Staff working papers provide a forum for staff to publish work-in-progress research intended for journal publication.
1306
result(s)
Bank Runs, Bank Competition and Opacity
Staff Working Paper 2021-30
Toni Ahnert,
David Martinez-Miera
How is the stability of the financial sector affected by competition in the deposit market and by decisions banks make about transparency? We find that policies that aim to increase bank competition lead to higher bank deposit rates, increasing both withdrawal incentives and instability.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Financial institutions,
Financial markets,
Financial stability,
Financial system regulation and policies,
Wholesale funding
JEL Code(s):
G,
G0,
G01,
G2,
G21
A New Measure of Monetary Policy Shocks
Staff Working Paper 2021-29
Xu Zhang
Combining various high frequency financial data with central bank projections, I construct a new measure of monetary policy shocks not predictable by the public information preceding a central bank’s announcements. I then study the causal effects of monetary policy on the macro economy.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Central bank research,
Econometric and statistical methods,
Interest rates,
Monetary policy
JEL Code(s):
E,
E5,
G,
G0
Consumer Cash Withdrawal Behaviour: Branch Networks and Online Financial Innovation
Staff Working Paper 2021-28
Heng Chen,
Matthew Strathearn,
Marcel Voia
The physical network of bank branches is important in how consumers manage their cash holdings. This paper estimates how consumer withdrawal behaviour responds to the distance they must travel to their branch.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Bank notes,
Digital currencies and fintech
JEL Code(s):
G,
G2,
G21,
R,
R2,
R22
Monetary Policy, Trends in Real Interest Rates and Depressed Demand
Staff Working Paper 2021-27
Paul Beaudry,
Césaire Meh
Over the last few decades, real interest rates have trended downward. The most common explanation is that this reflects depressed demand due to demographic, technological and other real factors. We explore the claim that these trends may have been amplified by certain features of monetary policy.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Debt management,
Economic models,
Fiscal policy,
Inflation and prices,
Interest rates,
Monetary policy
JEL Code(s):
E,
E2,
E4,
E43,
E44,
E5,
E52,
E6,
E62,
E63,
H,
H3,
H6,
H63
The Geography of Pandemic Containment
Staff Working Paper 2021-26
Elisa Giannone,
Nuno Paixao,
Xinle Pang
Interconnectedness between US states has affected the evolution of the COVID-19 pandemic. We study the optimal containment policies regulating the movement of goods and people within and between states.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Coronavirus disease (COVID-19),
Economic models,
Regional economic developments
JEL Code(s):
F,
F1,
H,
H0,
I,
I1,
R,
R1
COVID-19 and Implications for Automation
Staff Working Paper 2021-25
Alex Chernoff,
Casey Warman
Occupations held by females with mid-level education face the highest risk of accelerated automation as a result of the COVID-19 pandemic.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Coronavirus disease (COVID-19),
International topics,
Labour markets
JEL Code(s):
I,
I1,
I14,
I2,
I24,
J,
J1,
J15,
J16,
R,
R1,
R12
Shaping the future: Policy shocks and the GDP growth distribution
Staff Working Paper 2021-24
Francois-Michel Boire,
Thibaut Duprey,
Alexander Ueberfeldt
Can central bank and government policies impact the risks around the outlook for GDP growth? We find that fiscal stimulus makes strong GDP growth more likely—even more so when monetary policy is constrained—rather than weak GDP growth less likely. Thus, fiscal stimulus should accelerate the recovery phase of the COVID-19 pandemic.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Central bank research,
Econometric and statistical methods,
Financial stability,
Fiscal policy,
Monetary policy
JEL Code(s):
C,
C3,
C32,
C5,
C53,
E,
E5,
E52,
E6,
E62
An Empirical Analysis of Bill Payment Choices
Staff Working Paper 2021-23
Anneke Kosse
How do Canadians pay their bills? 2019 survey data collected from over 4,000 Canadian consumers show how people’s bill payment choices vary with consumer characteristics and types of bills. The data also reveal that many consumers feel limited in their choices, which suggests that preferences of billers might play an important role as well.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Bank notes,
Econometric and statistical methods,
Financial services,
Payment clearing and settlement systems
JEL Code(s):
D,
D1,
D9,
G,
G2
Evolving Temperature Dynamics in Canada: Preliminary Evidence Based on 60 Years of Data
Staff Working Paper 2021-22
Robert Amano,
Marc-André Gosselin,
Julien McDonald-Guimond
Are summers getting hotter? Do daily temperatures change more than they used to? Using daily Canadian temperature data from 1960 to 2020 and modern econometric methods, we provide economists and policy-makers evidence on the important climate change issue of evolving temperatures.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Climate change,
Econometric and statistical methods
JEL Code(s):
C,
C2,
C22,
Q,
Q5,
Q54