Tsz-Nga Wong - Bank Publications - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T13:12:14+00:00Payments on Digital Platforms: Resiliency, Interoperability and Welfare
https://www.bankofcanada.ca/2021/04/staff-working-paper-2021-19/
This paper studies the business model choice between running a cash platform and a token platform, as well as its welfare and policy implications.2021-04-22T09:39:10+00:00enPayments on Digital Platforms: Resiliency, Interoperability and Welfare2021-04-22Digital currencies and fintechMonetary policyPayment clearing and settlement systemsStaff Working Paper 2021-19https://www.bankofcanada.ca/wp-content/uploads/2021/04/swp2021-19.pdfStaff Working Paper 2021-19Jonathan ChiuTsz-Nga WongApril 2021EE4E5LL5Eggs in One Basket: Security and Convenience of Digital Currencies
https://www.bankofcanada.ca/2021/01/staff-working-paper-2021-6/
Digital currencies store balances in anonymous electronic addresses. This paper analyzes the trade-offs between the safety and convenience of aggregating balances in addresses, electronic wallets and banks.2021-01-29T07:23:53+00:00enEggs in One Basket: Security and Convenience of Digital Currencies2021-01-29Central bank researchDigital currencies and fintechFinancial servicesPayment clearing and settlement systemsStaff Working Paper 2021-6https://www.bankofcanada.ca/wp-content/uploads/2021/01/swp2021-6.pdfEggs in One Basket: Security and Convenience of Digital CurrenciesCharles M. KahnFrancisco RivadeneyraTsz-Nga WongJanuary 2021EE4E42E5E51E58Should the Central Bank Issue E-money?
https://www.bankofcanada.ca/2018/12/staff-working-paper-2018-58/
Should a central bank take over the provision of e-money, a circulable electronic liability? We discuss how e-money technology changes the tradeoff between public and private provision, and the tradeoff between e-money and a central bank's existing liabilities like bank notes and reserves.2018-12-13T09:55:56+00:00enShould the Central Bank Issue E-money?2018-12-13Bank notesDigital currencies and fintechFinancial servicesPayment clearing and settlement systemsStaff Working Paper 2018-58https://www.bankofcanada.ca/wp-content/uploads/2018/12/swp2018-58.pdfShould the Central Bank Issue E-money?Charles M. KahnFrancisco RivadeneyraTsz-Nga WongDecember 2018EE4E42E5E51E58On the Essentiality of E-Money
https://www.bankofcanada.ca/2015/11/staff-working-paper-2015-43/
Recent years have witnessed the advances of e-money systems such as Bitcoin, PayPal and various forms of stored-value cards. This paper adopts a mechanism design approach to identify some essential features of different payment systems that implement and improve the constrained optimal resource allocation.2015-11-20T08:40:57+00:00enOn the Essentiality of E-Money2015-11-20Bank notesDigital currencies and fintechPayment clearing and settlement systemsStaff Working Paper 2015-43https://www.bankofcanada.ca/wp-content/uploads/2015/11/wp2015-43.pdfOn the Essentiality of E-MoneyJonathan ChiuTsz-Nga WongNovember 2015EE4E42E5E58LL5L51E-Money: Efficiency, Stability and Optimal Policy
https://www.bankofcanada.ca/2014/04/working-paper-2014-16/
What makes e-money more special than cash? Is the introduction of e-money necessarily welfare enhancing? Is an e-money system necessarily stable? What is the optimal way to design an efficient and stable e-money scheme?2014-04-28T11:22:07+00:00enE-Money: Efficiency, Stability and Optimal Policy2014-04-28Bank notesDigital currencies and fintechPayment clearing and settlement systemsWorking Paper 2014-16https://www.bankofcanada.ca/wp-content/uploads/2014/04/wp2014-16.pdfE-Money: Efficiency, Stability and Optimal PolicyJonathan ChiuTsz-Nga WongApril 2014EE4E42E5E58LL5L51A Tractable Monetary Model Under General Preferences
https://www.bankofcanada.ca/2013/03/working-paper-2013-7/
Consider the monetary model of Lagos and Wright (JPE 2005) but with general preferences and general production. I show that preferences satisfying UXXUHH – (UXH)2 = 0 is a sufficient condition for the existence and uniqueness of monetary equilibrium with degenerate money distribution.2013-03-15T11:28:52+00:00enA Tractable Monetary Model Under General Preferences2013-03-15Economic modelsWorking Paper 2013-7https://www.bankofcanada.ca/wp-content/uploads/2013/03/wp2013-07.pdfA Tractable Monetary Model Under General PreferencesTsz-Nga WongMarch 2013DD8D83EE4E40