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2380
result(s)
Summaries of Central Bank Policy Deliberations: A Canadian Context
Staff Discussion Paper 2023-2
Monica Jain,
Walter Muiruri,
Jonathan Witmer,
Sharon Kozicki,
Jeremy Harrison
This paper provides the context, rationale and key considerations that informed the Bank of Canada’s decision to publish a summary of monetary policy deliberations. It includes an analysis of how other central banks disclose minutes and summaries of their monetary policy deliberations.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Monetary policy communications
JEL Code(s):
D,
D8,
D83,
E,
E5,
E58
Macroeconomic Disasters and Consumption Smoothing: International Evidence from Historical Data
Staff Working Paper 2023-4
Lorenzo Pozzi,
Barbara Sadaba
Does consumption smoothing fundamentally decrease during macroeconomic disasters? This paper uses a large historical dataset (1870–2016) for 16 industrial economies to show that during macroeconomic disasters (e.g., wars, pandemics, depressions) aggregate consumption and income are significantly less decoupled than during normal times.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Coronavirus disease (COVID-19),
Econometric and statistical methods
JEL Code(s):
C,
C2,
C23,
E,
E2,
E21
Mandatory Retention Rules and Bank Risk
Staff Working Paper 2023-3
Yuteng Cheng
This paper studies, theoretically and empirically, the unintended consequences of mandatory retention rules in securitization. It proposes a novel model showing that while retention strengthens monitoring, it may also encourage banks to shift risk.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Credit risk management,
Financial institutions,
Financial system regulation and policies
JEL Code(s):
G,
G2,
G21,
G28
Geographical and Cultural Proximity in Retail Banking
Staff Working Paper 2023-2
Santiago Carbo-Valverde,
Héctor Pérez Saiz,
Hongyu Xiao
This paper measures how both geographical and cultural proximity of bank branches affect household credit choice and pricing. For credit products that require high levels of ex-ante screening, we find that both proximities can complement each other in reducing the cost of providing soft information, thereby increasing credit access.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Credit and credit aggregates,
Financial institutions,
Financial services
JEL Code(s):
D,
D8,
D82,
D83,
G,
G2,
G20,
G21,
R,
R2,
R22,
Z,
Z1,
Z10,
Z13
The 2021–22 Merchant Acceptance Survey Pilot Study
Staff Discussion Paper 2023-1
Angelika Welte,
Joy Wu
The rise in digital payment innovations has spurred a discussion about the future of cash at the point of sale. The Bank conducted the 2021–22 Merchant Acceptance Survey Pilot Study to study trends in merchant cash acceptance and monitor conditions for the potential issuance of a central bank digital currency.
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,
D,
D2,
D22,
E,
E4,
L,
L2
Simulating Intraday Transactions in the Canadian Retail Batch System
Staff Working Paper 2023-1
Nellie Zhang
This paper proposes a unique approach to simulate intraday transactions in the Canadian retail payments batch system when such transactions are unobtainable. The simulation procedure has potential for helping with data-deficient problems where only high-level aggregate information is available.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial markets,
Payment clearing and settlement systems
JEL Code(s):
C,
C6,
C63,
E,
E4,
E42,
E5,
E58
2021 Methods-of-Payment Survey Report
Staff Discussion Paper 2022-23
Christopher Henry,
Matthew Shimoda,
Julia Zhu
We present results from the 2021 Methods-of-Payment Survey, including updated payment shares. We highlight long-term trends and provide additional context for results with respect to the COVID-19 pandemic.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Bank notes,
Coronavirus disease (COVID-19),
Digital currencies and fintech,
Financial services
JEL Code(s):
D,
D8,
D83,
E,
E4,
E41
Improving the Efficiency of Payments Systems Using Quantum Computing
Staff Working Paper 2022-53
Christopher McMahon,
Donald McGillivray,
Ajit Desai,
Francisco Rivadeneyra,
Jean-Paul Lam,
Thomas Lo,
Danica Marsden,
Vladimir Skavysh
We develop an algorithm and run it on a hybrid quantum annealing solver to find an ordering of payments that reduces the amount of system liquidity necessary without substantially increasing payment delays.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Digital currencies and fintech,
Financial institutions,
Financial services,
Financial system regulation and policies,
Payment clearing and settlement systems
JEL Code(s):
C,
C6,
C61,
C63,
D,
D8,
D83,
E,
E4,
E42,
E5,
E58
Are Temporary Oil Supply Shocks Real?
Staff Working Paper 2022-52
Johan Brannlund,
Geoffrey R. Dunbar,
Reinhard Ellwanger
Hurricanes disrupt oil production in the Gulf of Mexico because producers shut in oil platforms to safeguard lives and prevent damage. We examine the effects of these temporary oil supply shocks on real economic activity in the United States.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Inflation and prices
JEL Code(s):
E,
E3,
E31,
E32,
Q,
Q3,
Q31,
Q4,
Q41,
Q43