August 22, 2024 Quarterly Financial Report - Second Quarter 2024 Quarterly Financial Report - Second Quarter 2024 - For the period ended June 30, 2024, unaudited Content Type(s): Publications, Quarterly Financial Report
Portfolio Rebalancing Channel and the Effects of Large-Scale Stock and Bond Purchases Staff working paper 2025-38 Sami Alpanda, Serdar Kabaca We quantify the effects of large-scale stock purchases by a central bank and compare these to bond purchases. We find that the central bank’s equity purchases would lower the risk and term premiums on stocks and long-term bonds, respectively, and thereby stimulate economic activity. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E3, E32, E4, E44, E5, E52 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Real economy and forecasting
Digitalization: Labour Markets Staff discussion paper 2023-16 Alex Chernoff, Gabriela Galassi In this paper, the authors assess the relationship between digitalization and labour demand and supply, and how this relationship affects wages and income inequality. We also explore implications of recent digitalization trends for the future of work. Content Type(s): Staff research, Staff discussion papers JEL Code(s): I, I2, I23, J, J2, J23, J24, O, O3, O33 Research Theme(s): Structural challenges, Demographics and labour supply, Digitalization and productivity
Potential output and the neutral rate in Canada: 2021 update Staff analytical note 2021-6 Dany Brouillette, Guyllaume Faucher, Martin Kuncl, Austin McWhirter, Youngmin Park We expect potential output growth to be higher than in the October 2020 reassessment. By 2024, growth will be slightly above its average growth from 2010 to 2019. We assess that the Canadian nominal neutral rate continues to lie in the range of 1.75 to 2.75 percent. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E2, E23, E24, E3, E37, E4, E43, E5, E52 Research Theme(s): Monetary policy, Monetary policy framework and transmission, Real economy and forecasting
November 27, 1997 Final report on wartime gold transactions released Media Relations The Bank of Canada today released a report by Professor Duncan McDowall of Carleton University entitled Due Diligence: A report on the Bank of Canada's handling of foreign gold during World War II. Content Type(s): Press, Press releases
November 11, 2009 Declining Inflation Persistence in Canada: Causes and Consequences Bank of Canada Review - Winter 2009-2010 Rhys R. Mendes, Stephen Murchison The persistence of both core and total consumer price index inflation in Canada has declined significantly since the 1980s. In addition to providing up-to-date estimates of inflation persistence, this article examines possible reasons for the decline suggested in the literature. The role played by monetary policy, through its effect on price- and wage-setting behaviour, is distinguished from possible changes to the structure of the economy that are independent of monetary policy. The authors also discuss the implications for monetary policy of low structural persistence in inflation, including the choice of an inflation-targeting regime versus a price-level-targeting regime. Content Type(s): Publications, Bank of Canada Review articles
October 24, 2016 Renewal of the Inflation-Control Target (October 2016) Commentary and technical data relating to the 2016 target renewal. Content Type(s): Background materials
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 JEL Code(s): D, D3, D31, D6, D63, I, I2, I24, I3, I32, J, J3, J31, J32, N, N3, N32 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply
Firm-level Investment Under Imperfect Capital Markets in Ukraine Staff working paper 2019-14 Oleksandr Shcherbakov This paper develops and estimates a model of firm-level fixed capital investment when firms face borrowing constraints. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C6, C61, C63, D, D2, D24, G, G3, G31 Research Theme(s): Financial system, Household and business credit, Models and tools, Econometric, statistical and computational methods, Economic models
The (Un)Demand for Money in Canada Staff working paper 2018-20 Casey Jones, Geoffrey R. Dunbar A novel dataset from the Bank of Canada is used to estimate the deposit functions for banknotes in Canada for three denominations: $1,000, $100 and $50. The broad flavour of the empirical findings is that denominations are different monies, and the structural estimates identify the underlying sources of the non-neutrality. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C3, C31, C36, E, E4, E41 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Money and payments, Cash and bank notes