Electronic Money and Payments: Recent Developments and Issues Staff Discussion Paper 2014-2 Ben Fung, Miguel Molico, Gerald Stuber The authors review recent developments in retail payments in Canada and elsewhere, with a focus on e-money products, and assess their potential public policy implications. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Bank notes, Digital currencies and fintech, Financial services, Payment clearing and settlement systems JEL Code(s): E, E4, E41, E42
November 12, 2019 Cyber Security: Breaking Down Barriers Remarks Filipe Dinis Information Technology Association of Canada Toronto, Ontario Chief Operating Officer Filipe Dinis discusses the need for greater collaboration across sectors to enhance Canada’s cyber resiliency. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Cyber defenses, Cyber security, Financial stability
August 17, 2001 The Changing Effects of Energy-Price Shocks on Economic Activity and Inflation Bank of Canada Review - Summer 2001 Gerald Stuber In this article the author examines the effects that major changes in energy prices in recent years have had on inflation and on the pace of economic expansion. These are then compared with the effects of the oil-price shocks that occurred in the 1970s and early 1980s. Changes in the intensity of energy use are examined, as well as developments in Canada's merchandise trade surplus in energy commodities and products. The author also considers the effects that a monetary policy anchored to low and stable inflation could have on price-setting behaviour and thus on the pass-through of higher energy costs to core inflation in Canada and in other industrial countries. Content Type(s): Publications, Bank of Canada Review articles Research Topic(s): Business fluctuations and cycles
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 Research Topic(s): Fiscal policy, Potential output, Productivity JEL Code(s): D, D1, D14, D6, D61, D64, D8, D82, I, I2, I22, J, J2, J24
March 30, 2013 Research Update - March 2013 This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website. Content Type(s): Staff research, Research newsletters
January 22, 2001 Canada's Economic Future: What Have We Learned from the 1990s? Remarks Gordon Thiessen Canadian Club of Toronto Toronto, Ontario In early 1994, Canada's economic situation was not that favourable - our economy was facing some rather serious problems. Today, too, we face some challenges. But our overall economic and financial situation is much stronger now than it was seven years ago. Content Type(s): Press, Speeches and appearances, Remarks
April 13, 2022 Monetary Policy Report – April 2022 Canadian economic activity remains strong, and employment is robust. The Bank is forecasting growth of about 4¼% in 2022, easing to 3¼% in 2023. Content Type(s): Publications, Monetary Policy Report
Why Do Canadian Firms Invest and Operate Abroad? Implications for Canadian Exports Staff Discussion Paper 2014-7 Martin Coiteux, Patrick Rizzetto, Lena Suchanek, Jane Voll Canadian foreign direct investment and sales of Canadian multinational firms’ operations abroad, particularly in the manufacturing industry and in the United States, have accelerated sharply over the past decade. Content Type(s): Staff research, Staff discussion papers Research Topic(s): International topics, Recent economic and financial developments JEL Code(s): F, F1, F10, F2, F21, F23, F4, F41
Why Fixed Costs Matter for Proof-of-Work Based Cryptocurrencies Staff Working Paper 2020-27 Rodney J. Garratt, Maarten van Oordt Can Bitcoin survive? Some say it will become vulnerable to attacks as the rewards for processing Bitcoin transactions continue to decline. The economics of fixed costs suggest the specialized hardware used to mine Bitcoin may be key to its survival. Content Type(s): Staff research, Staff working papers Research Topic(s): Digital currencies and fintech, Payment clearing and settlement systems JEL Code(s): G, G1, G10, L, L1, L11
May 19, 2011 The Changing Face of Risk in the Global Financial System Remarks Timothy Lane Canadian Pension & Benefits Institute Vancouver, British Columbia I know that risk is ever-present in your work, as you fulfill your commitments to the beneficiaries and sponsors of your pension plans. Important risks surround the investment performance of those plans, as well as the value of pension liabilities. Content Type(s): Press, Speeches and appearances, Remarks