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  1. Assessing labour market slack for monetary policy
    Autor*in: Ens, Erik; Savoie-Chabot, Laurence; See, Kurt; Wee, Shu Lin
    Erschienen: [2021]
    Verlag:  Bank of Canada, Ottawa, Ontario, Canada

    The large and uneven impact of COVID-19 has emphasized the complexity and diversity of the labour market. This complexity implies that traditional headline measures may be inadequate at providing a comprehensive picture of labour market health. We... mehr

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 201
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    keine Fernleihe

     

    The large and uneven impact of COVID-19 has emphasized the complexity and diversity of the labour market. This complexity implies that traditional headline measures may be inadequate at providing a comprehensive picture of labour market health. We address this concern in two ways. First, we construct a summary indicator of the labour market and use it to evaluate the level of disagreement between various labour market measures. Our exercise reveals that the COVID-19 shock has heightened the degree of disagreement between different indicators. The unprecedented level of disagreement across individual measures implies that a single measure cannot fully account for differences in labour market slack across various groups, or for the quality of job gains. Second, we propose a comprehensive framework to assess the labour market recovery along three dimensions, all of which capture different elements of slack: overall labour market conditions, labour market inclusiveness and job characteristics. As an example of how to apply this approach, we identify areas of concern in the ongoing recovery of the Canadian labour market.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/251028
    Schriftenreihe: Staff discussion paper / Bank of Canada ; 2021, 15
    Schlagworte: Business fluctuations and cycles; Coronavirus disease (COVID-19); Econometric andstatistical methods; Labour markets; Monetary policy
    Umfang: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  2. Transition scenarios for analyzing climate-related financial risk
    Autor*in: Chen, Henry; Ens, Erik; Gervais, Olivier; Hosseini, Hossein; Johnston, Craig; Kabaca, Serdar; Molico, Miguel; Paltsev, Sergey V.; Proulx, Alex; Toktamyssov, Argyn
    Erschienen: [2022]
    Verlag:  Bank of Canada, Ottawa, Ontario, Canada

    In November 2020, the Bank of Canada launched a pilot project with the Office of the Superintendent of Financial Institutions aimed at better understanding risks to the economy and the financial system related to climate change. Part of this work... mehr

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 201
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    keine Fernleihe

     

    In November 2020, the Bank of Canada launched a pilot project with the Office of the Superintendent of Financial Institutions aimed at better understanding risks to the economy and the financial system related to climate change. Part of this work included developing a set of Canada-relevant climate transition scenarios that explore pathways consistent with achieving certain climate targets. The scenarios vary in terms of two key drivers of climate transition risk: (i) the ambition and timing of climate policy and (ii) the pace of technological change and availability of advanced technologies. To develop the scenarios, we used a suite-of-models approach that linked a computable general equilibrium energy-economy model with two macroeconomic models. The scenarios focus on Canada and the United States because of the material exposure of the Canadian financial sector to these regions. They capture the evolution of the global economy, summarized across 10 emissions-intensive sectors of the economy and across 8 distinct regions of the world. The analysis illustrated the important sectoral restructuring the Canadian and global economies may need to undertake to meet climate targets. The analysis showed that every sector contributes to the transition and that the financial impacts vary across sectors. These impacts depend on how the sectors are impacted by emissions and capital expenditures costs and on how the demand for their products is affected by the decarbonization of economies. The scenarios also shed light on the risks of significant macroeconomic impacts, in particular for commodity-exporting countries like Canada. The economic impacts for Canada are driven mostly by declines in global prices of commodities rather than by domestic policy decisions. Finally, the analysis showed that delaying climate policy action increases the overall economic impacts and risks to financial stability

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/251031
    Schriftenreihe: Staff discussion paper / Bank of Canada ; 2022, 1
    Schlagworte: Climate change; Economic models; Financial stability; International topics
    Umfang: 1 Online-Ressource (circa 43 Seiten), Illustrationen
  3. Benchmarks for assessing labour market health
    Autor*in: Ens, Erik; Luu, Corinne; See, Kurt; Wee, Shu Lin
    Erschienen: [2022]
    Verlag:  Bank of Canada, Ottawa, Ontario, Canada

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Fernleihe:
    keine Fernleihe
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
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    Auflage/Ausgabe: Last updated: April 13, 2022
    Schriftenreihe: Staff analytical note ; 2022, 2
    Schlagworte: Arbeitsmarkt; Benchmarking; Coronavirus; Kanada
    Umfang: 1 Online-Ressource (circa 18 Seiten), Illustrationen
  4. Scenario analysis and the economic and financial risks from climate change
    Autor*in: Ens, Erik; Johnston, Craig
    Erschienen: [2020]
    Verlag:  Bank of Canada, Ottawa, Ontario, Canada

    Central banks are increasingly focused on the risks from climate change for the economy and financial system. Two sets of risks are of particular concern: physical risks from more frequent and severe weather events, and transition risks from the move... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 201
    Fernleihe:
    keine Fernleihe

     

    Central banks are increasingly focused on the risks from climate change for the economy and financial system. Two sets of risks are of particular concern: physical risks from more frequent and severe weather events, and transition risks from the move toward a lower-carbon intensive economy. This paper adapts climate-economy models that have been applied in other contexts for use in climate-related scenario analysis. We consider illustrative scenarios for the global economy that could generate economic and financial system risks by varying assumptions on key variables such as climate policy in plausible ways. The results show significant economic implications from climate change and the transition to a low-carbon economy. The timing and magnitude of global GDP and sectoral impacts, among other outcomes, vary considerably under the mix of scenarios. These risks touch on the interests of a broad range of stakeholders across the private and public sectors. In addition to central banks and governments, these risks could affect financial institutions, resource-intensive industries and other private sector firms. Further improvements in scenario analysis, as well as wider-spread use across the public and private sectors, could lead to a better understanding of the risks and opportunities of climate change.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/227814
    Schriftenreihe: Staff discussion paper / Bank of Canada ; 2020, 3
    Umfang: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  5. Assessing the effects of higher immigration on the Canadian economy and inflation
    Autor*in: Champagne, Julien; Ens, Erik; Guo, Xing; Kostyshyna, Olena; Lam, Alexander; Luu, Corinne; Miller, Sarah; Sabourin, Patrick; Slive, Joshua; Taskin, Temel; Trujillo, Jaime; Wee, Shu Lin
    Erschienen: [2023]
    Verlag:  Bank of Canada, [Ottawa, ON]

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    Verlag (kostenfrei)
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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Fernleihe:
    keine Fernleihe
    Export in Literaturverwaltung   RIS-Format
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
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    Auflage/Ausgabe: Last updated: December 7, 2023
    Schriftenreihe: Staff analytical note / Bank of Canada ; 2023, 17
    Schlagworte: Einwanderung; Wirkungsanalyse; Arbeitsangebot; Wohnsoziologie; Inflation; Kanada
    Umfang: 1 Online-Ressource (circa 18 Seiten), Illustrationen