Downward Nominal Wage Rigidity, Inflation and Unemployment: New Evidence Using Micro‐Level Data Staff analytical note 2017-6 Dany Brouillette, Natalia Kyui Recent evidence suggests that the extent of downward nominal wage rigidity (DNWR) in the Canadian labour market has risen following the 2008–09 recession (see Brouillette, Kostyshyna and Kyui 2016). Content Type(s): Staff research, Staff analytical notes Research Topic(s): Econometric and statistical methods, Inflation and prices, Labour markets JEL Code(s): E, E2, E24, E3, E31, J, J3, J30 Research Theme(s): Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures, Real economy and forecasting, Structural challenges, Demographics and labour supply
Should Central Banks Worry About Nonlinearities of their Large-Scale Macroeconomic Models? Staff working paper 2017-21 Vadym Lepetyuk, Lilia Maliar, Serguei Maliar How wrong could policymakers be when using linearized solutions to their macroeconomic models instead of nonlinear global solutions? Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Econometric and statistical methods, Economic models JEL Code(s): C, C6, C61, C63, C68, E, E3, E31, E5, E52 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Economic models, Monetary policy, Monetary policy framework and transmission
June 1, 2017 Bank of Canada issues commemorative $10 bank note to mark the 150th anniversary of Confederation Media Relations Ottawa, Ontario The Bank of Canada today began circulating the $10 commemorative bank note that celebrates the 150th anniversary of Confederation. Canadians can now obtain this special note at financial institutions. Only 40 million notes are being issued—roughly one for every Canadian. Content Type(s): Press, Press releases
May 31, 2017 Research Update - May 2017 This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. Content Type(s): Staff research, Research newsletters
May 30, 2017 Quarterly Financial Report - First Quarter 2017 Quarterly Financial Report - First Quarter 2017 - For the period ended 31 March 2017 Content Type(s): Publications, Quarterly Financial Report
May 30, 2017 Governor’s Award nominations Find out the eligibility and process for Governor’s Award nominations.
May 30, 2017 Fellowship Award nominations Find out the eligibility and process for Fellowship Award nominations.
Volatility Risk and Economic Welfare Staff working paper 2017-20 Shaofeng Xu This paper examines the effects of time-varying volatility on welfare. I construct a tractable endogenous growth model with recursive preferences, stochastic volatility, and capital adjustment costs. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Economic models JEL Code(s): E, E2, E3 Research Theme(s): Financial markets and funds management, Market functioning, Models and tools, Economic models, Monetary policy, Real economy and forecasting