Firm Heterogeneity, Technological Adoption, and Urbanization: Theory and Measurement Staff working paper 2017-27 Alex Chernoff This paper develops a model of firm heterogeneity, technological adoption, and urbanization. In the model, welfare is measured by household real income, and urbanization is measured by population density. I use the model to derive statistics that measure the effect of a new technology on productivity, welfare, and urbanization. Content Type(s): Staff research, Staff working papers JEL Code(s): N, N6, N61, O, O1, O14, R, R1, R13 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Digitalization and productivity
Quantitative Easing and Long‐Term Yields in Small Open Economies Staff working paper 2017-26 Antonio Diez de los Rios, Maral Shamloo We compare the Federal Reserve’s asset purchase programs with those implemented by the Bank of England and the Swedish Riksbank, and the Swiss National Bank’s reserve expansion program. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E4, E43, E5, E52, E58, G, G1, G12 Research Theme(s): Financial markets and funds management, Market functioning, Models and tools, Economic models, Monetary policy, Monetary policy tools and implementation, Structural challenges, International trade, finance and competitiveness
July 19, 2017 Bank of Canada recognizes RCMP’s Integrated Counterfeit Enforcement Team with Award of Excellence for Counterfeit Deterrence Media Relations Montréal, Quebec The Bank of Canada today presented the Royal Canadian Mounted Police’s Integrated Counterfeit Enforcement Team (ICET), C Division (Quebec), with the 2017 Law Enforcement Award of Excellence for Counterfeit Deterrence. Content Type(s): Press, Press releases
July 14, 2017 Weekly Financial Statistics - 14 July 2017 Content Type(s): Publications, Historical: Weekly Financial Statistics
Monetary Policy Implementation in a Negative Rate Environment Staff working paper 2017-25 Michael Boutros, Jonathan Witmer Monetary policy implementation could, in theory, be constrained by deeply negative rates since overnight market participants may have an incentive to invest in cash rather than lend to other participants. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E4, E40, E42, E43, G, G0 Research Theme(s): Monetary policy, Monetary policy tools and implementation
July 12, 2017 Monetary Policy Report Press Conference Opening Statement Opening statement Stephen S. Poloz, Carolyn A. Wilkins Ottawa, Ontario Governor Stephen S. Poloz discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR. Content Type(s): Press, Speeches and appearances, Opening statements Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
July 12, 2017 Bank of Canada increases overnight rate target to 3/4 per cent Media Relations Ottawa, Ontario The Bank of Canada is raising its target for the overnight rate to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent. Content Type(s): Press, Press releases