An Overview of the Indigenous Economy in Canada Staff Discussion Paper 2023-25 Alex Chernoff, Calista Cheung Several measures suggest economic outcomes have improved for Indigenous Peoples in recent decades. Yet, institutional settings and gaps in infrastructure and financing continue to hinder their economic progress. Recent efforts have helped address some data gaps, and new institutions are helping Indigenous communities to overcome historic barriers to growth. Content Type(s): Staff research, Staff discussion papers Topic(s): Central bank research, Development economics, Financial services, Labour markets, Monetary policy transmission, Regional economic developments JEL Code(s): E, E0, E01, E02, N, N4, N41, N42, O, O4, O43, P, P4, P48
Transition Scenarios for Analyzing Climate-Related Financial Risk Staff Discussion Paper 2022-1 Y.-H. Henry Chen, Erik Ens, Olivier Gervais, Hossein Hosseini, Craig Johnston, Serdar Kabaca, Miguel Molico, Sergey Paltsev, Alex Proulx, Argyn Toktamyssov Climate transition scenarios clarify climate-related risks to our economy and financial system. This paper summarizes key results of Canada-relevant scenarios developed in a pilot project on climate risk by the Bank of Canada and the Office of the Superintendent of Financial Institutions. Content Type(s): Staff research, Staff discussion papers Topic(s): Climate change, Economic models, Financial stability, International topics JEL Code(s): C, C6, C68, D, D5, D58, E, E5, E50, O, O4, O44, P, P1, P18, Q, Q5, Q54
Democratic Political Economy of Financial Regulation Staff Working Paper 2021-59 Igor Livshits, Youngmin Park We offer a theory of how inefficiently lax financial regulation could arise in a democratic society. Content Type(s): Staff research, Staff working papers Topic(s): Financial stability, Financial system regulation and policies, Housing, Interest rates JEL Code(s): E, E4, E43, E44, G, G0, G01, G2, G21, G28, P, P4, P48
Scenario Analysis and the Economic and Financial Risks from Climate Change Staff Discussion Paper 2020-3 Erik Ens, Craig Johnston This paper adapts climate-economy models that have been applied in other contexts for use in climate-related scenario analysis. We consider illustrative scenarios for the global economy that could generate economic and financial risks. Our results suggest there are significant economic risks from climate change and the move to a low-carbon economy. Content Type(s): Staff research, Staff discussion papers Topic(s): Climate change, Economic models, Financial stability, International topics JEL Code(s): C, C6, C68, D, D5, D58, E, E5, E50, O, O4, O44, P, P1, P18, Q, Q4, Q5, Q54, Q55
Crypto ‘Money’: Perspective of a Couple of Canadian Central Bankers Staff Discussion Paper 2019-1 James Chapman, Carolyn A. Wilkins The market for cryptoassets has exploded in size in the 10 years since bitcoin was launched. The technology underlying cryptoassets, blockchain, has also been held up as a technology that promises to transform entire industries. Content Type(s): Staff research, Staff discussion papers Topic(s): Bank notes, Digital currencies and fintech, Financial services, Payment clearing and settlement systems JEL Code(s): E, E4, E41, E42, E5, E51, E58, H, H4, P, P4, P43
Blockchain-Based Settlement for Asset Trading Staff Working Paper 2018-45 Jonathan Chiu, Thorsten Koeppl Can securities be settled on a blockchain and, if so, what are the gains relative to existing settlement systems? We consider a blockchain that ensures delivery versus payment by linking transfers of assets with payments and operates using a proof-of-work protocol. The main benefit of a blockchain is faster and more flexible settlement, whereas the challenge is to avoid settlement fails when participants fork the chain to get rid of trading losses. Content Type(s): Staff research, Staff working papers Topic(s): Digital currencies and fintech, Economic models, Financial markets, Payment clearing and settlement systems JEL Code(s): G, G2, H, H4, P, P4, P43
Incentive Compatibility on the Blockchain Staff Working Paper 2018-34 Jonathan Chiu, Thorsten Koeppl A blockchain is a digital ledger that keeps track of a record of ownership without the need for a designated party to update and enforce changes to the record. The updating of the ledger is done directly by the users of the blockchain and is traditionally governed by a proof-of-work (PoW) protocol. Content Type(s): Staff research, Staff working papers Topic(s): Digital currencies and fintech, Economic models, Payment clearing and settlement systems JEL Code(s): G, G2, H, H4, P, P4, P43
Institutional Quality, Trade, and the Changing Distribution of World Income Staff Working Paper 2006-19 Brigitte Desroches, Michael Francis Conventional wisdom holds that institutional changes and trade liberalization are two main sources of growth in per capita income around the world. Content Type(s): Staff research, Staff working papers Topic(s): Development economics, International topics JEL Code(s): F, F1, F11, F15, O, O1, O11, P, P4, P48