Canadian Bitcoin Ownership in 2023: Key Takeaways Staff discussion paper 2025-4 Daniela Balutel, Marie-Hélène Felt, Doina Rusu The Bitcoin Omnibus Survey is an important tool for monitoring Canadians’ awareness and ownership of bitcoin and other cryptoassets over time. In this paper, we present data highlights from the 2023 survey. Content Type(s): Staff research, Staff discussion papers JEL Code(s): C, C8, C81, E, E4, O, O5, O51 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Money and payments, Digital assets and fintech
Does Unconventional Monetary and Fiscal Policy Contribute to the COVID Inflation Surge in the US? Staff working paper 2024-38 Jing Cynthia Wu, Yinxi Xie, Ji Zhang We assess whether unconventional monetary and fiscal policy implemented in response to the COVID-19 pandemic in the U.S. contribute to the 2021-2023 inflation surge through the lens of several different empirical methodologies and establish a null result. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E3, E31, E5, E52, E6, E63 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Monetary policy tools and implementation
April 24, 2005 Bank of Canada Review - Spring 2005 Cover page Moroccan Coin Moulds This bronze mould from Morocco is part of the National Currency Collection, Bank of Canada. Photography by Gord Carter, Ottawa. Content Type(s): Publications, Bank of Canada Review
November 27, 1997 Final report on wartime gold transactions released Media Relations The Bank of Canada today released a report by Professor Duncan McDowall of Carleton University entitled Due Diligence: A report on the Bank of Canada's handling of foreign gold during World War II. Content Type(s): Press, Press releases
The Side Effects of Safe Asset Creation Staff working paper 2021-34 Sushant Acharya, Keshav Dogra The secular decline in real interest rates has created a challenge for monetary policy, now confronting the zero lower bound more often. An increase in the supply of safe assets reduces downward pressure on the natural interest rate. This allows monetary policy to reach price stability and full employment, but not without cost—permanently lower investment. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E3, E4, E5, G, G1, H, H6 Research Theme(s): Financial system, Financial stability and systemic risk, Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures, Monetary policy tools and implementation
October 25, 2005 Bank of Canada Review - Autumn 2005 Cover page Ready References The book is part of the National Currency Collection, Bank of Canada. Photography by Gord Carter, Ottawa. Content Type(s): Publications, Bank of Canada Review
April 13, 2007 The Large-Value Payments System: Insights from Selected Bank of Canada Research Bank of Canada Review - Spring 2007 Neville Arjani, Walter Engert Given the Bank of Canada's strong interest in the safe and efficient operation of major clearing and settlement systems, the Bank maintains a rigorous research agenda as a means of informing payments system policy and oversight. In this article, Arjani and Engert review recent research undertaken by Bank staff concerning the risk and efficiency of the Large Value Transfer System (LVTS). Based on the findings from this research, the authors conclude that the design of the LVTS strikes an effective balance between risk and efficiency. The article also demonstrates the increased use of simulation analysis as a tool for conducting payments system research. A brief summary of the Bank's oversight strategy for systemically important payments systems is also provided. Goals for future research are noted as well, including modelling of participant behaviour and continued external collaboration with other researchers. Content Type(s): Publications, Bank of Canada Review articles
February 17, 2011 Adverse Selection and Financial Crises Bank of Canada Review - Winter 2010-2011 Koralai Kirabaeva The recent financial crisis has highlighted the importance of adverse selection as a contributing factor to financial market instability. Content Type(s): Publications, Bank of Canada Review articles
Understanding Systemic Risks in the Canadian Financial System Staff analytical paper 2026-28 Gabriel Bruneau, Sascha Clazie-Thomson, Thibaut Duprey, Ruben Hipp, Javier Ojea Ferreiro, Kerem Tuzcuoglu This paper reviews recent efforts to monitor and assess systemic risk in the Canadian financial system and outlines a framework for future system-wide stress testing. Content Type(s): Staff research, Staff analytical paper JEL Code(s): G, G0, G01, G1, G17, G18, G2, G21, G23, G28 Research Theme(s): Financial system, Financial stability and systemic risk
Grasping De(centralized) Fi(nance) Through the Lens of Economic Theory Staff working paper 2022-43 Jonathan Chiu, Charles M. Kahn, Thorsten Koeppl We analyze the value proposition and limitations of decentralized finance (DeFi). Based on a distributed ledger and smart contracts, DeFi can guarantee the execution of financial contracts, potentially lowering the costs of intermediation and improving financial inclusion. Content Type(s): Staff research, Staff working papers JEL Code(s): G, G2 Research Theme(s): Money and payments, Digital assets and fintech, Payment and financial market infrastructures