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2399
result(s)
Bitcoin Awareness and Usage in Canada: An Update
Staff Analytical Note 2018-23
Christopher Henry,
Kim Huynh,
Gradon Nicholls
The results of our 2017 Bitcoin Omnibus Survey (December 12 to 15, 2017) when compared with those from 2016 show that Bitcoin “awareness” increased from 64 to 85 per cent, while ownership increased from 2.9 to 5.0 per cent. Most Bitcoin purchasers are using the cryptocurrency as an investment and not as a means of payment for goods or services.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Bank notes,
Digital currencies and fintech,
Econometric and statistical methods
JEL Code(s):
C,
C1,
C12,
E,
E4
The Neutral Rate in Canada: 2018 Estimates
Staff Analytical Note 2018-22
Xin Scott Chen,
José Dorich
The neutral nominal policy rate serves as a benchmark for assessing the degree of monetary stimulus and provides a medium- to long-run anchor for the policy rate. Since quantitative measures of the neutral rate are subject to considerable uncertainty, Bank staff rely on four different approaches to estimate the Canadian neutral rate.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Economic models,
Interest rates,
Monetary policy
JEL Code(s):
E,
E4,
E40,
E43,
E5,
E50,
E52,
E58,
F,
F4,
F41
Redemption Runs in Canadian Corporate Bond Funds?
Staff Analytical Note 2018-21
Rohan Arora
Mutual funds employ a host of tools to manage redemption run risk. However, our results suggest that Canadian corporate bond funds may be vulnerable to redemption runs, especially when they are less liquid and when market volatility is high.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Financial institutions,
Financial markets
JEL Code(s):
G,
G0,
G01,
G2,
G23
Readability and the Bank of Canada
Staff Analytical Note 2018-20
Alexandre Deslongchamps
In this note, I assess the readability of Bank of Canada publications using a formula commonly used for this type of evaluation. I find that Bank publications are more difficult to read than the media articles and other content our target audiences likely consume. This suggests that more simple writing can help the Bank better meet its communication objectives.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Credibility,
Monetary policy communications
JEL Code(s):
D,
D8,
D83
Bootstrapping Mean Squared Errors of Robust Small-Area Estimators: Application to the Method-of-Payments Data
Staff Working Paper 2018-28
Valéry Dongmo Jiongo,
Pierre Nguimkeu
This paper proposes a new bootstrap procedure for mean squared errors of robust small-area estimators. We formally prove the asymptotic validity of the proposed bootstrap method and examine its finite sample performance through Monte Carlo simulations.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Bank notes,
Econometric and statistical methods
JEL Code(s):
C,
C1,
C13,
C15,
C8,
C83,
E,
E4,
E41
Swedish Riksbank Notes and Enskilda Bank Notes: Lessons for Digital Currencies
Staff Working Paper 2018-27
Ben Fung,
Scott Hendry,
Warren E. Weber
This paper examines the experience of Sweden with government notes and private bank notes to determine how well the Swedish experience corresponds to that of Canada and the United States. Sweden is important to study because it has had government notes in circulation for more than 350 years, and it had government notes before private bank notes.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Bank notes,
Digital currencies and fintech,
Financial services
JEL Code(s):
E,
E4,
E41,
E42,
E5,
E58
Reconciling Jaimovich-Rebelo Preferences, Habit in Consumption and Labor Supply
Staff Working Paper 2018-26
Tom D. Holden,
Paul Levine,
Jonathan Swarbrick
This note studies a form of a utility function of consumption with habit and leisure that (a) is compatible with long-run balanced growth, (b) hits a steady-state observed target for hours worked and (c) is consistent with micro-econometric evidence for the inter-temporal elasticity of substitution and the Frisch elasticity of labor supply.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Economic models,
Labour markets
JEL Code(s):
E,
E2,
E21,
E24
On the Evolution of the United Kingdom Price Distributions
Staff Working Paper 2018-25
Ba M. Chu,
Kim Huynh,
David T. Jacho-Chávez,
Oleksiy Kryvtsov
We propose a functional principal components method that accounts for stratified random sample weighting and time dependence in the observations to understand the evolution of distributions of monthly micro-level consumer prices for the United Kingdom (UK).
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Econometric and statistical methods,
Inflation and prices
JEL Code(s):
C,
C1,
C14,
C8,
C83,
E,
E3,
E31,
E37
The Scale and Scope of Online Retail
Staff Analytical Note 2018-19
Alex Chernoff
This paper studies the growth of online retail over the period 1999–2012, using confidential firm-product-level data for Canada. The revenue of online retailers is decomposed into the contributions of product scope (the number of product categories) and product scale (average revenue per product category).
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Digital currencies and fintech,
Firm dynamics,
International topics
JEL Code(s):
D,
D2,
D22,
L,
L1,
L11,
L8,
L81