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2172 Results

Central Bank Digital Currency and Banking Choices

Staff working paper 2024-4 Jiaqi Li, Andrew Usher, Yu Zhu
To what extent does a central bank digital currency (CBDC) compete with bank deposits? To answer this question, we develop and estimate a structural model where each household chooses which financial institution to deposit their digital money with.
August 14, 1999

Passive Money, Active Money, and Monetary Policy

This article by the Bank's visiting economist examines the role of money in the transmission of monetary policy. Professor Laidler argues against the view of money as a passive variable that reacts to changes in prices, output, and interest rates but has no direct causative effect on them. He maintains that the empirical evidence supports the view of money playing an active role in the transmission mechanism. While he agrees that individual monetary aggregates can be difficult to read because of instabilities in the demand-for-money function, he argues that monetary aggregates, particularly those relating to transactions money, should have a more significant place in the hierarchy of policy variables that the Bank considers when formulating monetary policy.

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.

Understanding Systemic Risks in the Canadian Financial System

This paper reviews recent efforts to monitor and assess systemic risk in the Canadian financial system and outlines a framework for future system-wide stress testing.

Crypto ‘Money’: Perspective of a Couple of Canadian Central Bankers

Staff discussion paper 2019-1 James Chapman, Carolyn A. Wilkins
The market for cryptoassets has exploded in size in the 10 years since bitcoin was launched. The technology underlying cryptoassets, blockchain, has also been held up as a technology that promises to transform entire industries.
November 28, 2017

Shoring Up the Foundations for a More Resilient Banking System: The Development of Basel III

The authors trace the development of the Basel III standards for banking regulation. Basel III builds on two earlier frameworks, in response to weaknesses revealed during the global financial crisis. They highlight how implementation of the standards will underpin greater financial stability and provide a sound foundation for economic growth.
Content Type(s): Publications, Financial System Review articles JEL Code(s): G, G1, G2, G21, G28
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