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535
result(s)
An Overview of the Indigenous Economy in Canada
Staff Discussion Paper 2023-25
Alex Chernoff,
Calista Cheung
Several measures suggest economic outcomes have improved for Indigenous Peoples in recent decades. Yet, institutional settings and gaps in infrastructure and financing continue to hinder their economic progress. Recent efforts have helped address some data gaps, and new institutions are helping Indigenous communities to overcome historic barriers to growth.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Central bank research,
Development economics,
Financial services,
Labour markets,
Monetary policy transmission,
Regional economic developments
JEL Code(s):
E,
E0,
E01,
E02,
N,
N4,
N41,
N42,
O,
O4,
O43,
P,
P4,
P48
A Blueprint for the Fourth Generation of Bank of Canada Projection and Policy Analysis Models
Staff Discussion Paper 2023-23
Donald Coletti
The fourth generation of Bank of Canada projection and policy analysis models seeks to improve our understanding of inflation dynamics, the supply side of the economy and the underlying risks faced by policy-makers coming from uncertainty about how the economy functions.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Economic models,
Inflation and prices,
Labour markets,
Monetary policy and uncertainty
JEL Code(s):
C,
C5,
C50,
C51,
C52,
C53,
C54,
C55
Redefining Financial Inclusion for a Digital Age: Implications for a Central Bank Digital Currency
Staff Discussion Paper 2023-22
Alexandra Sutton-Lalani,
Sebastian Hernandez,
John Miedema,
Jiamin Dai,
Badr Omrane
We explore quantitative and qualitative information about Canadians who face barriers to making digital payments. We also consider the implications of ongoing digitalization for modern financial inclusion and a potential central bank digital currency.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Accessibility,
Bank notes,
Central bank research,
Digital currencies and fintech,
Digitalization,
Financial services
JEL Code(s):
A,
A1,
A14,
E,
E4,
E42,
E5,
E50,
I,
I3,
I31,
O,
O3,
O33,
O5,
O51
Predicting Changes in Canadian Housing Markets with Machine Learning
Staff Discussion Paper 2023-21
Johan Brannlund,
Helen Lao,
Maureen MacIsaac,
Jing Yang
We apply two machine learning algorithms to forecast monthly growth of house prices and existing homes sales in Canada. Although the algorithms can sometimes outperform a linear model, the improvement in forecast accuracy is not always statistically significant.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Econometric and statistical methods,
Financial markets,
Housing
JEL Code(s):
A,
C,
C4,
C45,
C5,
C53,
D,
D2,
R,
R2,
R3
Digitalization: Definition and Measurement
Staff Discussion Paper 2023-20
Guyllaume Faucher,
Stephanie Houle
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.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Digitalization,
Potential output
JEL Code(s):
E,
E0,
E01,
O,
O3,
O33,
O5,
O51
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
Topic(s):
Business fluctuations and cycles,
Econometric and statistical methods
JEL Code(s):
C,
C3,
C32,
C5,
C58,
E,
E4,
E44,
G,
G1,
G17
The Macroeconomic Effects of Debt Relief Policies During Recessions
Staff Working Paper 2023-48
Soyoung Lee
A large-scale reduction in mortgage principal can strengthen a recovery, support house prices and lower foreclosures. The nature of the intervention shapes its impact, which rests on how resources are redistributed across households. The availability of bankruptcy on unsecured debt changes the response to large-scale mortgage relief by reducing precautionary savings.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Credit and credit aggregates,
Debt management,
Housing
JEL Code(s):
E,
E2,
E21,
E3,
E32,
E6
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
Topic(s):
Digitalization,
Labour markets
JEL Code(s):
I,
I2,
I23,
J,
J2,
J23,
J24,
O,
O3,
O33
The contribution of firm profits to the recent rise in inflation
Staff Analytical Note 2023-12
Panagiotis Bouras,
Christian Bustamante,
Xing Guo,
Jacob Short
We measure the contribution to inflation from the growth in markups of Canadian firms. The dynamics of inflation and markups suggest that changes in markups could account for less than one-tenth of inflation in 2021. Further, they suggest that peak inflation was driven primarily by changes in the costs of firms.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Firm dynamics,
Inflation and prices,
Market structure and pricing
JEL Code(s):
D,
D2,
D22,
D4,
E,
E3,
E31,
L,
L1,
L11