Digitalization: Prices of Goods and Services Staff discussion paper 2023-27 Vivian Chu, Tatjana Dahlhaus, Christopher Hajzler This paper outlines and assesses the various channels through which digitalization can affect prices of goods and services. Content Type(s): Staff research, Staff discussion papers JEL Code(s): D, D2, E, E3, E31, E5, E52, L, L1, L11 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Structural challenges, Digitalization and productivity
Natural disasters and inflation in Canada Staff analytical note 2025-8 Thibaut Duprey, Victoria Fernandes How do storms, floods and wildfires affect consumer prices? In the short term, natural disasters can significantly increase volatility in Canada-wide inflation. Over the long term, natural disasters influence inflation in shelter prices, especially when provincial output is already weak relative to trend. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E3, E31, Q, Q5, Q54 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Structural challenges, Climate change
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
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. Content Type(s): Publications, Bank of Canada Review
September 14, 2016 (S)low for Long and Financial Stability Remarks Carolyn A. Wilkins Official Monetary and Financial Institutions Forum City Lecture London, United Kingdom Senior Deputy Governor Carolyn Wilkins discusses the financial stability risks associated with slow growth and low interest rates, and explores strategies to mitigate them. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial markets, Financial stability, Monetary policy, Economic models, Economy/Economic growth
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
The Positive Case for a CBDC Staff discussion paper 2021-11 Andrew Usher, Edona Reshidi, Francisco Rivadeneyra, Scott Hendry We discuss the competition and innovation arguments for issuing a central bank digital currency (CBDC). A CBDC could be an effective competition policy tool for payments. A CBDC could also support the vibrancy of the digital economy. It could help solve market failures and foster competition and innovation in new digital payments markets. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E4, E42, E5, E58, L, L4, L5 Research Theme(s): Financial system, Financial stability and systemic risk, Money and payments, Digital assets and fintech, Payment and financial market infrastructures, Retail payments
Effects of macroprudential policy announcements on perceptions of systemic risks Staff analytical note 2025-4 Thibaut Duprey, Victoria Fernandes, Kerem Tuzcuoglu, Ruhani Walia We introduce a history of macroprudential policy (MPP) events in Canada since the 1980s. We document the short-run effects of MPP announcements on market-based measures of systemic risk and find that MPPs can influence the market’s perception of large banks’ resilience. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E5, E58, G, G2, G21, G28, G3, G32 Research Theme(s): Financial system, Financial stability and systemic risk, Financial system regulation and oversight
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
The BoC-BoE Sovereign Default Database: What’s New in 2019? Staff working paper 2019-39 David Beers, Patrisha de Leon-Manlagnit Until recently, few efforts have been made to systematically measure and aggregate the nominal value of the different types of sovereign government debt in default. To help fill this gap, the Bank of Canada (BoC) developed a comprehensive database of sovereign defaults that is posted on its website and updated in partnership with the Bank of England (BoE). Content Type(s): Staff research, Staff working papers JEL Code(s): F, F3, F34, G, G1, G10, G14, G15 Research Theme(s): Financial markets and funds management, Funds management, Financial system, Financial stability and systemic risk