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
May 16, 2016 The Micro and Macro of Downward Nominal Wage Rigidity Bank of Canada Review - Spring 2016 Robert Amano, Dany Brouillette, Stefano Gnocchi, Natalia Kyui The article examines the extent of downward nominal wage rigidity in Canada and its implications for monetary policy. The authors ask whether its existence is a sufficient argument for a higher inflation target if concerns about the effective lower bound are adequately addressed. Content Type(s): Publications, Bank of Canada Review articles JEL Code(s): E, E3, E4, E5, J, J2, J23, J3, J30
Data Externalities, Market Power, and the Optimal Design of Central Bank Digital Currencies Staff working paper 2026-21 Yuteng Cheng, Jonathan Chiu, Mohammad Davoodalhosseini, Janet Hua Jiang This paper studies how a central bank should design a CBDC when private payment providers collect and monetize transaction data. It characterizes the optimal CBDC’s pricing and data policy, and shows how its effects on private payment use and total data depend on market power and data externalities. Content Type(s): Staff research, Staff working papers JEL Code(s): G, G2, L, L1, L14 Research Theme(s): Money and payments, Digital assets and fintech, Payment and financial market infrastructures, Retail payments
A Spatial Model of Bank Branches in Canada Staff working paper 2020-4 Heng Chen, Matthew Strathearn Using data on bank branch locations across Canada from 2008 to 2018, we explore an interesting aspect of bank branch competition—geographic concentration. We find that bank branch density does not correlate with geographic and market concentration; however, we do find strong correlation with postal-code demographics. Content Type(s): Staff research, Staff working papers JEL Code(s): L, L1, R, R3 Research Theme(s): Financial markets and funds management, Market structure, Financial system, Financial institutions and intermediation
January 25, 2012 Collateral Portfolios and Adverse Dependence Financial System Review - December 2007 Alejandro García, Ramazan Gençay Content Type(s): Publications, Financial System Review articles
August 22, 2009 Some Considerations on Using Monetary Policy to Stabilize Economic Activity Remarks Mark Carney symposium sponsored by the Federal Reserve Bank of Kansas City Jackson Hole, Wyoming Walsh's paper highlights many useful lessons that can be learned from the conventional framework and its various extensions. However, the financial crisis provides a stark and costly reminder of just how incomplete the standard model is. Content Type(s): Press, Speeches and appearances, Remarks
Firm Dynamics and Multifactor Productivity: An Empirical Exploration Staff working paper 2018-15 Pierre St-Amant, David Tessier There are indications that business dynamism has declined in advanced economies. In particular, firm entry and exit rates have fallen, suggesting that the creative destruction process has lost some of its vitality. Meanwhile, productivity growth has slowed. Some believe that lower entry and exit rates partly explain the weaker productivity growth. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D2, D24, M, M1, M13, O, O4, O47 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Digitalization and productivity
November 1, 2006 Renewal of the Inflation-Control Target (November 2006) Commentary and technical data relating to the 2006 target renewal. Content Type(s): Background materials
How Fast Can China Grow? The Middle Kingdom’s Prospects to 2030 Staff working paper 2016-15 Jeannine Bailliu, Mark Kruger, Argyn Toktamyssov, Wheaton Welbourn Given its size and importance for global commodity markets, the question of how fast the Chinese economy can grow over the medium term is an important one. This paper addresses this question by examining the evolution of the supply side of the Chinese economy over history and projecting how it will evolve over the next 15 years. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E22, E23, E3, E32, O, O4 Research Theme(s): Models and tools, Economic models, Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply, Digitalization and productivity
Are Hedge Funds a Hedge for Increasing Government Debt Issuance? Staff discussion paper 2025-7 Adam Epp, Jeffrey Gao This paper studies the rapid increase since 2019 of Government of Canada (GoC) debt issuance alongside greater hedge fund participation at GoC bond auctions. We find a systematic relationship between GoC debt stock and hedge fund bidding shares at auction. Content Type(s): Staff research, Staff discussion papers JEL Code(s): D, D4, D44, G, G1, G12, G2, G23, H, H6, H63 Research Theme(s): Financial markets and funds management, Funds management, Financial system, Financial institutions and intermediation, Financial stability and systemic risk