May 16, 2011 Canada in a Multi-Polar World Remarks Mark Carney Canadian Club of Ottawa Ottawa, Ontario Governor Mark Carney discusses the forces that are transforming the global economic landscape and their implications for the Canadian economy. Content Type(s): Press, Speeches and appearances, Remarks
A Retail CBDC Design for Basic Payments: Feasibility Study Staff Discussion Paper 2025-9 Sriram Darbha, Cyrus Minwalla, Rakesh Arora, Dinesh Shah We outline possible system architectures for an online retail central bank digital currency (CBDC) and identify one well-suited for basic payments. We analyze OpenCBDC 2PC, a representative system, finding such designs to be feasible, although some areas require further investigation. Our framing highlights other promising architectures for a retail CBDC. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Central bank research, Digital currencies and fintech JEL Code(s): E, E4, E42, E5, E51, O, O3
Essays on Financial Stability Technical Report No. 95 John Chant, Alexandra Lai, Mark Illing, Fred Daniel The four essays published here provide a useful overview for anyone interested in understanding the issues and policy environment surrounding financial system stability. Content Type(s): Staff research, Technical reports Research Topic(s): Financial institutions, Financial markets JEL Code(s): G, G2, G28
Ownership Concentration and Competition in Banking Markets Staff Working Paper 2006-7 Alexandra Lai, Raphael Solomon Many countries prohibit large shareholdings in their domestic banks.The authors examine whether such a restriction restrains competition in a duopolistic loan market. Blockholders may influence managers' output decisions by choosing capital structure, as in Brander and Lewis (1986). Content Type(s): Staff research, Staff working papers Research Topic(s): Financial institutions, Financial services, Financial system regulation and policies JEL Code(s): G, G2, G21, G28, G3, G32, L, L1, L10
December 6, 2008 Beads to Bytes: Canada's National Currency Collection This volume explores money and the role it has played, and continues to play, in society, through the lens of Canada's National Currency Collection. The Collection is an extraordinary repository of coins, bank notes, and related paraphernalia from around the world. Soft cover, 124 pages (2008). Content Type(s): Publications, Books and monographs, Souvenir books Research Topic(s): Bank notes
Do Sunspots Matter? Evidence from an Experimental Study of Bank Runs Staff Working Paper 2014-12 Jasmina Arifovic, Janet Hua Jiang A "sunspot" is a variable that has no direct impact on the economy’s fundamental condition, such as preferences, endowments or technologies, but may nonetheless affect economic outcomes through the expectations channel as a coordination device. This paper investigates how people react to sunspots in the context of a bank-run game in a controlled laboratory environment. Content Type(s): Staff research, Staff working papers Research Topic(s): Financial markets, Financial stability JEL Code(s): C, C9, C91, C92, D, D8, D80, E, E5, E58, G, G2, G20
January 20, 1999 The euro: Its economic implications and its lessons for Canada Remarks Gordon Thiessen Canadian Club of Ottawa Ottawa, Ontario We have just witnessed the dawn of a new era in Europe. Beginning this month, 11 of the 15 member countries of the European Union have joined in a currency union. And they are using the euro as their common currency. The currency union is yet another step on the road to greater economic, social, and political integration in Europe - a vision some 50 years in the making. Content Type(s): Press, Speeches and appearances, Remarks
April 22, 2009 Monetary Policy Report – April 2009 In an environment of continued high uncertainty, the global recession has intensified and become more synchronous since the Bank’s January Monetary Policy Report Update, with weaker-than-expected activity in all major economies. Errata: The source for Chart 1 (on page 3) is Global Insight, not the Bank of Canada. As well, in chart 15 (on page18), the base year for the exchange rate index CERI excluding the U.S. dollar should read 1992=100, not 1997=100. Content Type(s): Publications, Monetary Policy Report
June 14, 2012 The Resolution of Systemically Important Financial Institutions Financial System Review - June 2012 Alexandra Lai, Adi Mordel Content Type(s): Publications, Financial System Review articles
Does Exchange Rate Policy Matter for Growth? Staff Working Paper 2002-17 Jeannine Bailliu, Robert Lafrance, Jean-François Perrault Previous studies on whether the nature of the exchange rate regime influences a country's medium-term growth performance have been based on a tripartite classification scheme that distinguishes between pegged, intermediate, and flexible exchange rate regimes. Content Type(s): Staff research, Staff working papers Research Topic(s): Exchange rate regimes, Exchange rates, Monetary policy framework JEL Code(s): F, F3, F31, F33, F4, F43, O, O4, O40