March 30, 2016
Regional economic developments
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Canadian Labour Market Dispersion: Mind the (Shrinking) Gap
Shocks to a currency area can and often do have asymmetric impacts on its regions that, in the absence of perfect labour mobility, lead to gaps in relative labour market performance. Witness, for example, the effects of the 2008/09 recession and subsequent financial crisis in Europe on the dispersion of employment rates across the euro area – and to a lesser extent the United States. -
New Housing Registrations as a Leading Indicator of the BC Economy
Housing starts and building permits data are commonly used as leading indicators of economic activity. In British Columbia, all new homes must be registered with the Homeowner Protection Office, a branch of BC Housing, before the issuance of building permits and the start of construction. -
January 20, 2016
Monetary Policy Report Press Conference Opening Statement
Governor Stephen S. Poloz discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR. -
December 15, 2015
Release of the Financial System Review
Press conference following the release of the Financial System Review. -
October 21, 2015
Release of the Monetary Policy Report
Press conference following the release of the Monetary Policy Report. -
July 15, 2015
Release of the Monetary Policy Report
Press conference following the release of the Monetary Policy Report. -
June 11, 2015
Release of the Financial System Review
Press conference following the release of the Financial System Review. -
May 14, 2015
Inflation Dynamics in the Post-Crisis Period
Inflation rates in advanced economies experienced two consecutive puzzles during the period following the global financial crisis—unexpectedly high inflation from the end of 2009 to 2011 and unexpectedly low inflation from 2012 to the middle of 2014. We investigate these developments in two ways. First, we show that accounting for inflation expectations by households explains a significant share of the inflation puzzles at the international level. Second, we find that, for Canada, elevated competition in the retail sector is also important for understanding inflation dynamics in the post-crisis period. -
Changing Labour Market Participation Since the Great Recession: A Regional Perspective
This paper discusses broad trends in labour force participation and part-time employment across different age groups since the Great Recession and uses provincial data to identify changes related to population aging, cyclical effects and other factors.