000	02300cam  2200361zi 4500
001	9.927390
003	CaOODSP
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008	230918t20232023oncd    ob   f|0| 0 eng d
040	|aCaOODSP|beng|erda|cCaOODSP
041	|aeng|beng|bfre
043	|an-cn---
086	1 |aFB3-6/2023-13E-PDF
100	1 |aGosselin, Marc-André, |eauthor.
245	10|aWhat can earnings calls tell us about the output gap and inflation in Canada? / |cby Marc-André Gosselin and Temel Taskin.
264	1|aOttawa, Ontario, Canada : |bBank of Canada = Banque du Canada, |c2023.
264	4|c©2023
300	|a1 online resource (ii, 26 pages) : |bcharts.
336	|atext|btxt|2rdacontent
337	|acomputer|bc|2rdamedia
338	|aonline resource|bcr|2rdacarrier
490	1 |aStaff discussion paper = |aDocument d'analyse du personnel, |x1914-0568 ; |v2023-13
500	|a"Last updated: June 29, 2023."
504	|aIncludes bibliographical references.
520	|a"We construct new indicators of the imbalance between demand and supply for the Canadian economy by using natural language processing techniques to analyze earnings calls of publicly listed firms. The results show that the text-based indicators are highly correlated with official inflation data and estimates of the output gap and improve the accuracy of inflation forecasts. This suggests that these indicators could help central banks foresee inflationary pressures in the economy. Our examination of other topics in earnings calls, such as supply chain disruptions and capacity constraints, points to the potential benefits of using textual data to quickly draw insights on a range of relevant topics. We conclude that text-based measures of economic slack should be included in central banks’ monitoring and forecasting toolkits"--Abstract.
546	|aIncludes abstract in French.
650	0|aInflation (Finance)|xEconometric models.
650	6|aInflation|xModèles économétriques.
710	2 |aBank of Canada, |eissuing body.
830	#0|aStaff discussion paper (Bank of Canada)|v2023-13.|w(CaOODSP)9.806273
856	40|qPDF|s525 KB|uhttps://publications.gc.ca/collections/collection_2023/banque-bank-canada/FB3-6-2023-13-eng.pdf