C - Mathematical and Quantitative Methods

• Is Money Essential? An Experimental Approach

  Staff Working Paper 2023-39 Janet Hua Jiang, Peter Norman, Daniela Puzzello, Bruno Sultanum, Randall Wright

  Monetary theory says that money is essential if it helps to achieve better incentive-feasible outcomes. We test this in the laboratory.

  Content Type(s): Staff research, Staff working papers Topic(s): Central bank research, Economic models JEL Code(s): C, C9, C92, E, E4, E5

• Cryptoasset Ownership and Use in Canada: An Update for 2022

  Staff Discussion Paper 2023-14 Daniela Balutel, Christopher Henry, Doina Rusu

  We find that Bitcoin ownership declined from 13% in 2021 to 10% in 2022. This drop occurred against a background of steep price declines and an increasingly tight regulatory atmosphere.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods JEL Code(s): C, C8, C81, E, E4, O, O5, O51

• Is Climate Transition Risk Priced into Corporate Credit Risk? Evidence from Credit Default Swaps

  Staff Working Paper 2023-38 Andrea Ugolini, Juan C. Reboredo, Javier Ojea Ferreiro

  We study whether the credit derivatives of firms reflect the risk from climate transition. We find that climate transition risk has asymmetric and significant economic impacts on the credit risk of more vulnerable firms, and negligible effects on other firms.

  Content Type(s): Staff research, Staff working papers Topic(s): Climate change, Credit risk management, Econometric and statistical methods JEL Code(s): C, C2, C24, G, G1, G12, G3, G32, Q, Q5, Q54