Posts
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Understanding DeFi Through the Lens of a Production-Network Model
We develop a production-network model to capture how decentralized finance (DeFi) has evolved across different sectors of financial services. The model allows us to measure the value added by different DeFi sectors and to study how the connections across the sectors influence token prices. -
Digitalization: Implications for Monetary Policy
We explore the implications of digitalization for monetary policy, both in terms of how monetary policy affects the economy and in terms of data analysis and communication with the public. -
Digitalization: Productivity
We examine the relationship between digitalization and productivity, the factors that influence this relationship, and how digitalization’s effect on productivity could change firm behaviour. -
Digitalization: Labour Markets
In this paper, the authors assess the relationship between digitalization and labour demand and supply, and how this relationship affects wages and income inequality. We also explore implications of recent digitalization trends for the future of work. -
Flagship Entry in Online Marketplaces
In this paper, we empirically study how flagship entry in an online marketplace affects consumers, the platform, and various sellers on the platform. We find flagship entry may benefit consumers by expanding the choice set, by intensifying price competition within the entry brand, and by improving consumer perception for parts of the platform. -
Unmet Payment Needs and a Central Bank Digital Currency
We discuss the payment habits of Canadians both in the current payment environment and in a hypothetical cashless environment. -
August 10, 2023
Term CORRA to be launched on September 5, 2023
In January, CARR announced the development of a Term CORRA benchmark that was designed to be a robust benchmark that adheres to IOSCO’s Principles for Financial Benchmarks. -
Generalized Autoregressive Gamma Processes
We introduce generalized autoregressive gamma (GARG) processes, a class of autoregressive and moving-average processes in which each conditional moment dynamic is driven by a different and identifiable moving average of the variable of interest. We show that using GARG processes reduces pricing errors by substantially more than using existing autoregressive gamma processes does. -
August 2, 2023
CARR begins publishing CDOR transition related FAQs
Today, the Canadian Alternative Reference Rate working group (CARR) begun publishing a set of frequently asked questions (FAQs) on its website to provide clarity on various aspects of the CDOR transition.
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