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 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
Testing Collusion and Cooperation in Binary Choice Games
Staff Working Paper 2023-58
Erhao Xie
This paper studies the testable implication of players’ collusive or cooperative behaviour in a binary choice game with complete information. I illustrate the implementation of this test by revisiting the entry game between Walmart and Kmart.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Market structure and pricing
JEL Code(s):
C,
C5,
C57,
L,
L1,
L13
Immigration and Provision of Public Goods: Evidence at the Local Level in the U.S.
Staff Working Paper 2023-57
Anna Maria Mayda,
Mine Z. Senses,
Walter Steingress
Using U.S. county-level data from 1990 to 2010, we study the causal impact of immigration on the provision of local public goods. We uncover substantial heterogeneity across immigrants with different skills and immigrants of different generations, which leads to unequal fiscal effects across U.S. counties.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Fiscal policy,
International topics,
Regional economic developments
JEL Code(s):
F,
F2,
F22,
H,
H4,
H41,
H7,
J,
J6,
J61,
J68,
R,
R5
How Far Do Canadians Need to Travel to Access Cash?
Staff Discussion Paper 2023-28
Heng Chen,
Daneal O’Habib,
Hongyu Xiao
This paper develops a travel-based metric to measure Canadians’ access to cash from automated banking machines (ABMs) and financial institution branches. We find that, overall, access to cash remained stable between 2019 and 2022. The total number of ABMs in Canada increased by 3.7% and the total number of branches decreased by 5.2% during that period.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Bank notes,
Financial services,
Regional economic developments
JEL Code(s):
G,
G2,
G21,
J,
J1,
J15,
R,
R5,
R51
International Portfolio Rebalancing and Fiscal Policy Spillovers
Staff Working Paper 2023-56
Sami Alpanda,
Uluc Aysun,
Serdar Kabaca
We evaluate, both empirically and theoretically, the spillover effects that debt-financed fiscal policy interventions of the United States have on other economies. We consider a two-country model with international portfolio rebalancing effects. We show that US fiscal expansions would increase global long-term rates and hinder economic activity in the rest of the world.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Economic models,
Fiscal policy,
International topics
JEL Code(s):
E,
E3,
E32,
E6,
E62,
F,
F4,
F41,
F44