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October 25, 2023

Press Conference: Monetary Policy Report – October 2023

Release of the Monetary Policy Report — Press conference by Governor Tiff Macklem and Carolyn Rogers, Senior Deputy Governor (11:00 (ET) approx.).

Identifying Nascent High-Growth Firms Using Machine Learning

Staff Working Paper 2023-53 Stephanie Houle, Ryan Macdonald
Firms that grow rapidly have the potential to usher in new innovations, products or processes (Kogan et al. 2017), become superstar firms (Haltiwanger et al. 2013) and impact the aggregate labour share (Autor et al. 2020; De Loecker et al. 2020). We explore the use of supervised machine learning techniques to identify a population of nascent high-growth firms using Canadian administrative firm-level data.
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