April 12, 2006 The Evolution of the Government of Canada's Debt Distribution Framework Bank of Canada Review - Spring 2006 Marc Pellerin This overview includes a brief history highlighting the government's use of the primary and secondary markets to develop a framework for distributing its debt securities to financial market intermediaries and end investors. The framework is also intended to meet the government's debt-strategy objectives of raising stable, low-cost funding and maintaining a well-functioning debt market. Pellerin reviews the government's adoption of a new framework in 1998 as well as the 2005 modifications aimed at attracting continued broad and competitive participation in government auctions. Content Type(s): Publications, Bank of Canada Review articles
The Digital Economy—Insight from a Special Survey with IT Service Exporters Staff discussion paper 2016-21 Wei Dong, James Fudurich, Lena Suchanek Information technology (IT) is an increasingly integral part of everyday business and personal life reflecting the ongoing and accelerating digital transformation of the economy. In this paper, we present information gathered from a survey with export-oriented firms in the Canadian IT service industry and consultations with industry associations aimed at shedding light on this small but highly dynamic sector. Content Type(s): Staff research, Staff discussion papers JEL Code(s): D, D2, D22, L, L8, L86, O, O3, O33 Research Theme(s): Structural challenges, Demographics and labour supply, Digitalization and productivity, International trade, finance and competitiveness
February 10, 2021 Payments innovation beyond the pandemic Remarks (delivered virtually) Timothy Lane Institute for Data Valorisation Montréal, Quebec Deputy Governor Timothy Lane talks about how the Bank of Canada is contributing to the modernization of our payments ecosystem, and how the COVID-19 pandemic has highlighted the need to make payments more convenient for all Canadians. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Currency, Digital currency, Financial system, Financial markets, Fintech, Funds management
December 18, 2006 A Summary of the Bank of Canada Conference on Fixed-Income Markets, 3–4 May 2006 Bank of Canada Review - Winter 2006-2007 Gregory Bauer, Scott Hendry The Bank of Canada's interest in fixed-income markets spans several of its functional areas of responsibility, including monetary policy, funds management, and financial system stability and efficiency. For that reason, the 2006 conference brought together top academics and central bankers from around the world to discuss leading-edge work in the field of fixed-income research. The papers and discussions cover such topics as the efficiency of fixed-income markets, price formation, the determinants of the yield curve, and volatility modelling. This article provides a short summary of each conference paper and the ensuing discussion. Content Type(s): Publications, Bank of Canada Review articles
Cyclicality of Schooling: New Evidence from Unobserved Components Models Staff working paper 2020-38 Barbara Sadaba, Sunčica Vujič, Sofia Maier What is the time-varying impact of economic cycles on decisions to invest in human capital? Content Type(s): Staff research, Staff working papers JEL Code(s): C, C3, C32, E, E3, I, I2, J, J2 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Real economy and forecasting
Public and Private Money Creation for Distributed Ledgers: Stablecoins, Tokenized Deposits, or Central Bank Digital Currencies? Staff working paper 2024-35 Jonathan Chiu, Cyril Monnet This paper explores the implications of introducing digital public and private monies (e.g. tokenized central bank digital currency [CBDC] or tokenized deposits) for stablecoins and illicit crypto transactions. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E5, E50, E58 Research Theme(s): Monetary policy, Monetary policy tools and implementation, Money and payments, Digital assets and fintech, Payment and financial market infrastructures
October 22, 2006 ToTEM: The Bank of Canada's New Projection and Policy-Analysis Model Bank of Canada Review - Autumn 2006 Paul Fenton, Stephen Murchison The Terms-of-Trade Economic Model, or ToTEM, replaced the Quarterly Projection Model (QPM) in December 2005 as the Bank's principal projection and policy-analysis model for the Canadian economy. Benefiting from advances in economic modelling and computer power, ToTEM builds on the strengths of QPM, allowing for optimizing behaviour on the part of firms and households, both in and out of steady state, in a multi-product environment. The authors explain the motivation behind the development of ToTEM, provide an overview of the model and its calibration, and present several simulations to illustrate its key properties, concluding with some indications of how the model is expected to evolve going forward. Content Type(s): Publications, Bank of Canada Review articles
December 3, 2009 Improving the Resilience of Core Funding Markets Financial System Review - December 2009 Jean-Sébastien Fontaine, Jack Selody, Carolyn A. Wilkins Content Type(s): Publications, Financial System Review articles
Competing Currencies in the Laboratory Staff working paper 2017-53 Janet Hua Jiang, Cathy Zhang We investigate competition between two intrinsically worthless currencies as a result of decentralized interactions between human subjects. We design a laboratory experiment based on a simple two-country, two-currency search model to study factors that affect circulation patterns and equilibrium selection. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C9, C92, D, D8, D83, E, E4, E40 Research Theme(s): Financial markets and funds management, International markets and currencies, Models and tools, Economic models, Money and payments, Digital assets and fintech
December 14, 2009 Financial System Review - December 2009 Conditions in the international financial system have improved considerably since June in response to the forceful actions taken by policy-makers around the world.FSR Highlights - December 2009 Content Type(s): Publications, Financial Stability Report