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2094 Results

August 18, 2011

Developing a Medium-Term Debt-Management Strategy for the Government of Canada

As the Government of Canada’s fiscal agent, the Bank of Canada provides strategic policy advice on the management of the government’s debt, in addition to being responsible for conducting debt-management operations. In this article, the authors review the evolution of the debt strategy over the past 20 years and outline the complex process of developing a sound strategy that balances various cost and risk considerations. This includes an examination of the tools and practices used to develop the new medium-term debt-management strategy, such as the modelling approach involved, market consultations and various debt-management metrics.

Central Bank Communication That Works: Lessons from Lab Experiments

Staff working paper 2019-21 Oleksiy Kryvtsov, Luba Petersen
We use controlled laboratory experiments to test the causal effects of central bank communication on economic expectations and to distinguish the underlying mechanisms of those effects. In an experiment where subjects learn to forecast economic variables, we find that central bank communication has a stabilizing effect on individual and aggregate outcomes and that the size of the effect varies with the type of communication.

Estimating the Appropriate Quantity of Settlement Balances in a Floor System

Staff discussion paper 2023-26 Narayan Bulusu, Matthew McNeely, Kaetlynd McRae, Jonathan Witmer
This paper presents two complementary approaches to estimating the appropriate quantity of settlement balances needed to effectively operate monetary policy under a floor system in Canada.
May 15, 2001

www.bankofcanada.ca—The Bank on the World Wide Web

This article by the Bank's Web master details the development of the Bank's Web site and highlights some of its special features. It includes a description of dataBANK, a custom-built interface to the Bank's economic databases that gives visitors access to 220 data series. It also provides a mini tour of monetary policy material "on site," as well as a taste of things to come. Above all, this article invites you to come and visit our site.

Why Fixed Costs Matter for Proof-of-Work Based Cryptocurrencies

Staff working paper 2020-27 Rodney J. Garratt, Maarten van Oordt
Can Bitcoin survive? Some say it will become vulnerable to attacks as the rewards for processing Bitcoin transactions continue to decline. The economics of fixed costs suggest the specialized hardware used to mine Bitcoin may be key to its survival.

Central Bank Digital Currencies and Banking: Literature Review and New Questions

We review the nascent but fast-growing literature on central bank digital currencies (CBDCs), focusing on their potential impacts on private banks. We evaluate these impacts in three areas of traditional banking: payments, lending and liquidity and maturity transformation. We also take a broader look at CBDCs and highlight two promising directions for future research.

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.
May 13, 2014

Bank of Canada Review - Spring 2014

The five articles in this issue present research and analysis by Bank staff covering a variety of topics: the growth of Canadian-dollar-denominated assets in official foreign reserves; the emergence of platform-based digital currencies; methods of forecasting the real price of oil; measures of uncertainty in monetary policy; and the recent performance of the labour market in Canada and the United States.

Incorporating Trip-Chaining to Measuring Canadians’ Access to Cash

Staff working paper 2025-16 Heng Chen, Hongyu Xiao
Our paper employs smartphone data to construct an improved cash access metric by accounting for both spatial agglomeration and households’ travel patterns. We find that incorporating trip-chaining into the travel metric could show that travel costs are from 15 to 25% less than not incorporating trip-chaining and that the biggest decrease is driven by rural residents.
Content Type(s): Staff research, Staff working papers JEL Code(s): D, D1, D12, O, O1, O18, R, R2, R22, R4, R41 Research Theme(s): Money and payments, Cash and bank notes
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