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2976 Results

Should the Central Bank Issue E-money?

Staff Working Paper 2018-58 Charles M. Kahn, Francisco Rivadeneyra, Tsz-Nga Wong
Should a central bank take over the provision of e-money, a circulable electronic liability? We discuss how e-money technology changes the tradeoff between public and private provision, and the tradeoff between e-money and a central bank's existing liabilities like bank notes and reserves.

Predicting Canadian Recessions Using Financial Variables: A Probit Approach

Staff Working Paper 1998-5 Joseph Atta-Mensah, Greg Tkacz
This paper examines the ability of a number of financial variables to predict Canadian recessions. Regarding methodology, we follow closely the technique employed by Estrella and Mishkin (1998), who use a probit model to predict U.S. recessions up to eight quarters in advance. Our main finding is that the spread between the yield on Canadian […]
Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Interest rates JEL Code(s): E, E3, E32, E4, E43

Understanding Productivity: A Review of Recent Technical Research

Staff Discussion Paper 2008-3 Richard Dion, Robert Fay
The authors provide an extensive review of the rapidly expanding research on productivity, both at the macro and micro levels. They focus primarily on papers written about Canada, but also draw on selected studies from other countries, especially the United States, where such work sheds important light on particular aspects of productivity growth. The authors […]
Content Type(s): Staff research, Staff discussion papers Research Topic(s): Productivity JEL Code(s): D, D2, D24, O, O3, O31, O4, O40, O47
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