Firm dynamics
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Adoption of Digital Technologies: Insights from a Global Survey Initiative
Firms are at the forefront of adopting new technology. Using survey data from a global network of central banks, we assess the effects of digitalization on firms’ pricing and employment decisions. -
Labor Demand Response to Labor Supply Incentives: Lessons from the German Mini-Job Reform
How do firms change their employment decisions when tax benefits for low-earning workers are expanded? Some firms increase employment overall, whereas others replace high-earning workers with low-earning workers, according to German linked employer-employee data. -
A Reference Guide for the Business Outlook Survey
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. -
November 12, 2020
Helping the economy after the COVID‑19 pandemic
The pandemic won’t last forever. Senior Deputy Governor Carolyn A. Wilkins talks about what the economy will need once we’re past the COVID-19 crisis. -
November 12, 2020
Exploring life after COVID-19: the far side of the moon
Senior Deputy Governor Carolyn A. Wilkins discusses what the economy will need once we’re past the COVID-19 crisis. -
Corporate investment and monetary policy transmission in Canada
Unexpected changes in interest rates lead small firms to materially change their investment rate. Large firms, in contrast, show a smaller response. This suggests both that financial conditions are an important channel for transmitting monetary policy and that firm characteristics can help us better understand fluctuations in business investment. -
The Canadian corporate investment gap
Business investment has been lower than expected in Canada and abroad since the financial crisis of 2007–09. This corporate investment gap is mirrored in firms’ other financing decisions, as they have increased cash holdings and dividend payments and decreased issuance of debt and equity. -
June 18, 2020
Spending patterns in a pandemic
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
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.