Central bank research

• CBDC adoption and usage: some insights from field and laboratory experiments

  Staff Analytical Note 2020-12 Janet Hua Jiang

  This note discusses insights from historical launches of new payment methods and related laboratory experiments on the potential adoption and use of a central bank digital currency in the Canadian context.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Central bank research, Digital currencies and fintech JEL Code(s): C, C9, E, E4, E5, E58

• Security of a CBDC

  Staff Analytical Note 2020-11 Cyrus Minwalla

  Security is an important element in ensuring public confidence in a central bank digital currency (CBDC). This note highlights the required security properties of a CBDC system and the challenges encountered with existing solutions, should the Bank of Canada choose to issue one.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Central bank research, Digital currencies and fintech JEL Code(s): E, E4, E42, E5, E51, O, O3, O31

• Designing a CBDC for universal access

  Staff Analytical Note 2020-10 John Miedema, Cyrus Minwalla, Martine Warren, Dinesh Shah

  If the Bank of Canada issues a central bank digital currency, the technology should be designed for universal access.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Central bank research, Digital currencies and fintech JEL Code(s): E, E4, E41, O, O3, O31

• Privacy in CBDC technology

  Staff Analytical Note 2020-9 Sriram Darbha, Rakesh Arora

  Privacy is a key aspect of a potential central bank digital currency system. We outline different technical choices to enact various privacy models while complying with the appropriate regulations. We develop a framework to evaluate privacy models and list key risks and trade-offs in privacy design.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Central bank research, Digital currencies and fintech JEL Code(s): E, E4, E42, E5, E51, O, O3

• Classical Decomposition of Markowitz Portfolio Selection

  Staff Working Paper 2020-21 Christopher Demone, Olivia Di Matteo, Barbara Collignon

  In this study, we enhance Markowitz portfolio selection with graph theory for the analysis of two portfolios composed of either EU or US assets. Using a threshold-based decomposition of their respective covariance matrices, we perturb the level of risk in each portfolio and build the corresponding sets of graphs.

  Content Type(s): Staff research, Staff working papers Topic(s): Central bank research JEL Code(s): C, C0, C02

• Canadian Financial Stress and Macroeconomic Conditions

  Staff Discussion Paper 2020-4 Thibaut Duprey

  Severe disruptions in the financial markets, as observed during the 2008 global financial crisis or the COVID-19 pandemic, can impair the stability of the entire financial system and worsen macroeconomic downturns.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Central bank research, Coronavirus disease (COVID-19), Financial markets, Financial stability, Monetary and financial indicators JEL Code(s): C, C3, C32, E, E4, E44, G, G0, G01