D - Microeconomics

• Fiscal Stimulus and Skill Accumulation over the Life Cycle

  Staff Working Paper 2023-9 Laure Simon

  Using micro data from the U.S. Consumer Expenditure Survey and Current Population Survey, I document that government spending shocks affect individuals differently over the life cycle.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Fiscal policy, Productivity JEL Code(s): D, D1, D12, D15, E, E2, E21, E6, E62, J, J1, J11, J2, J24

• Summaries of Central Bank Policy Deliberations: A Canadian Context

  Staff Discussion Paper 2023-2 Monica Jain, Walter Muiruri, Jonathan Witmer, Sharon Kozicki, Jeremy Harrison

  This paper provides the context, rationale and key considerations that informed the Bank of Canada’s decision to publish a summary of monetary policy deliberations. It includes an analysis of how other central banks disclose minutes and summaries of their monetary policy deliberations.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Monetary policy communications JEL Code(s): D, D8, D83, E, E5, E58

• Geographical and Cultural Proximity in Retail Banking

  Staff Working Paper 2023-2 Santiago Carbo-Valverde, Héctor Pérez Saiz, Hongyu Xiao

  This paper measures how both geographical and cultural proximity of bank branches affect household credit choice and pricing. For credit products that require high levels of ex-ante screening, we find that both proximities can complement each other in reducing the cost of providing soft information, thereby increasing credit access.

  Content Type(s): Staff research, Staff working papers Topic(s): Credit and credit aggregates, Financial institutions, Financial services JEL Code(s): D, D8, D82, D83, G, G2, G20, G21, R, R2, R22, Z, Z1, Z10, Z13

• The 2021–22 Merchant Acceptance Survey Pilot Study

  Staff Discussion Paper 2023-1 Angelika Welte, Joy Wu

  The rise in digital payment innovations has spurred a discussion about the future of cash at the point of sale. The Bank conducted the 2021–22 Merchant Acceptance Survey Pilot Study to study trends in merchant cash acceptance and monitor conditions for the potential issuance of a central bank digital currency.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods JEL Code(s): C, C8, D, D2, D22, E, E4, L, L2