May 11, 2017 Bank of Canada Review - Spring 2017 Some suggest the global economy is facing a fourth industrial revolution. Bank researchers discuss the possible implications of digitalization on the economy. This issue also shares insights on the effectiveness of some unconventional monetary policies in a small open economy, how Government of Canada bonds are used throughout their life cycle, as well as how the Big Six Canadian banks choose their funding strategies and why. The final article examines the slow growth in business investment. Content Type(s): Publications, Bank of Canada Review
Cash, COVID-19 and the Prospects for a Canadian Digital Dollar Staff Discussion Paper 2022-17 Walter Engert, Kim Huynh We provide an analysis of cash trends in Canada before and during the COVID-19 pandemic. We also consider the potential two scenarios for issuance of a central bank digital currency in Canada: the emergence of a cashless society or the widespread use of an alternative digital currency in Canada. Finally, we discuss the Canadian experience in maintaining cash as an efficient and accessible method of payment and store of value. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Bank notes, Central bank research, Coronavirus disease (COVID-19), Digital currencies and fintech, Econometric and statistical methods JEL Code(s): C, C1, C12, C9, E, E4, O, O5, O54
Inflation and Relative Price Dispersion in Canada: An Empirical Assessment Staff Working Paper 2005-28 André Binette, Sylvain Martel The authors investigate empirically the relationship between different aspects of inflation and relative price dispersion in Canada using a Markov regime-switching Phillips curve. Content Type(s): Staff research, Staff working papers Research Topic(s): Inflation and prices JEL Code(s): C, C3, C32, E, E3, E31
Filtering for Current Analysis Staff Working Paper 2002-28 Simon van Norden This paper shows how existing band-pass filtering techniques and their extension can be applied to the common current-analysis problem of estimating current trends or cycles. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Potential output JEL Code(s): C, C1
Exporting and FDI with Endogenous Productivity Staff Working Paper 2007-14 Oana Secrieru, Marianne Vigneault This paper provides an analysis of how a firm’s decision to serve a foreign market by exporting or by engaging in foreign direct investment (FDI) affects firm productivity, when productivity is endogeneous as a function of training. The main result of our paper is that, with endogeneous productivity, exporting results in lower productivity than does FDI, but exporting may result in higher or lower employment and output than does FDI. Content Type(s): Staff research, Staff working papers Research Topic(s): International topics, Labour markets, Productivity JEL Code(s): F, F2, F22, F23
How Fast Can China Grow? The Middle Kingdom’s Prospects to 2030 Staff Working Paper 2016-15 Jeannine Bailliu, Mark Kruger, Argyn Toktamyssov, Wheaton Welbourn Given its size and importance for global commodity markets, the question of how fast the Chinese economy can grow over the medium term is an important one. This paper addresses this question by examining the evolution of the supply side of the Chinese economy over history and projecting how it will evolve over the next 15 years. Content Type(s): Staff research, Staff working papers Research Topic(s): Development economics, International topics, Potential output, Productivity JEL Code(s): E, E2, E22, E23, E3, E32, O4
November 18, 2014 Inflation Targeting in the Post-Crisis Era Remarks Agathe Côté Calgary CFA Society Calgary, Alberta Deputy Governor Agathe Côté discusses the inflation-targeting framework and issues the Bank is researching in the run-up to the renewal of the framework in 2016. Content Type(s): Press, Speeches and appearances, Remarks
Structural Change and Forecasting Long-Run Energy Prices Staff Working Paper 2004-5 Jean-Thomas Bernard, Lynda Khalaf, Maral Kichian The authors test the statistical significance of Pindyck's (1999) suggested class of econometric equations that model the behaviour of long-run real energy prices. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods JEL Code(s): C, C2, C22, C5, C52, C53, Q, Q4, Q40
Housing and Tax Policy Staff Working Paper 2013-33 Sami Alpanda, Sarah Zubairy In this paper, we investigate the effects of housing-related tax policy measures on macroeconomic aggregates using a dynamic general-equilibrium model. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Fiscal policy, Housing JEL Code(s): E, E6, E62, H, H2, H24, R, R3, R38
Demographics and the Demand for Currency Staff Working Paper 2014-59 Geoffrey R. Dunbar I use data from the Bank of Canada’s Bank Note Distribution System and exploit a natural experiment offered by the timing of Easter in the Gregorian calendar to analyze the effects of demographic change for currency demand. Content Type(s): Staff research, Staff working papers Research Topic(s): Bank notes, Econometric and statistical methods JEL Code(s): C, C3, C31, C36, E, E4, E41