September 15, 2008 The Effects of Recent Relative Price Movements on the Canadian Economy Bank of Canada Review - Autumn 2008 David Dupuis, Philippe Marcil Although the standard of living of Canadians has improved as a result of terms-of-trade gains created by the sharp rise in real commodity prices over the past five years or so, the commodity-price increase, combined with an exchange rate appreciation and real income gain, triggered structural adjustments by altering underlying economic incentives. The frictions generated in adjusting to the relative price shock have likely contributed to hold back aggregate productivity growth. Dupuis and Marcil examine the structural adjustments that have been required-in particular, the resource reallocation among the different sectors of the economy-and its effects on employment, output, and productivity, as well as the responses of final domestic demand and external trade flows. Content Type(s): Publications, Bank of Canada Review articles Research Topic(s): Productivity, Recent economic and financial developments
September 5, 2003 Spruce Meadows Roundtable Remarks David Dodge Spruce Meadows Roundtable Spruce Meadows, Alberta Canada's reliance on foreign trade has required us to be active internationalists for decades. Louis Rasminsky, who went on to become Governor of the Bank of Canada, was one of Canada's delegates at the Bretton Woods Conference that led to the creation of the International Monetary Fund (IMF) and the World Bank. Rasminsky played an important role, formal and informal, at the talks. Content Type(s): Press, Speeches and appearances, Remarks
August 24, 2011 The Role of the G-20 in Sustaining the Recovery and Protecting Financial Stability Remarks Tiff Macklem Federation of Indian Chambers of Commerce and Industry (FICCI) and Indian Banks’ Association (IBA) Mumbai, India In his speech, Senior Deputy Governor Tiff Macklem discusses the G-20 reform agenda to achieve durable financial stability and sustainable and balanced economic growth. Content Type(s): Press, Speeches and appearances, Remarks
May 24, 2017 Digital currencies and fintech: projects We are working on several technical projects designed to help us prepare for the future of money and payments.
April 2017 Annual Reassessment of Potential Output Growth in Canada Staff Analytical Note 2017-5 Andrew Agopsowicz, Bassirou Gueye, Natalia Kyui, Youngmin Park, Mohanad Salameh, Ben Tomlin This note summarizes the Bank of Canada’s annual reassessment of potential output growth, conducted for the April 2017 Monetary Policy Report. Potential output growth is projected to increase from 1.3 per cent in 2017 to 1.6 per cent by 2020. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Labour markets, Potential output, Productivity JEL Code(s): E, E0, E00, E2, E22, E23, E24, E3, E37, E6
April 14, 2005 Monetary Policy Report – April 2005 The global economy has been unfolding largely as expected, and prospects for continued robust growth are quite favourable, especially over the near term. Content Type(s): Publications, Monetary Policy Report
Cryptoasset Ownership and Use in Canada: An Update for 2022 Staff Discussion Paper 2023-14 Daniela Balutel, Christopher Henry, Doina Rusu We find that Bitcoin ownership declined from 13% in 2021 to 10% in 2022. This drop occurred against a background of steep price declines and an increasingly tight regulatory atmosphere. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods JEL Code(s): C, C8, C81, E, E4, O, O5, O51
February 1, 2012 Developments and Issues in the Canadian Market for Asset-Backed Commercial Paper Financial System Review - June 2003 Paula Toovey, John Kiff Content Type(s): Publications, Financial System Review articles
Extending the Labour Market Indicator to the Canadian Provinces Staff Discussion Paper 2016-2 Alexander Fritsche, Katherine Ragan Calculating the labour market indicator (LMI) at the provincial level provides useful insights into Canada’s regional economies and reveals differing trends in the state of underlying labour market conditions across provinces. Conclusions based on the Canadian LMI do not necessarily translate to the provinces. In most cases, the correlations between the provincial LMIs and the underlying labour market variables have the expected sign. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Labour markets, Recent economic and financial developments JEL Code(s): E, E2, E24, E27, J, J2, J21, J23
Risk-Free Uncollateralized Lending in Decentralized Markets: An Introduction to Flash Loans Staff Discussion Paper 2025-6 Jack Mandin A flash loan is a special type of uncollateralized loan with zero default risk. I document the use for flash loans across major blockchains that are Ethereum-Virtual-Machine-compatible. Flash loans expand access to liquidity, and highly sophisticated actors use them for many practical applications. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Digital currencies and fintech, Financial markets JEL Code(s): G, G0, G1, G2