Research - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T05:56:13+00:00COVID-19 and Financial Stability: Practice Ahead of Theory
https://www.bankofcanada.ca/2022/08/staff-discussion-paper-2022-18/
The COVID-19 pandemic uncovered policy challenges related to the economic measures that were taken to support the economy. Two years later, we attempt to identify the broader impact of these measures and research that needs to follow.2022-08-26T12:56:19+00:00enCOVID-19 and Financial Stability: Practice Ahead of Theory2022-08-26Coronavirus disease (COVID-19)Financial stabilityFinancial system regulation and policiesStaff Discussion Paper 2022-18https://www.bankofcanada.ca/wp-content/uploads/2022/08/sdp2022-18.pdfStaff Discussion Paper 2022-18Jing YangHélène DesgagnésGrzegorz HalajYaz TerajimaAugust 2022EE5E58E6E61GG2G21HH3H8H84Cash, COVID-19 and the Prospects for a Canadian Digital Dollar
https://www.bankofcanada.ca/2022/08/staff-discussion-paper-2022-17/
We provide an analysis of cash trends in Canada before and during the COVID-19 pandemic. We also consider the potential two scenarios for issuance of a central bank digital currency in Canada: the emergence of a cashless society or the widespread use of an alternative digital currency in Canada. Finally, we discuss the Canadian experience in maintaining cash as an efficient and accessible method of payment and store of value.2022-08-26T09:20:22+00:00enCash, COVID-19 and the Prospects for a Canadian Digital Dollar2022-08-26Bank notesCentral bank researchCoronavirus disease (COVID-19)Digital currencies and fintechEconometric and statistical methodsStaff Discussion Paper 2022-17https://www.bankofcanada.ca/wp-content/uploads/2022/08/sdp2022-17.pdfStaff Discussion Paper 2022-17Walter EngertKim HuynhAugust 2022CC1C12C9EE4OO5O54BoC–BoE Sovereign Default Database: What’s new in 2022?
https://www.bankofcanada.ca/2022/08/staff-analytical-note-2022-11/
The BoC–BoE database of sovereign debt defaults, published and updated annually by the Bank of Canada and the Bank of England, provides comprehensive estimates of stocks of government obligations in default.2022-08-23T10:00:57+00:00enBoC–BoE Sovereign Default Database: What’s new in 2022?2022-08-23Has wage setting changed in Canada? Evidence from the pre-pandemic 2020 Wage-Setting Survey
https://www.bankofcanada.ca/2022/08/staff-analytical-note-2022-10/
Just before the pandemic began, the Bank of Canada conducted the 2020 Wage-Setting Survey. The goal was to explore the unusual trend of subdued wage growth in 2018 and 2019 despite a tightening in the labour market. Although this wage puzzle was beginning to resolve at the time of the survey, results highlight changes in several factors that may have important impacts on wage dynamics.2022-08-19T12:00:30+00:00enHas wage setting changed in Canada? Evidence from the pre-pandemic 2020 Wage-Setting Survey2022-08-19Risk and State-Dependent Financial Frictions
https://www.bankofcanada.ca/2022/08/staff-working-paper-2022-37/
Using a nonlinear New Keynesian model with a financial accelerator, we show that financial frictions generate large state-dependent amplification effects. Shocks propagate more strongly in periods of financial stress. We propose an endogenous regime-switching DSGE framework for efficient estimation and improved model fit.2022-08-09T13:00:13+00:00enRisk and State-Dependent Financial Frictions2022-08-09Central bank researchCredit and credit aggregatesFinancial stabilityMonetary policyStaff Working Paper 2022-37https://www.bankofcanada.ca/wp-content/uploads/2022/08/swp2022-37.pdfStaff Working Paper 2022-37Martin HardingRafael WoutersAugust 2022EE5E52E58Weather the Storms? Hurricanes, Technology and Oil Production
https://www.bankofcanada.ca/2022/08/staff-working-paper-2022-36/
Do technological improvements mitigate the potential damages from extreme weather events? We show that hurricanes lower offshore oil production in the Gulf of Mexico and that stronger storms have larger impacts. Regulations enacted in 1980 that required improved offshore construction standards only modestly mitigated the production losses.2022-08-09T11:48:11+00:00enWeather the Storms? Hurricanes, Technology and Oil Production2022-08-09Business fluctuations and cyclesClimate changePotential outputStaff Working Paper 2022-36https://www.bankofcanada.ca/wp-content/uploads/2022/08/swp2022-36.pdfWeather the Storms? Hurricanes, Technology and Oil ProductionJohan BrannlundGeoffrey R. DunbarReinhard EllwangerMatthew KrutkiewiczAugust 2022CC2C22C23QQ4Q40Q48Q5Q54PayTech and the D(ata) N(etwork) A(ctivities) of BigTech Platforms
https://www.bankofcanada.ca/2022/08/staff-working-paper-2022-35/
Why do BigTech platforms introduce payment services? We explore this using a model in which a monopoly platform faces a trade-off between the costs associated with privacy concerns and the revenue from data services. We then analyze the feedback effects between data and payments.2022-08-04T07:27:04+00:00enPayTech and the D(ata) N(etwork) A(ctivities) of BigTech Platforms2022-08-04Digital currencies and fintechPayment clearing and settlement systemsStaff Working Paper 2022-35https://www.bankofcanada.ca/wp-content/uploads/2022/08/swp2022-35.pdfPayTech and the D(ata) N(etwork) A(ctivities) of BigTech PlatformsJonathan ChiuThorsten KoepplAugust 2022DD8EE4E42LL1