24, E3, E31