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.
220
result(s)
Can the characteristics of new mortgages predict borrowers’ financial stress? Insights from the 2014 oil price decline
Staff Analytical Note 2021-22
Olga Bilyk,
Ken Chow,
Yang Xu
We study the relationship between characteristics of new mortgages and borrowers’ financial stress in Canada’s energy-intensive regions following the 2014 collapse in oil prices. We find that borrowers with limited home equity were more likely to have difficulty repaying debt.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Credit and credit aggregates,
Econometric and statistical methods,
Financial stability,
Housing
JEL Code(s):
C,
C2,
C25,
D,
D1,
D14,
G,
G2,
G21,
G5,
G51,
R,
R2,
R21
Canadian housing supply elasticities
Staff Analytical Note 2021-21
Nuno Paixao
We explain how housing supply elasticities for Canadian cities are estimated. The procedure we use exploits the systematic differences in various cities’ sensitivity to regional house-price cycles.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Housing
JEL Code(s):
R,
R1,
R14,
R3,
R31,
R5,
R52
Reaching for yield or resiliency? Explaining the shift in Canadian pension plan portfolios
Staff Analytical Note 2021-20
Sébastien Betermier,
Nicholas Byrne,
Jean-Sébastien Fontaine,
Hayden Ford,
Jason Ho,
Chelsea Mitchell
“Reach for yield”—This is the commonly heard explanation for why pension plans shift their portfolios toward alternative assets. But we show that the new portfolios also hold more bonds, offer lower average returns and produce smaller and less volatile solvency deficits. These shifts are part of a broader strategy to reduce solvency risk.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Financial institutions,
Financial markets,
Financial system regulation and policies
JEL Code(s):
G,
G1,
G11
Household financial vulnerabilities and physical climate risks
Staff Analytical Note 2021-19
Thibaut Duprey,
Colin Jones,
Callie Symmers,
Geneviève Vallée
Natural disasters occur more often than before, potentially exposing households to financial distress. We study the intersection between household financial vulnerabilities and severe weather events.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Climate change,
Credit and credit aggregates,
Financial stability,
Housing,
Recent economic and financial developments
JEL Code(s):
C,
C2,
C21,
C3,
C38,
D,
D1,
D14,
Q,
Q5,
Q54
Canadian job postings in digital sectors during COVID-19
Staff Analytical Note 2021-18
Alejandra Bellatin,
Gabriela Galassi
Digital technologies have helped maintain economic activity while allowing people to remain physically distant throughout the COVID-19 crisis. This note shows that the number of online postings for jobs related to the production of digital technologies in Canada decreased less than the number for other jobs and recovered more quickly after lockdowns were lifted.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Coronavirus disease (COVID-19),
Labour markets
JEL Code(s):
E,
E2,
E24,
J,
J2,
J23,
J6,
J63,
J64,
O,
O3,
O33
The uneven economic consequences of COVID 19: A structural analysis
Staff Analytical Note 2021-17
Martin Kuncl,
Austin McWhirter,
Alexander Ueberfeldt
Using a structural model, we study the economic consequences of the COVID-19 shock. The uneven consequences, such as higher unemployment among young households, amplify the negative implications for the macroeconomy, household vulnerabilities and consumption inequality. Government support programs have stimulated the economy and lowered inequality and medium-term vulnerabilities.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Coronavirus disease (COVID-19),
Fiscal policy,
Monetary policy
JEL Code(s):
E,
E2,
E20,
E5,
E52,
E6,
E62
Exploring the potential benefits of inflation overshooting
Staff Analytical Note 2021-16
Robert Amano,
Marc-André Gosselin,
Kurt See
After a period with the interest rate at the effective lower bound, temporarily overshooting inflation may offer important economic benefits. This may be especially true for vulnerable segments of the population, such as workers with low attachment to the labour force and the long-term unemployed.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Inflation targets,
Labour markets,
Monetary policy,
Monetary policy framework
JEL Code(s):
E,
E3,
E31,
E5,
E52,
J,
J2,
J20
BoC–BoE Sovereign Default Database: What’s new in 2021?
Staff Analytical Note 2021-15
David Beers,
Elliot Jones,
Zacharie Quiviger,
John Walsh
The BoC–BoE database of sovereign debt defaults, published and updated annually by the Bank of Canada and the Bank of England, provides comprehensive estimates of stocks of government obligations in default.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Debt management,
Development economics,
Financial stability,
International financial markets
JEL Code(s):
F,
F3,
F34,
G,
G1,
G10,
G14,
G15
Small and smaller: How the economic outlook of small firms relates to size
Staff Analytical Note 2021-14
Chris D'Souza,
James Fudurich,
Farrukh Suvankulov
Firms with fewer than 100 workers employ about 65 percent of the total labour force in Canada. An online survey experiment was conducted with firms of this size in Canada in 2018–19. We compare the responses of small and micro firms to explore how their characteristics and economic outlooks relate to their size.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Business fluctuations and cycles,
Firm dynamics
JEL Code(s):
C,
C8,
C83,
D,
D2,
D22,
E,
E3,
E32