Find Bank of Canada research by keyword, author, content type, JEL code, topic or date of publication.
Receive notification by email whenever new research is added to the website.
537
result(s)
COVID-19 and Financial Stability: Practice Ahead of Theory
Staff Discussion Paper 2022-18
Jing Yang,
Hélène Desgagnés,
Grzegorz Halaj,
Yaz Terajima
The COVID-19 pandemic uncovered policy challenges related to the economic measures that were taken to support the economy. Two years later, we attempt to identify the broader impact of these measures and research that needs to follow.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Coronavirus disease (COVID-19),
Financial stability,
Financial system regulation and policies
JEL Code(s):
E,
E5,
E58,
E6,
E61,
G,
G2,
G21,
H,
H3,
H8,
H84
Has wage setting changed in Canada? Evidence from the pre-pandemic 2020 Wage-Setting Survey
Staff Analytical Note 2022-10
David Amirault,
Sarah Miller,
Matthieu Verstraete
Just before the pandemic began, the Bank of Canada conducted the 2020 Wage-Setting Survey. The goal was to explore the unusual trend of subdued wage growth in 2018 and 2019 despite a tightening in the labour market. Although this wage puzzle was beginning to resolve at the time of the survey, results highlight changes in several factors that may have important impacts on wage dynamics.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Central bank research,
Labour markets
JEL Code(s):
J,
J3,
J31,
J32,
J33,
J6,
J63
Risk and State-Dependent Financial Frictions
Staff Working Paper 2022-37
Martin Harding,
Rafael Wouters
Using a nonlinear New Keynesian model with a financial accelerator, we show that financial frictions generate large state-dependent amplification effects. Shocks propagate more strongly in periods of financial stress. We propose an endogenous regime-switching DSGE framework for efficient estimation and improved model fit.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Central bank research,
Credit and credit aggregates,
Financial stability,
Monetary policy
JEL Code(s):
E,
E5,
E52,
E58
Income Inequality in Canada
Staff Discussion Paper 2022-16
Sarah Burkinshaw,
Yaz Terajima,
Carolyn A. Wilkins
Data show that income inequality in Canada increased substantially during the 1980s and first half of the 1990s but has been relatively stable over the past 25 years. This increase was felt mainly by low-income earners and younger people, while older people benefited from higher retirement income.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Central bank research,
Labour markets,
Monetary and financial indicators
JEL Code(s):
D,
D3,
D31,
D6,
D63,
I,
I2,
I24,
I3,
I32,
J,
J3,
J31,
J32,
N,
N3,
N32
How Do People View Price and Wage Inflation?
Staff Working Paper 2022-34
Monica Jain,
Olena Kostyshyna,
Xu Zhang
This paper examines household-level data from the Canadian Survey of Consumer Expectations (CSCE) to understand households’ expectations about price and wage inflation, how those expectations link to views about labour market conditions and the subsequent impact on households’ outlook for real spending growth.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Inflation and prices,
Monetary policy communications
JEL Code(s):
C,
C8,
C83,
D,
D8,
D84,
E,
E2,
E21,
E24,
E3,
E31
Comparison of Bayesian and Sample Theory Parametric and Semiparametric Binary Response Models
Staff Working Paper 2022-31
Xiangjin Shen,
Iskander Karibzhanov,
Hiroki Tsurumi,
Shiliang Li
We use graphic processing unit computing to compare Bayesian and sample theory semiparametric binary response models. Our findings show that optimal bandwidth does not outperform regular bandwidth in binary semiparametric models.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Credit risk management,
Econometric and statistical methods
JEL Code(s):
C,
C1,
C14,
C3,
C35,
C5,
C51,
C6,
C63,
D,
D1
The Business Leaders’ Pulse—An Online Business Survey
Staff Discussion Paper 2022-14
Tony Chernis,
Chris D'Souza,
Kevin MacLean,
Tasha Reader,
Joshua Slive,
Farrukh Suvankulov
This paper introduces the Business Leaders’ Pulse, a new online survey conducted each month. It is designed to provide timely and flexible input into the Bank of Canada’s monetary policy decision making by asking firms about their sales and employment growth expectations, the risks to their business outlook, and topical questions that address specific information needs of the Bank.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Monetary policy and uncertainty,
Recent economic and financial developments
JEL Code(s):
C,
C8,
C83,
D,
D2,
D22,
E,
E3,
E32
Unregulated Lending, Mortgage Regulations and Monetary Policy
Staff Working Paper 2022-28
Ugochi Emenogu,
Brian Peterson
This paper evaluates the effectiveness of macroprudential policies when regulations are uneven across mortgage lender types. We look at credit tightening that results from macroprudential regulations and examine how much of it is counteracted by credit shifting to unregulated lenders. We also study the impact of monetary policy tightening when some lenders are unregulated.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions,
Financial system regulation and policies,
Monetary policy transmission
JEL Code(s):
E,
E4,
E44,
E5,
E50,
E52,
E58,
G,
G2,
G21,
G23,
G28
Analyzing the house price boom in the suburbs of Canada’s major cities during the pandemic
Staff Analytical Note 2022-7
Louis Morel
We assess how location affects house prices in Canada. The gap in prices between suburbs and downtown was closing gradually before the pandemic. The gap has been closing faster since spring 2020. This finding reflects a shift in preferences toward more living space.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Asset pricing,
Coronavirus disease (COVID-19),
Financial stability,
Housing
JEL Code(s):
R,
R2,
R21,
R23,
R3,
R32