Staff discussion papers are completed staff research studies on a wide variety of subjects relevant to central bank policy.
286
result(s)
Redefining Financial Inclusion for a Digital Age: Implications for a Central Bank Digital Currency
Staff Discussion Paper 2023-22
Alexandra Sutton-Lalani,
Sebastian Hernandez,
John Miedema,
Jiamin Dai,
Badr Omrane
We explore quantitative and qualitative information about Canadians who face barriers to making digital payments. We also consider the implications of ongoing digitalization for modern financial inclusion and a potential central bank digital currency.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Accessibility,
Bank notes,
Central bank research,
Digital currencies and fintech,
Digitalization,
Financial services
JEL Code(s):
A,
A1,
A14,
E,
E4,
E42,
E5,
E50,
I,
I3,
I31,
O,
O3,
O33,
O5,
O51
Predicting Changes in Canadian Housing Markets with Machine Learning
Staff Discussion Paper 2023-21
Johan Brannlund,
Helen Lao,
Maureen MacIsaac,
Jing Yang
We apply two machine learning algorithms to forecast monthly growth of house prices and existing homes sales in Canada. Although the algorithms can sometimes outperform a linear model, the improvement in forecast accuracy is not always statistically significant.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Econometric and statistical methods,
Financial markets,
Housing
JEL Code(s):
A,
C,
C4,
C45,
C5,
C53,
D,
D2,
R,
R2,
R3
Digitalization: Definition and Measurement
Staff Discussion Paper 2023-20
Guyllaume Faucher,
Stephanie Houle
This paper provides an overview of digitalization and its economic implications. We assess the scope of digitalization in Canada as well as the challenges related to its measurement.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Digitalization,
Potential output
JEL Code(s):
E,
E0,
E01,
O,
O3,
O33,
O5,
O51
Forecasting Risks to the Canadian Economic Outlook at a Daily Frequency
Staff Discussion Paper 2023-19
Chinara Azizova,
Bruno Feunou,
James Kyeong
This paper quantifies tail risks in the outlooks for Canadian inflation and real GDP growth by estimating their conditional distributions at a daily frequency. We show that the tail risk probabilities derived from the conditional distributions accurately reflect realized outcomes during the sample period from 2002 to 2022.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Business fluctuations and cycles,
Econometric and statistical methods
JEL Code(s):
C,
C3,
C32,
C5,
C58,
E,
E4,
E44,
G,
G1,
G17
Digitalization: Implications for Monetary Policy
Staff Discussion Paper 2023-18
Vivian Chu,
Tatjana Dahlhaus,
Christopher Hajzler,
Pierre-Yves Yanni
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.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Digitalization,
Inflation and prices,
Market structure and pricing,
Monetary policy,
Monetary policy communications,
Monetary policy transmission
JEL Code(s):
C,
C4,
C8,
E,
E3,
E31,
E32,
E5,
E52
Digitalization: Productivity
Staff Discussion Paper 2023-17
Jeffrey Mollins,
Temel Taskin
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.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Digitalization,
Productivity
JEL Code(s):
E,
E2,
L,
L1,
L11,
O,
O4,
O47,
O5,
O51
Digitalization: Labour Markets
Staff Discussion Paper 2023-16
Alex Chernoff,
Gabriela Galassi
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.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Digitalization,
Labour markets
JEL Code(s):
I,
I2,
I23,
J,
J2,
J23,
J24,
O,
O3,
O33
Unmet Payment Needs and a Central Bank Digital Currency
Staff Discussion Paper 2023-15
Christopher Henry,
Walter Engert,
Alexandra Sutton-Lalani,
Sebastian Hernandez,
Darcey McVanel,
Kim Huynh
We discuss the payment habits of Canadians both in the current payment environment and in a hypothetical cashless environment.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Bank notes,
Central bank research,
Digital currencies and fintech,
Financial services
JEL Code(s):
C,
C1,
C12,
C9,
E,
E4,
O,
O5,
O54
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