June 18, 2020
Regional economic developments
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May 16, 2019
Release of the Financial System Review
Press conference following the release of the Financial System Review. -
Labor Mobility in a Monetary Union
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
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
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. -
June 7, 2018
Release of the Financial System Review
Press conference following the release of the Financial System Review. -
November 28, 2017
Release of the Financial System Review
Press conference following the release of the Financial System Review. -
The Causal Impact of Migration on US Trade: Evidence from Political Refugees
Immigrants can increase international trade by shifting preferences towards the goods of their country of origin and by reducing bilateral transaction costs. Using geographical variation across U.S. states for the period 2008 to 2013, I estimate the respective causal impact of immigrants on U.S. exports and imports. -
September 27, 2017
The Meaning of “Data Dependence”: An Economic Progress Report
Governor Stephen S. Poloz discusses how unknowns in Canada’s inflation outlook have made the Bank’s monetary policy particularly data dependent. -
What’s Up with Unit Non-Response in the Bank of Canada’s Business Outlook Survey? The Effect of Staff Tenure
Since 1997, the Bank of Canada’s regional offices have been conducting the Business Outlook Survey (BOS), a quarterly survey of business conditions. Survey responses are gathered through face-to-face, confidential consultations with a sample of private sector firms representative of the various sectors, firm sizes and regions across Canada.