Digitalization: Definition and Measurement
This paper provides an overview of digitalization and its economic implications. We assess the scope of digitalization in Canada as well as the challenges related to its measurement.
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195
result(s)
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
JEL Code(s):
C,
C3,
C32,
C5,
C58,
E,
E4,
E44,
G,
G1,
G17
Research Theme(s):
Models and tools,
Econometric, statistical and computational methods,
Monetary policy,
Inflation dynamics and pressures,
Real economy and forecasting
Digitalization: Implications for Monetary Policy
Staff discussion paper 2023-18
Vivian Chu,
Tatjana Dahlhaus,
Christopher Hajzler,
Pierre-Yves Yanni
We explore the implications of digitalization for monetary policy, both in terms of how monetary policy affects the economy and in terms of data analysis and communication with the public.
Content Type(s):
Staff research,
Staff discussion papers
JEL Code(s):
C,
C4,
C8,
E,
E3,
E31,
E32,
E5,
E52
Research Theme(s):
Models and tools,
Econometric, statistical and computational methods,
Economic models,
Monetary policy,
Monetary policy framework and transmission,
Structural challenges,
Digitalization and productivity
Digitalization: Productivity
Staff discussion paper 2023-17
Jeffrey Mollins,
Temel Taskin
We examine the relationship between digitalization and productivity, the factors that influence this relationship, and how digitalization’s effect on productivity could change firm behaviour.
Content Type(s):
Staff research,
Staff discussion papers
JEL Code(s):
E,
E2,
L,
L1,
L11,
O,
O4,
O47,
O5,
O51
Research Theme(s):
Structural challenges,
Digitalization and productivity
Digitalization: Labour Markets
Staff discussion paper 2023-16
Alex Chernoff,
Gabriela Galassi
In this paper, the authors assess the relationship between digitalization and labour demand and supply, and how this relationship affects wages and income inequality. We also explore implications of recent digitalization trends for the future of work.
Content Type(s):
Staff research,
Staff discussion papers
JEL Code(s):
I,
I2,
I23,
J,
J2,
J23,
J24,
O,
O3,
O33
Research Theme(s):
Structural challenges,
Demographics and labour supply,
Digitalization and productivity
Unmet Payment Needs and a Central Bank Digital Currency
Staff discussion paper 2023-15
Christopher Henry,
Walter Engert,
Alexandra Sutton-Lalani,
Sebastian Hernandez,
Darcey McVanel,
Kim Huynh
We discuss the payment habits of Canadians both in the current payment environment and in a hypothetical cashless environment.
Content Type(s):
Staff research,
Staff discussion papers
JEL Code(s):
C,
C1,
C12,
C9,
E,
E4,
O,
O5,
O54
Research Theme(s):
Money and payments,
Cash and bank notes,
Digital assets and fintech,
Retail payments
Cryptoasset Ownership and Use in Canada: An Update for 2022
Staff discussion paper 2023-14
Daniela Balutel,
Christopher Henry,
Doina Rusu
We find that Bitcoin ownership declined from 13% in 2021 to 10% in 2022. This drop occurred against a background of steep price declines and an increasingly tight regulatory atmosphere.
Content Type(s):
Staff research,
Staff discussion papers
JEL Code(s):
C,
C8,
C81,
E,
E4,
O,
O5,
O51
Research Theme(s):
Money and payments,
Cash and bank notes,
Digital assets and fintech
What Can Earnings Calls Tell Us About the Output Gap and Inflation in Canada?
Staff discussion paper 2023-13
Marc-André Gosselin,
Temel Taskin
We construct new indicators of demand and supply for the Canadian economy by using natural language processing techniques to analyze earnings calls of publicly listed firms. Our results indicate that the new indicators could help central banks identify inflationary pressures in real time.
Content Type(s):
Staff research,
Staff discussion papers
JEL Code(s):
C,
C1,
C3,
E,
E3,
E5
Research Theme(s):
Models and tools,
Econometric, statistical and computational methods,
Monetary policy,
Inflation dynamics and pressures,
Real economy and forecasting
Estimating the Slope of the Demand Function at Auctions for Government of Canada Bonds
Staff discussion paper 2023-12
Bo Young Chang
We use bid data from Government of Canada bond auctions between 1999 and 2021 to gauge the yield sensitivity of these bonds to the issuance amount. Our new metric estimates the demand function of the bidders at each auction and offers insights into the relationship between supply and yield of government bonds.
Content Type(s):
Staff research,
Staff discussion papers
JEL Code(s):
D,
D4,
D44,
G,
G1,
G12
Research Theme(s):
Financial markets and funds management,
Funds management,
Market functioning
Why Consumers Disagree About Future Inflation
Staff discussion paper 2023-11
Naveen Rai,
Patrick Sabourin
Since 2022, consumer inflation expectations have shifted, with a significant increase in those expecting high inflation in the coming year and a surge in those expecting deflation further in the future. Using data from the Canadian Survey of Consumer Expectations, this paper seeks to assess the factors that influence people to expect high inflation, moderate inflation or deflation.
Content Type(s):
Staff research,
Staff discussion papers
JEL Code(s):
C,
C8,
C83,
D,
D8,
D84,
E,
E3,
E31
Research Theme(s):
Monetary policy,
Inflation dynamics and pressures,
Real economy and forecasting