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9262 Results

Non-Parametric Identification and Testing of Quantal Response Equilibrium

Staff Working Paper 2024-24 Johannes Hoelzemann, Ryan Webb, Erhao Xie
We show that the utility function and the error distribution are non-parametrically over-identified under Quantal Response Equilibrium (QRE). This leads to a simple test for QRE. We illustrate our method in a Monte Carlo exercise and a laboratory experiment.

Demand for Canadian Banknotes from International Travel: Indirect Evidence from the COVID-19 Pandemic

Staff Working Paper 2024-23 Hongyu Xiao
This study uses the COVID-19 travel restrictions to estimate foreign demand for Canadian banknotes. It reveals that international visitors accounted for about 10% of all $100 CAD notes in circulation pre-pandemic, with each visitor carrying an average of $165 in hundred-dollar bills.

The Role of Beliefs in Entering and Exiting the Bitcoin Market

We develop a model that links investors’ decisions to enter or exit the Bitcoin market with their beliefs about the survival of Bitcoin. Empirical testing using Canadian data reveals that beliefs strongly influence both entries and exits, and this impact varies with time and ownership status.
June 13, 2024

CBC Radio

Sharon Kozicki, Deputy Governor of the Bank of Canada
Interview with CBC’s radio show All in a Day

Content Type(s): Press, Media activities
June 13, 2024

Speech: BIS Toronto Innovation Hub Centre

Objectives and pillars of the Toronto Innovation Hub Centre — Governor Tiff Macklem participates in a fireside chat at the opening ceremony of the BIS Toronto Innovation Hub Centre (13:00 (ET) approx.).

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