D - Microeconomics - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T22:39:22+00:00Losing Contact: The Impact of Contactless Payments on Cash Usage
https://www.bankofcanada.ca/2020/12/staff-working-paper-2020-56/
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. 2020-12-29T09:32:24+00:00enLosing Contact: The Impact of Contactless Payments on Cash Usage2020-12-29Bank notesDigital currencies and fintechEconometric and statistical methodsFinancial servicesStaff Working Paper 2020-56https://www.bankofcanada.ca/wp-content/uploads/2020/12/swp2020-56.pdfStaff Working Paper 2020-56Marie-Hélène FeltDecember 2020CC3C33DD1D12EE4E41A Reference Guide for the Business Outlook Survey
https://www.bankofcanada.ca/2020/12/staff-discussion-paper-2020-15/
The Business Outlook Survey (BOS) has become an important part of monetary policy deliberations at the Bank of Canada and is also well known in Canadian policy and financial circles. This paper compiles more than 20 years of experience conducting the BOS and serves as a comprehensive reference manual.2020-12-23T10:13:15+00:00enA Reference Guide for the Business Outlook Survey2020-12-23Firm dynamicsRegional economic developmentsStaff Discussion Paper 2020-15https://www.bankofcanada.ca/wp-content/uploads/2020/12/sdp2020-15.pdfStaff Discussion Paper 2020-15David AmiraultNaveen RaiLaurent MartinDecember 2020CC8C83DD2D22EE3E32Strategic Uncertainty in Financial Markets: Evidence from a Consensus Pricing Service
https://www.bankofcanada.ca/2020/12/staff-working-paper-2020-55/
We look at the informational content of consensus pricing in opaque over-the-counter markets. We show that the availability of price data informs participants mainly about other participants’ valuations, rather than about the value of a financial security.2020-12-18T11:28:49+00:00enStrategic Uncertainty in Financial Markets: Evidence from a Consensus Pricing Service2020-12-18Financial institutionsFinancial marketsMarket structure and pricingStaff Working Paper 2020-55https://www.bankofcanada.ca/wp-content/uploads/2020/12/swp2020-55.pdfStrategic Uncertainty in Financial Markets: Evidence from a Consensus Pricing ServiceLerby ErgunAndreas UthemannDecember 2020CC5C58DD5D53D8D83GG1G12G14Towards a HANK Model for Canada: Estimating a Canadian Income Process
https://www.bankofcanada.ca/2020/12/staff-discussion-paper-2020-13/
How might one simulate a million realistic income paths and compute their statistical moments in under a second? Using CUDA-based methods to estimate the Canadian earnings process, I find that the distribution of labour income growth is sharply peaked with heavy tails—similar to that in the United States.2020-12-11T09:42:20+00:00enTowards a HANK Model for Canada: Estimating a Canadian Income Process2020-12-11Economic modelsLabour marketsStaff Discussion Paper 2020-13https://www.bankofcanada.ca/wp-content/uploads/2020/12/sdp2020-13.pdfTowards a HANK Model for Canada: Estimating a Canadian Income ProcessIskander KaribzhanovDecember 2020DD3D31EE2E24JJ3J31The Determinants of Consumers’ Inflation Expectations: Evidence from the US and Canada
https://www.bankofcanada.ca/2020/11/staff-working-paper-2020-52/
We compare the determinants of consumer inflation expectations in the US and Canada by analyzing two current surveys. We find that Canadian consumers rely more on professional forecasts and the history of actual inflation when forming their expectations, while US consumers rely more on their own lagged expectations.2020-11-30T10:31:53+00:00enThe Determinants of Consumers’ Inflation Expectations: Evidence from the US and Canada2020-11-30Central bank researchEconometric and statistical methodsInflation and pricesInflation targetsStaff Working Paper 2020-52https://www.bankofcanada.ca/wp-content/uploads/2020/11/swp2020-52.pdfThe Determinants of Consumers’ Inflation Expectations: Evidence from the US and CanadaCharles BellemareRolande Kpekou TossouKevin MoranNovember 2020CC3C33DD8D83D84EE3E31Corporate investment and monetary policy transmission in Canada
https://www.bankofcanada.ca/2020/11/staff-analytical-note-2020-26/
Unexpected changes in interest rates lead small firms to materially change their investment rate. Large firms, in contrast, show a smaller response. This suggests both that financial conditions are an important channel for transmitting monetary policy and that firm characteristics can help us better understand fluctuations in business investment.2020-11-02T15:00:35+00:00enCorporate investment and monetary policy transmission in Canada2020-11-02Production Networks and the Propagation of Commodity Price Shocks
https://www.bankofcanada.ca/2020/11/staff-working-paper-2020-44/
We examine the macro implications of commodity price shocks in a model with multiple production sectors that are interconnected within a commodity-exporting small open economy.2020-11-02T14:52:20+00:00enProduction Networks and the Propagation of Commodity Price Shocks2020-11-02Business fluctuations and cyclesInternational topicsStaff Working Paper 2020-44https://www.bankofcanada.ca/wp-content/uploads/2020/11/swp2020-44.pdfStaff Working Paper 2020-44Shutao CaoWei DongNovember 2020DD5D57FF4F41Outside Investor Access to Top Management: Market Monitoring versus Stock Price Manipulation
https://www.bankofcanada.ca/2020/10/staff-working-paper-2020-43/
Should managers be paid in stock options if they provide stock-market participants with information about the firm? This paper studies how firm owners trade off the benefit of stock-price incentives and better-informed market participants against the cost of potential stock-price manipulation.2020-10-29T10:00:47+00:00enOutside Investor Access to Top Management: Market Monitoring versus Stock Price Manipulation2020-10-29Economic modelsFinancial marketsRecent economic and financial developmentsStaff Working Paper 2020-43https://www.bankofcanada.ca/wp-content/uploads/2020/10/swp2020-43.pdfOutside Investor Access to Top Management: Market Monitoring versus Stock Price ManipulationJosef SchrothOctober 2020DD8D82D86GG1G14G3G32G34MM1M12M4M41Forward Guidance and Expectation Formation: A Narrative Approach
https://www.bankofcanada.ca/2020/09/staff-working-paper-2020-40/
How exactly does forward guidance influence interest rate expectations?2020-09-28T13:31:15+00:00enForward Guidance and Expectation Formation: A Narrative Approach2020-09-28Central bank researchMonetary policyMonetary policy communicationsMonetary policy transmissionStaff Working Paper 2020-40https://www.bankofcanada.ca/wp-content/uploads/2020/09/swp2020-40.pdfStaff Working Paper 2020-40Christopher S. SutherlandSeptember 2020DD8D83D84EE3E37E5E52E58Child Skill Production: Accounting for Parental and Market-Based Time and Goods Investments
https://www.bankofcanada.ca/2020/09/staff-working-paper-2020-36/
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.2020-09-11T13:15:39+00:00enChild Skill Production: Accounting for Parental and Market-Based Time and Goods Investments2020-09-11Fiscal policyLabour marketsPotential outputProductivityStaff Working Paper 2020-36https://www.bankofcanada.ca/wp-content/uploads/2020/09/SWP-2020-36.pdfStaff Working Paper 2020-36Elizabeth CaucuttLance LochnerJoseph MullinsYoungmin ParkSeptember 2020DD1D13HH3H31JJ2J22J24