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 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
November 7, 2017 Understanding Inflation: Getting Back to Basics Remarks Stephen S. Poloz CFA Montréal and Montreal Council on Foreign Relations Montréal, Quebec Governor Stephen S. Poloz discusses how recent weak inflation in Canada and other economies can be explained by fundamental factors. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economic models, Economy/Economic growth, Inflation, Inflation targeting framework
October 24, 2001 The Canadian Economy: Current and Future Challenges Remarks David Dodge Greater Moncton Chamber of Commerce and the Conseil économique du Nouveau-Brunswick Moncton, New Brunswick All of us at the Bank of Canada share a deep sorrow at the loss of so many lives in the 11 September terrorist attacks in the United States. Among those who died were innocent citizens of many nationalities, including Canadians. To their families, friends, and colleagues we extend our heartfelt sympathy. Content Type(s): Press, Speeches and appearances, Remarks
May 30, 2012 Quarterly Financial Report - First Quarter 2012 Quarterly Financial Report - First Quarter, 2012 - For the period ended 31 March 2012 Content Type(s): Publications, Quarterly Financial Report
April 12, 2007 Dealing with Uncertainty in the Conduct of Monetary Policy Remarks Sheryl Kennedy Montréal CFA Society Montréal, Quebec The main goal of monetary policy is to help the country achieve strong, sustainable economic performance, and, in doing so, to contribute to rising living standards for Canadians. Experience has shown that the best way for a central bank to meet this goal, given the instruments at its disposal, is by keeping inflation low and stable. Low and stable inflation increases confidence in the future value of money, and allows for clear price signals. Content Type(s): Press, Speeches and appearances, Remarks
December 20, 2010 Strengthening the Infrastructure of Over-the-Counter Derivatives Markets Financial System Review - December 2010 Carolyn A. Wilkins, Elizabeth Woodman Content Type(s): Publications, Financial System Review articles
April 8, 2013 Business Outlook Survey - Spring 2013 Taken together, responses to the spring survey indicate that, following a recent slowing in economic activity, firms expect business conditions to remain challenging over the next 12 months. Content Type(s): Publications, Business Outlook Survey
The Impacts of Minimum Wage Increases on the Canadian Economy Staff analytical note 2017-26 Dany Brouillette, Daniel Gao, Olivier Gervais, Calista Cheung This note reviews the channels through which scheduled minimum wage increases over the coming years may affect Canadian economic activity and inflation and assesses their macroeconomic impacts. From reduced-form estimates of direct minimum wage pass-through, we find that consumer price index (CPI) inflation could be boosted by about 0.1 percentage point (pp) on average in 2018. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E2, E24, J, J2, J21, J22, J23 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Real economy and forecasting
January 13, 2014 Business Outlook Survey - Winter 2013-14 The winter Business Outlook Survey provides some positive signs for the economic outlook, notably for exports and investment, although responses do not yet appear to suggest a significant strengthening. For many businesses, weak demand and domestic uncertainty continue to temper sales expectations and expansion plans. Content Type(s): Publications, Business Outlook Survey
Labour Supply and Firm Size Staff working paper 2023-47 Lin Shao, Faisal Sohail, Emircan Yurdagul This paper documents a systematic pattern of how wages, hours and their relationship vary across firms of different sizes. Using a model with heterogeneous firms and workers, we show how the interplay between wages, hours and firm size affect worker sorting and inequality. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E24, J, J2, J3, J31 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply