January 25, 2012 Bank of Canada Oversight Activities during 2006 under the Payment Clearing and Settlement Act Financial System Review - June 2007 Clyde Goodlet Content Type(s): Publications, Financial System Review articles
January 23, 2004 Bank of Canada Review - Winter 2003-2004 Cover page Brass Cash Register, 1910 The register is part of the National Currency Collection, Bank of Canada. Photographed by Gord Carter, Ottawa. Content Type(s): Publications, Bank of Canada Review
December 23, 2003 The Comparative Growth of Goods and Services Prices Bank of Canada Review - Winter 2003-2004 Edith Gagnon, Patrick Sabourin, Sébastien Lavoie For several decades, the prices of services have been rising more rapidly than the prices of goods in Canada and the other major industrialized countries. In 2002, this gap between the growth rates of these two components of the consumer price index (CPI) widened considerably, leading researchers to ask if this was the beginning of a trend. Analysis reveals, however, that the gap is based on short-term dynamics and that it appears to be independent of the trend in the development of the overall price level. Evidence also shows that the gap is eventually reabsorbed. The authors examine a number of potential causes for the prices of services to rise faster than those of goods. These include the more rapid pace of productivity growth in the goods sector, the greater openness of goods to foreign trade, and stronger growth in the demand for services. Content Type(s): Publications, Bank of Canada Review articles
CBDC and Monetary Policy Staff analytical note 2020-4 Mohammad Davoodalhosseini, Francisco Rivadeneyra, Yu Zhu Improving the conduct of monetary policy is unlikely to be the main motivation for central banks to issue a central bank digital currency (CBDC). While some argue that a CBDC could allow more complex transfer schemes or the ability to break below the zero lower bound, we find these benefits might be small or difficult to realize in practice. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E4, E41, E5, E51, E52 Research Theme(s): Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation, Money and payments, Digital assets and fintech
November 16, 2016 Follow the Money: A Canadian Perspective on Financial Globalization Remarks Timothy Lane Centre for International Governance Innovation (CIGI) Waterloo, Ontario Deputy Governor Timothy Lane discusses the benefits and challenges of international capital mobility. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Currency, Digital currency, Financial system, Financial markets, Financial stability, Monetary policy, Economy/Economic growth
On What States Do Prices Depend? Answers from Ecuador Staff working paper 2016-43 Craig Benedict, Mario J. Crucini, Anthony Landry In this paper, we argue that differences in the cost structures across sectors play an important role in firms’ decisions to adjust their prices. We develop a menu-cost model of pricing in which retail firms intermediate trade between producers and consumers. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E3, E5, F, F3, F33 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission
Fiscal Policy in the Age of COVID-19: Does It “Get in All of the Cracks”? Staff working paper 2022-45 Pierre-Olivier Gourinchas, Şebnem Kalemli-Özcan, Veronika Penciakova, Nicholas Sander The COVID-19 pandemic has caused an atypical recession in which some sectors of the economy boomed and others collapsed. This required a unique fiscal policy reaction to both support firms and stimulate activity in sectors with slack. Was fiscal policy able to get where it was needed? Mostly, yes. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D5, D57, E, E6, E62, F, F4, F41 Research Theme(s): Financial system, Financial stability and systemic risk, Household and business credit, Monetary policy, Real economy and forecasting, Structural challenges, International trade, finance and competitiveness
June 20, 2010 The Impact of the Financial Crisis on Cross-Border Funding Financial System Review - June 2010 Harri Vikstedt, Jonathan Witmer, Yaz Terajima Content Type(s): Publications, Financial System Review articles
Wait a Minute: The Efficacy of Discounting versus Non-Pecuniary Payment Steering Staff working paper 2016-8 Angelika Welte Merchants who accept credit cards face payment processing fees. In most countries, the no-surcharge rule prohibits them from using surcharges to pass these fees on to customers. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D1, D12, E, E5, E58, G, G2, G28 Research Theme(s): Financial markets and funds management, Market structure, Money and payments, Retail payments
June 21, 2007 The Impact of Electronic Trading Platforms on the Brokered Interdealer Market for Government of Canada Benchmark Bonds Financial System Review - June 2007 Natasha Khan Content Type(s): Publications, Financial System Review articles