Breaking Down the US Employment Multiplier Using Micro-Level Data Staff Working Paper 2025-8 Edoardo Briganti, Holt Dwyer, Ricardo Duque Gabriel, Victor Sellemi Using newly matched data on US defense contracts and restricted administrative employment data, we show that the employment effects of defense procurement are costly, concentrated and slow to diffuse. Content Type(s): Staff research, Staff working papers Research Topic(s): Fiscal policy JEL Code(s): E, E6, E62, H, H5, H57, J, J2, J21
Markups, Pass-Through, and Firm Heterogeneity with Sequentially Mixed Search Staff Working Paper 2025-7 Alex Chernoff, Allen Head, Beverly Lapham Market power and pass-through of cost and demand shocks are studied in a market with free entry of heterogeneous firms and consumer mixed search. Equilibrium prices and markups are driven by variation in the elasticity of demand across firms. Improved conditions for buyers can either raise or lower market power. Content Type(s): Staff research, Staff working papers Research Topic(s): Inflation and prices, Service sector JEL Code(s): D, D2, D21, D4, D43, E, E3, E31, L, L1, L11
February 13, 2025 Procurement Policy Statement The Bank of Canada requires that its resources be used effectively and efficiently to obtain appropriate value for money.
February 12, 2025 Release of the Bank of Canada’s summary of deliberations On Wednesday, February 12, 2025, the Bank of Canada will publish a summary of the deliberations that took place ahead of its interest rate decision on January 29, 2025. Content Type(s): Press, Media advisories
February 12, 2025 Summary of Governing Council deliberations: Fixed announcement date of January 29, 2025 This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on January 29, 2025. Content Type(s): Publications, Summary of deliberations
February 11, 2025 Bank of Canada announces appointment of second external Deputy Governor Media Relations Ottawa, Ontario The Board of Directors of the Bank of Canada today announced the appointment of Michelle Alexopoulos as an external Deputy Governor for a term of two years, effective March 17, 2025. Content Type(s): Press, Press releases
February 11, 2025 Governing Council and Senior Management The Governing Council is the policy-making body of the Bank. It consists of the Governor, Senior Deputy Governor, and four Deputy Governors. It is responsible for monetary policy, decisions aimed at promoting a sound and stable financial system, and the strategic direction of the Bank.