Bank notes

• Demographics and the Demand for Currency

  Staff Working Paper 2014-59 Geoffrey R. Dunbar

  I use data from the Bank of Canada’s Bank Note Distribution System and exploit a natural experiment offered by the timing of Easter in the Gregorian calendar to analyze the effects of demographic change for currency demand.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Econometric and statistical methods JEL Code(s): C, C3, C31, C36, E, E4, E41
• December 16, 2014

  Bank of Canada publishes results of consultation on bank note design principles

  Media Relations Ottawa, Ontario

  The Bank of Canada today published a summary of the comments it received in an online consultation on the principles guiding the design of the country’s bank notes.

  Content Type(s): Press, Press releases Topic(s): Bank notes
• December 5, 2014

  Bank of Canada invites Canadians to propose design ideas for a bank note marking Canada’s 150th anniversary

  Media Relations Ottawa, Ontario

  The Bank of Canada is inviting Canadians to propose ideas for the design of a new bank note to celebrate the 150th anniversary of Confederation in 2017.

  Content Type(s): Press, Press releases Topic(s): Bank notes
• October 8, 2014

  Bank of Canada invites Canadians to comment on bank note design principles

  Media Relations Ottawa, Ontario

  The Bank of Canada announced that it is inviting Canadians to comment on the principles that guide the design of the country’s bank notes.

  Content Type(s): Press, Press releases Topic(s): Bank notes

• The Role of Card Acceptance in the Transaction Demand for Money

  Staff Working Paper 2014-44 Kim Huynh, Philipp Schmidt-Dengler, Helmut Stix

  The use of payment cards, either debit or credit, is becoming more and more widespread in developed economies. Nevertheless, the use of cash remains significant.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods, Financial services JEL Code(s): C, C3, C35, C8, C83, E, E4, E41
• August 26, 2014

  Bank of Canada Announces the Recipient of its 2014 Law Enforcement Award of Excellence for Counterfeit Deterrence

  Ottawa, Ontario

  This award was established in 2004 to recognize the work of Canadians in the field of law enforcement in deterring and preventing the counterfeiting of Canada’s bank notes.

  Content Type(s): Press, Press releases Topic(s): Bank notes

• Retail Payment Innovations and Cash Usage: Accounting for Attrition Using Refreshment Samples

  Staff Working Paper 2014-27 Heng Chen, Marie-Hélène Felt, Kim Huynh

  We exploit the panel dimension of the Canadian Financial Monitor (CFM) data to estimate the impact of retail payment innovations on cash usage. We estimate a semiparametric panel data model that accounts for unobserved heterogeneity and allows for general forms of non-random attrition.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods, Financial services JEL Code(s): C, C3, C35, E, E4, E41

• Understanding the Cash Demand Puzzle

  Staff Working Paper 2014-22 Janet Hua Jiang, Enchuan Shao

  We develop a model to explain a puzzling trend in cash demand in recent years: the value of bank notes in circulation as a percentage of GDP has remained stable despite decreasing cash usage at points of sale owing to competition from alternative means of payment such as credit cards.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Credit and credit aggregates, Digital currencies and fintech JEL Code(s): E, E4, E41, E5, E51

• Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data

  Staff Working Paper 2014-20 John Bagnall, David Bounie, Kim Huynh, Anneke Kosse, Tobias Schmidt, Scott Schuh, Helmut Stix

  We measure consumers’ use of cash by harmonizing payment diary surveys from seven countries. The seven diary surveys were conducted in 2009 (Canada), 2010 (Australia), 2011 (Austria, France, Germany and the Netherlands), and 2012 (the United States).

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods, Financial services JEL Code(s): D, D1, D12, E, E4, E41, E5, E58
• May 13, 2014

  Understanding Platform-Based Digital Currencies

  Bank of Canada Review - Spring 2014 Ben Fung, Hanna Halaburda

  Given technological advances and the widespread use of the Internet, various digital currencies have emerged. In most cases, Internet platforms such as Facebook and Amazon restrict the functionality of their digital currencies to enhance the business model and maximize their profits. While platform-based digital currencies could increase the efficiency of retail payments, they could also raise some important policy issues if they were to become widely used outside of the platform. Thus, it is important to closely monitor the evolution of these digital currencies.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Bank notes, Digital currencies and fintech, Financial services, Payment clearing and settlement systems JEL Code(s): E, E4, E41, E42