August 4, 2010 Fellowship Award Annual research grants and expense allowances for a term of up to five years.
Central Bank Digital Currency: Motivations and Implications Staff discussion paper 2017-16 Walter Engert, Ben Fung The emergence of digital currencies such as Bitcoin and the underlying blockchain and distribution ledger technology have attracted significant attention. These developments have raised the possibility of considerable impacts on the financial system and perhaps the wider economy. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E4, E41, E42, E5 Research Theme(s): Monetary policy, Monetary policy tools and implementation, Money and payments, Digital assets and fintech, Payment and financial market infrastructures
To Tokenize, or Not to Tokenize: The Design Question for a Central Bank Digital Currency Staff working paper 2026-14 Jonathan Chiu, Cyril Monnet, Oliver Junye Xu This paper develops a general equilibrium model to assess central bank digital currency (CBDC) design in a monetary system where traditional banks and “crypto banks” (i.e., banks that issue stablecoins) coexist. We compare tokenized and non-tokenized CBDC, showing that their desirability depends on the reliability of private money provision, the availability of collateral assets and the features of the crypto sector. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E5, E50, E58 Research Theme(s): Money and payments, Digital assets and fintech, Payment and financial market infrastructures
June 21, 2009 Procyclicality and Bank Capital Financial System Review - June 2009 Neville Arjani Content Type(s): Publications, Financial System Review articles
Women in economics: What data from top universities reveal about gender equity Sparks at Bank article Gabriela Galassi In the field of economics, on average, women tend to produce fewer research articles and be cited less often than men. But this appears to be changing. A newly compiled dataset about scholars at top universities around the world helps us identify where individual gender gaps exist. Content Type(s): Staff research, Sparks at Bank article Research Theme(s): Structural challenges, Demographics and labour supply
An Empirical Analysis of Bill Payment Choices Staff working paper 2021-23 Anneke Kosse How do Canadians pay their bills? 2019 survey data collected from over 4,000 Canadian consumers show how people’s bill payment choices vary with consumer characteristics and types of bills. The data also reveal that many consumers feel limited in their choices, which suggests that preferences of billers might play an important role as well. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D1, D9, G, G2 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Money and payments, Retail payments
November 14, 2013 Bank of Canada Review - Autumn 2013 The three articles in this issue provide an overview of the monetary policy decision-making process at the Bank of Canada, a discussion of Bank research on the assessment of vulnerabilities in the financial system and a description of recent fragmentation in Canadian equity markets. Content Type(s): Publications, Bank of Canada Review
Potential output in Canada: 2025 assessment Staff analytical note 2025-14 Selam Abraham, Dany Brouillette, Alex Chernoff, Christopher Hajzler, Stéphanie Houle, Mark Kim, Temel Taskin We explore two scenarios for potential output growth to gain insights into the economic consequences associated with different possible trade policies. Scenario 1 includes limited US tariffs on Canadian exports. Scenario 2 adds a permanent, broad-based 25% increase in US tariffs on imports from all countries excluding Canada and Mexico. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E2, E3, E4, E5 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply, Digitalization and productivity
Macroeconomic Predictions Using Payments Data and Machine Learning Staff working paper 2022-10 James Chapman, Ajit Desai We demonstrate the usefulness of payment systems data and machine learning models for macroeconomic predictions and provide a set of econometric tools to overcome associated challenges. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C5, C53, C55, E, E3, E37, E4, E42, E5, E52 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Real economy and forecasting, Money and payments, Retail payments
Climate Variability and International Trade Staff working paper 2023-8 Geoffrey R. Dunbar, Walter Steingress, Ben Tomlin This paper quantifies the impact of hurricanes on seaborne international trade to the United States. Matching the timing of hurricane–trade route intersections with monthly U.S. port-level trade data, we isolate the unanticipated effects of a hurricane hitting a trade route using two separate identification schemes: an event study and a local projection. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C2, C22, C5, F, F1, F14, F18, Q, Q5, Q54 Research Theme(s): Structural challenges, Climate change, International trade, finance and competitiveness