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53 Results

The Bank of Canada COVID‑19 stringency index: measuring policy response across provinces

We construct an index that systematically measures and tracks the stringency of government policy responses to the COVID-19 pandemic across Canadian provinces. Researchers can use this stringency index to analyze how the pandemic is affecting the economy.

A Reference Guide for the Business Outlook Survey

Staff Discussion Paper 2020-15 David Amirault, Naveen Rai, Laurent Martin
The Business Outlook Survey (BOS) has become an important part of monetary policy deliberations at the Bank of Canada and is also well known in Canadian policy and financial circles. This paper compiles more than 20 years of experience conducting the BOS and serves as a comprehensive reference manual.
June 18, 2020

Spending patterns in a pandemic

Speech summary Lawrence L. Schembri Greater Saskatoon Chamber of Commerce Saskatoon, Saskatchewan
Deputy Governor Lawrence Schembri explains how household spending has changed because of COVID-19 and discusses why the Bank expects the recovery to have two phases.
June 18, 2020

Living with limits: household behaviour in Canada in the time of COVID-19

Remarks (delivered virtually) Lawrence L. Schembri Greater Saskatoon Chamber of Commerce Saskatoon, Saskatchewan
Deputy Governor Lawrence Schembri explains how the COVID-19 pandemic has affected household spending and economic activity, and discusses what the recovery is expected to look like.

Labor Mobility in a Monetary Union

Staff Working Paper 2019-15 Daniela Hauser, Martin Seneca
The optimal currency literature has stressed the importance of labor mobility as a precondition for the success of monetary unions. But only a few studies formally link labor mobility to macroeconomic adjustment and policy. In this paper, we study macroeconomic dynamics and optimal monetary policy in an economy with cyclical labor flows across two distinct regions that share trade links and a common monetary framework.
January 31, 2019

A Look Under the Hood of Canada’s Job Market

Remarks Carolyn A. Wilkins Toronto Region Board of Trade Toronto, Ontario
Senior Deputy Governor Carolyn A. Wilkins discusses developments in the Canadian labour market and factors that may help explain why wage growth is slower than expected.

The Propagation of Regional Shocks in Housing Markets: Evidence from Oil Price Shocks in Canada

Staff Working Paper 2018-56 Lutz Kilian, Xiaoqing Zhou
How do global oil price shocks spread through Canada’s economy? With Canada’s regionally diverse economy in mind, we explore the implications of oil price shocks for Canadian housing markets and regional economies. We show that the belief that oil price shocks only matter in oil-rich regions is false.