November 7, 2023 2023 Annual Bank of Canada Economic Conference Conference held on November 7 and 8, 2023. Content Type(s): Conferences and workshops
November 6, 2023 Market Participants Survey—Third Quarter of 2023 The Market Participants Survey results are based on questionnaire responses from about 30 financial market participants. Content Type(s): Publications, Market Participants Survey
November 1, 2023 Opening Statement before the Standing Senate Committee on Banking, Commerce and the Economy Opening statement Tiff Macklem Standing Senate Committee on Banking, Commerce and the Economy Ottawa, Ontario Content Type(s): Press, Speeches and appearances, Opening statements
International Portfolio Rebalancing and Fiscal Policy Spillovers Staff working paper 2023-56 Sami Alpanda, Uluc Aysun, Serdar Kabaca We evaluate, both empirically and theoretically, the spillover effects that debt-financed fiscal policy interventions of the United States have on other economies. We consider a two-country model with international portfolio rebalancing effects. We show that US fiscal expansions would increase global long-term rates and hinder economic activity in the rest of the world. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E3, E32, E6, E62, F, F4, F41, F44 Research Theme(s): Financial markets and funds management, International markets and currencies, Financial system, Financial stability and systemic risk, Models and tools, Economic models, Structural challenges, International trade, finance and competitiveness
Digitalization: Prices of Goods and Services Staff discussion paper 2023-27 Vivian Chu, Tatjana Dahlhaus, Christopher Hajzler This paper outlines and assesses the various channels through which digitalization can affect prices of goods and services. Content Type(s): Staff research, Staff discussion papers JEL Code(s): D, D2, E, E3, E31, E5, E52, L, L1, L11 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Structural challenges, Digitalization and productivity
October 30, 2023 Opening Statement before the House of Commons Standing Committee on Finance Opening statement Tiff Macklem House of Commons Standing Committee on Finance Ottawa, Ontario Content Type(s): Press, Speeches and appearances, Opening statements
Machine learning for economics research: when, what and how Staff analytical note 2023-16 Ajit Desai This article reviews selected papers that use machine learning for economics research and policy analysis. Our review highlights when machine learning is used in economics, the commonly preferred models and how those models are used. Content Type(s): Staff research, Staff analytical notes JEL Code(s): A, A1, A10, B, B2, B23, C, C4, C45, C5, C55 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Structural challenges, Digitalization and productivity
The Heterogeneous Impacts of Job Displacement: Evidence from Canadian Job Separation Records Staff working paper 2023-55 Serdar Birinci, Youngmin Park, Kurt See When estimating earnings losses upon job separations, existing strategies focus on separations in mass layoffs to distinguish involuntary separations from voluntary separations. We revisit the measurement of the sources and consequences of involuntary job separations using Canadian job separation records. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E24, E3, E32, J, J3, J31, J6, J63, J65 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply