Jonathan Chiu - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T21:17:35+00:00Decentralized finance: Innovations and challenges
https://www.bankofcanada.ca/2023/10/staff-analytical-note-2023-15/
Decentralized finance surged in popularity around 2020. We explore its value and limitations and highlight some potential regulatory concerns.2023-10-16T14:00:22+00:00enDecentralized finance: Innovations and challenges2023-10-16Understanding DeFi Through the Lens of a Production-Network Model
https://www.bankofcanada.ca/2023/08/staff-working-paper-2023-42/
We develop a production-network model to capture how decentralized finance (DeFi) has evolved across different sectors of financial services. The model allows us to measure the value added by different DeFi sectors and to study how the connections across the sectors influence token prices.2023-08-15T12:06:06+00:00enUnderstanding DeFi Through the Lens of a Production-Network Model2023-08-15Digital currencies and fintechPayment clearing and settlement systemsStaff Working Paper 2023-42https://www.bankofcanada.ca/wp-content/uploads/2023/08/swp2023-42.pdfUnderstanding DeFi Through the Lens of a Production-Network ModelJonathan ChiuThorsten KoepplHanna YuShengxing ZhangAugust 2023GG2On the Fragility of DeFi Lending
https://www.bankofcanada.ca/2023/02/staff-working-paper-2023-14/
We develop a dynamic model to capture key features of decentralized finance lending. We identify a price-liquidity feedback: the market outcome in any given period depends on agents' expectations about lending activities in future periods, with higher future price expectations leading to more lending and higher prices in that period.2023-02-22T12:31:21+00:00enOn the Fragility of DeFi Lending2023-02-22Digital currencies and fintechFinancial stabilityStaff Working Paper 2023-14https://www.bankofcanada.ca/wp-content/uploads/2023/02/swp2023-14.pdfOn the Fragility of DeFi LendingJonathan ChiuEmre OzdenorenKathy YuanShengxing ZhangFebruary 2023GG0G01G1G10Central Bank Digital Currencies and Banking: Literature Review and New Questions
https://www.bankofcanada.ca/2023/02/staff-discussion-paper-2023-4/
We review the nascent but fast-growing literature on central bank digital currencies (CBDCs), focusing on their potential impacts on private banks. We evaluate these impacts in three areas of traditional banking: payments, lending and liquidity and maturity transformation. We also take a broader look at CBDCs and highlight two promising directions for future research.2023-02-10T07:41:01+00:00enCentral Bank Digital Currencies and Banking: Literature Review and New Questions2023-02-10Central bank researchDigital currencies and fintechFinancial institutionsFinancial stabilityStaff Discussion Paper 2023-4https://www.bankofcanada.ca/wp-content/uploads/2023/02/sdp2023-4.pdfCentral Bank Digital Currencies and Banking: Literature Review and New QuestionsJames ChapmanJonathan ChiuMohammad DavoodalhosseiniJanet Hua JiangFrancisco RivadeneyraYu ZhuFebruary 2023EE5E50E58GG0G00LL0L00