Inequality in Parental Transfers and Optimal Need-Based Financial Aid Staff working paper 2019-7 Youngmin Park This paper studies optimal need-based financial aid when parental transfers—unobserved by policymakers—vary across and within families of similar means. Using data on U.S. college students, I document substantial inequality in parental transfers, especially among wealthier families. I then analyze how this affects aid design aimed at reducing inefficiencies from borrowing constraints and the aid itself. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D1, D14, D6, D61, D64, D8, D82, I, I2, I22, J, J2, J24 Research Theme(s): Financial system, Household and business credit, Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply
June 14, 2007 Bank of Canada Review - Summer 2007 Cover page Decimalization in Great Britain The Victorian florin on the cover is part of the National Currency Collection of the Bank of Canada. Content Type(s): Publications, Bank of Canada Review
September 19, 2024 Monetary policy decision-making: Behind the scenes Remarks Nicolas Vincent Sherbrooke Chamber of Commerce and Industry Sherbrooke, Quebec External Deputy Governor Nicolas Vincent gives a behind the scenes look at the rigorous research, analysis and debate that go into every monetary policy decision. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economic models, Inflation targeting framework
October 10, 2015 Integrating Financial Stability into Monetary Policy Remarks Stephen S. Poloz Institute of International Finance Lima, Peru Governor Poloz speaks about how the Bank’s risk-management approach contributes to integrating financial stability concerns into monetary policy. Content Type(s): Press, Speeches and appearances, Remarks
July 6, 2020 Business Outlook Survey—Summer 2020 Results from the summer Business Outlook Survey suggest that business sentiment is strongly negative in all regions and sectors due to impacts from the COVID 19 pandemic and the drop in oil prices. Firms reported that weak demand is reducing both capacity pressures and expectations for price growth. Content Type(s): Publications, Business Outlook Survey
Data Externalities, Market Power, and the Optimal Design of Central Bank Digital Currencies Staff working paper 2026-21 Yuteng Cheng, Jonathan Chiu, Mohammad Davoodalhosseini, Janet Hua Jiang This paper studies how a central bank should design a CBDC when private payment providers collect and monetize transaction data. It characterizes the optimal CBDC’s pricing and data policy, and shows how its effects on private payment use and total data depend on market power and data externalities. Content Type(s): Staff research, Staff working papers JEL Code(s): G, G2, L, L1, L14 Research Theme(s): Money and payments, Digital assets and fintech, Payment and financial market infrastructures, Retail payments
December 6, 2012 Financial System Review - December 2012 The Governing Council judges that the risks to the stability of Canada’s financial system remain high, as they were at the time of the June FSR. The sources of the key risks are similar to those highlighted in June, and emanate primarily from the external environment. Content Type(s): Publications, Financial Stability Report
March 18, 2003 The Benefits of Sound Economic Policies Remarks David Dodge Italian Bankers Association Rome, Italy Canada and Italy share many similar characteristics. We both belong to the G-7, and we are among the smaller members of that group. Our two economies vary greatly from region to region, both in terms of structure and strength. Content Type(s): Press, Speeches and appearances, Remarks
Trade and Market Power in Product and Labor Markets Staff working paper 2021-17 Gaelan MacKenzie Trade liberalizations increase the sales and input purchases of productive firms relative to their less productive domestic competitors. This reallocation affects firms’ market power in their product and input markets. I quantify how the labour market power of employers affects the distribution and size of the gains from trade. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D4, D43, F, F1, F12, F6, J, L, L1, L13 Research Theme(s): Financial markets and funds management, Market structure, Structural challenges, International trade, finance and competitiveness
The Market for Acquiring Card Payments from Small and Medium-Sized Canadian Merchants Staff discussion paper 2020-5 Angelika Welte, Jozsef Molnar This note uses industry data and a unique dataset of small and medium-sized merchants to provide insights into the acquirer-merchant market in Canada. Content Type(s): Staff research, Staff discussion papers JEL Code(s): C, C2, D, D2, E, E4, E42 Research Theme(s): Financial markets and funds management, Market structure, Money and payments, Payment and financial market infrastructures, Retail payments