Predicting the Demand for Central Bank Digital Currency: A Structural Analysis with Survey Data Staff working paper 2021-65 Jiaqi Li How much of a CBDC would Canadian households want to hold, and what design features of a CBDC would they care about? Content Type(s): Staff research, Staff working papers JEL Code(s): E, E5, E50, E58 Research Theme(s): Monetary policy, Monetary policy tools and implementation, Money and payments, Digital assets and fintech, Retail payments
Safe Payments Staff working paper 2020-53 Jonathan Chiu, Mohammad Davoodalhosseini, Janet Hua Jiang, Yu Zhu In a cashless economy, would the private sector invest in the optimal level of safety in a deposit-based payment system? In general, because of externalities, the answer is no. While the private sector could over- or under-invest in safety, the government can use taxes or subsidies to correct private incentives. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E4, E42, E5, E50, G, G2, G21 Research Theme(s): Money and payments, Digital assets and fintech, Payment and financial market infrastructures, Retail payments
June 18, 2008 House Prices and Consumer Spending Bank of Canada Review - Summer 2008 Kimberly Beaton, Sylvie Morin, Ilan Kolet Flood, Morin, and Kolet examine the role of house prices in household consumption decisions. Considering a group of advanced economies, the authors find that the strength of the link between house prices and consumer spending depends on the institutional features of national mortgage markets. Content Type(s): Publications, Bank of Canada Review articles
August 18, 2011 Bank of Canada Review - Summer 2011 This special issue, “Real-Financial Linkages,” examines the Bank’s research using theoretical and empirical models to improve its understanding of the linkages between financial and macroeconomic developments in the wake of the recent global financial crisis. Content Type(s): Publications, Bank of Canada Review
June 19, 2008 Capitalizing on the Commodity Boom: the Role of Monetary Policy Remarks Mark Carney Haskayne School of Business Calgary, Alberta We are experiencing a commodity super cycle. Throughout the current boom, the scale of price increases has been higher, and the range of affected commodities broader, than in previous upturns. Since 2002, grain and oilseed prices have more than doubled, base metals prices have tripled, and oil prices have quadrupled. Content Type(s): Press, Speeches and appearances, Remarks
September 18, 2008 Measuring Inflation: Methodology and Misconceptions Remarks John Murray Certified General Accountants of Ontario Toronto, Ontario These past few months have been busy for central bankers, to say the least, and the past few days are certainly no exception. While developments on Wall Street have garnered much attention, the cost of living has also been an issue for us all, whether we're buying gas at the pumps, booking an airline ticket, or just picking up a loaf of bread at the grocery store. Content Type(s): Press, Speeches and appearances, Remarks
AI Agents for Cash Management in Payment Systems Staff working paper 2025-35 Iñaki Aldasoro, Ajit Desai Can artificial intelligence (AI) think and act like a cash manager? In this paper we explore how generative AI agents can help manage liquidity, prioritize payments and optimize efficiency in real-time gross settlement systems. Content Type(s): Staff research, Staff working papers JEL Code(s): A, A1, A12, C, C7, D, D8, D83, E, E4, E42, E5, E58 Research Theme(s): Financial system, Financial system regulation and oversight, Money and payments, Digital assets and fintech, Payment and financial market infrastructures, Structural challenges, Digitalization and productivity
December 14, 2009 Towards a Stress-Testing Model Consistent with the Macroprudential Approach Financial System Review - December 2009 Céline Gauthier, Alfred Lehar, Moez Souissi Content Type(s): Publications, Financial System Review articles
Understanding the Time Variation in Exchange Rate Pass-Through to Import Prices Staff discussion paper 2017-12 Rose Cunningham, Min Jae Kim, Christian Friedrich, Kristina Hess In this paper, we analyze the presence of time variation in the pass-through from the nominal effective exchange rate to import prices for 24 advanced economies over the period 1995–2015. In line with earlier studies in the literature, we find substantial heterogeneity in the level of exchange rate pass-through across countries. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E3, E31, F, F3, F31, F4, F41 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission, Structural challenges, International trade, finance and competitiveness
March 22, 2018 Financial Stability: Taking Care of Unfinished Business Remarks Carolyn A. Wilkins Rotman School of Management conference Toronto, Ontario Senior Deputy Governor Carolyn A. Wilkins discusses three areas in which work remains to be done to improve financial stability. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Currency, Digital currency, Financial system, Financial stability, Monetary policy, Economic models, Inflation targeting framework