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2154 Results

Privacy as a Public Good: A Case for Electronic Cash

Staff working paper 2019-24 Rodney J. Garratt, Maarten van Oordt
Cash gives users a high level of privacy when making payments, but the use of cash to make payments is declining. People increasingly use debit cards, credit cards or other methods to pay.

Losing Contact: The Impact of Contactless Payments on Cash Usage

Staff working paper 2020-56 Marie-Hélène Felt
Contactless payment cards are a competitive alternative to cash. Using Canadian panel data from 2010 to 2017, this study investigates whether contactless credit cards are an important contributor to the decline in the transactional use of cash. 
November 16, 2017

Factors Behind the 2014 Oil Price Decline

Oil prices have declined sharply over the past three years. While both supply and demand factors played a role in the large oil price decline of 2014, global supply growth seems to have been the predominant force. The most important drivers were likely the surprising growth of US shale oil production, the output decisions of the Organization of the Petro-leum Exporting Countries and the weaker-than-expected global growth that followed the 2009 global financial crisis.
Content Type(s): Publications, Bank of Canada Review articles JEL Code(s): Q, Q4, Q41, Q43

Monetary Policy and the Persistent Aggregate Effects of Wealth Redistribution

Staff working paper 2021-38 Martin Kuncl, Alexander Ueberfeldt
Monetary policy in the presence of nominal debt and labour supply heterogeneity creates a policy trade-off: a short-term economic stimulus leads to persistently reduced output over the medium term. Price-level targeting weakens this trade-off and is better able to stabilize inflation and output than inflation targeting.

Monetary Policy Governance: Bank of Canada Practices to Support Policy Effectiveness

Staff discussion paper 2024-14 Brigitte Desroches, Sharon Kozicki, Laure Simon
We examine different monetary policy governance structures and discuss the important roles of non-legislated processes and practices. We also provide an update on monetary policy governance at the Bank of Canada and how it has evolved over time.

How Do Mortgage Rate Resets Affect Consumer Spending and Debt Repayment? Evidence from Canadian Consumers

Staff working paper 2020-18 Katya Kartashova, Xiaoqing Zhou
We study the causal effect of mortgage rate changes on consumer spending, debt repayment and defaults during an expansionary and a contractionary monetary policy episode in Canada. We find asymmetric responses of consumer durable spending, deleveraging and defaults. These findings help us to understand household sector response to interest rate changes.

Child Skill Production: Accounting for Parental and Market-Based Time and Goods Investments

Can daycare replace parents’ time spent with children? We explore this by using data on how parents spend time and money on children and how this spending is related to their child’s development.
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