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3045 Results

Fixed-income dealing and central bank interventions

Staff Analytical Note 2022-9 David Cimon, Adrian Walton
We summarize the theoretical model of central bank asset purchases developed in Cimon and Walton (2022). The model helps us understand how asset purchases ease pressures on investment dealers to restore market conditions in a crisis.

Cash Versus Card: Payment Discontinuities and the Burden of Holding Coins

Staff Working Paper 2017-47 Heng Chen, Kim Huynh, Oz Shy
Cash is the preferred method of payment for small value transactions generally less than $25. We provide insight to this finding with a new theoretical model that characterizes and compares consumers’ costs of paying with cash to paying with cards for each transaction.
Content Type(s): Staff research, Staff working papers Research Topic(s): Bank notes, Econometric and statistical methods JEL Code(s): D, D0, D03, E, E4, E42

Monetary Policy in Estimated Models of Small Open and Closed Economies

Staff Working Paper 2003-27 Ali Dib
The author develops and estimates a quantitative dynamic-optimizing model of a small open economy (SOE) with domestic and import price stickiness and capital-adjustment costs. A monetary policy rule allows the central bank to systematically manage the short-term nominal interest rate in response to deviations of inflation, output, and money growth from their steadystate levels.

The Productivity Slowdown in Canada: An ICT Phenomenon?

Staff Working Paper 2019-2 Jeffrey Mollins, Pierre St-Amant
We ask whether a weaker contribution of information and communication technologies (ICT) to productivity growth could account for the productivity slowdown observed in Canada since the early 2000s. To answer this question, we consider several methods capturing channels through which ICT could affect aggregate productivity growth.
Content Type(s): Staff research, Staff working papers Research Topic(s): Productivity JEL Code(s): D, D2, D24, O, O4, O41, O47

Les provinces canadiennes et la convergence : une évaluation empirique

Staff Working Paper 1994-10 Mario Lefebvre
This paper examines whether the hypothesis of economic convergence holds for the Canadian provinces. Using data on real gross domestic product per capita and on factor productivity from 1966 to 1992, the paper shows, using two different methods, that the convergence hypothesis cannot be rejected. This evidence supports the findings of other authors who have studied convergence among Canadian provinces.

Eggs in One Basket: Security and Convenience of Digital Currencies

Staff Working Paper 2021-6 Charles M. Kahn, Francisco Rivadeneyra, Tsz-Nga Wong
Digital currencies store balances in anonymous electronic addresses. This paper analyzes the trade-offs between the safety and convenience of aggregating balances in addresses, electronic wallets and banks.

Central Bank Digital Currency: Motivations and Implications

Staff Discussion Paper 2017-16 Walter Engert, Ben Fung
The emergence of digital currencies such as Bitcoin and the underlying blockchain and distribution ledger technology have attracted significant attention. These developments have raised the possibility of considerable impacts on the financial system and perhaps the wider economy.

Debt Overhang and Deleveraging in the US Household Sector: Gauging the Impact on Consumption

Staff Working Paper 2015-47 Bruno Albuquerque, Georgi Krustev
Using a novel dataset for the US states, this paper examines whether household debt and the protracted debt deleveraging help explain the dismal performance of US consumption since 2007, in the aftermath of the housing bubble.

Commodity-Linked Bonds: A Potential Means for Less-Developed Countries to Raise Foreign Capital

Staff Working Paper 2004-20 Joseph Atta-Mensah
The author suggests that commodity-linked bonds could provide a potential means for less-developed countries (LDCs) to raise money on the international capital markets, rather than through standard forms of financing.
Content Type(s): Staff research, Staff working papers Research Topic(s): Development economics, Financial markets, International topics JEL Code(s): F, F3, F30, F34, F4, F49, G, G1, G11, G13, O, O1, O16
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