June 26, 2018 CFIF Meeting (June 26, 2018) Content Type(s): Meetings Source(s): Canadian Fixed-Income Forum
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
June 25, 2018 CARR Meeting (June 25, 2018) Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group
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
June 18, 2018 Rebooting Reference Rates Remarks Lynn Patterson Investment Industry Association of Canada and Institute of International Finance Toronto, Ontario Deputy Governor Lynn Patterson discusses the efforts in multiple jurisdictions to strengthen LIBOR and similar benchmarks and work underway in Canada to consider a new risk-free benchmark for the Canadian dollar market. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Financial institutions, Financial markets, Financial system regulation and policies, Market structure and pricing
A Primer on the Canadian Bankers’ Acceptance Market Staff Discussion Paper 2018-6 Kaetlynd McRae, Danny Auger This paper discusses how the bankers’ acceptance (BA) market in Canada is organized and its essential link to the Canadian Dollar Offered Rate (CDOR). Globally, BAs are a niche product used only in a limited number of jurisdictions. Content Type(s): Staff research, Staff discussion papers Topic(s): Financial institutions, Financial markets, Financial system regulation and policies, Market structure and pricing JEL Code(s): G, G1, G18, G2, G21, G23
June 13, 2018 Bank of Canada partners with Creative Destruction Lab to deepen knowledge of new technologies Media Relations Ottawa, Ontario The Bank of Canada announced today that it will partner with the Creative Destruction Lab to deepen its knowledge of leading technologies. Content Type(s): Press, Press releases Topic(s): Digital currencies and fintech