Recent advances in artificial intelligence (AI) have revived expectations of transformative productivity gains and large‑scale labour‑market disruption. Yet despite rapid improvements in AI capabilities, aggregate productivity growth in advanced economies remains subdued, and widespread job...

This note examines how monetary policy responses to shelter inflation affect both the overall economy and different households. We find that the aggregate macroeconomic effects of responding to shelter inflation are modest, whereas the redistributive consequences across households are...

This paper introduces CLONE (Classification Of News), a method that decomposes asset price movements into four types of macroeconomic news-aggregate demand, productivity, inflation, and monetary policy-based on joint changes in prices of stocks, bonds, and inflation swaps. CLONE's simplicity and...

This note finds evidence of a positive and nonlinear relationship between mortgage interest costs (MIC) and rental inflation: the impact of MIC on rents is small when population growth is near its historical norm, but significantly stronger during periods of rapid population growth. This pattern...

Central banks all over the world publicly provide varying degrees of information on future monetary policy underlying their projections. Such information ranges from very little information about the path, to publishing a path based on financial market interest rate expectations or an endogenous...

This paper presents Bank of Canada staff's current assessment of the US and Canadian neutral rates of interest. The neutral rate is where the Bank expects the policy rate would settle once output is at its long-run potential level and inflation is at target, after the effects of all cyclical...

In today's context of escalating environmental pressure, traditional methods of natural resource conservation face numerous challenges. The use of big data analytics to support the formulation of environmental policies has become a crucial approach for enhancing the efficiency and scientific...

The growth of synthetic polymers has resulted in a significant rise in the manufacturing and use of plastics worldwide. Microplastics (MPs) may survive in the environment for very prolonged periods because of how slowly plastics degrade. Information on the importance of several potential...