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?
In the United States prior to 1863 each bank issued its own distinct notes. E-money shares many of the characteristics of these bank notes. This paper describes some lessons relevant to e-money from the U.S. experience with state bank notes.
The authors review recent developments in retail payments in Canada and elsewhere, with a focus on e-money products, and assess their potential public policy implications.
As noted in the Debt Management Strategy for 2014-15, the Government of Canada has been engaged in the assessment of potential benefits of issuing bonds with a maturity of 50 years.
Some Canadian sectors and regions are hot and some are not, but all will ultimately reap the benefits of the country’s rich resource endowment, even as some difficult adjustments take place, Bank of Canada Governor Stephen S. Poloz said today in Saskatoon. Canada has been adjusting to two major economic shocks in recent years, Governor […]
Bank of Canada Governor Stephen S. Poloz discusses the forces fuelling the differences between the hot - and not so hot - sectors of the economy and regions of the country.
Canada has continued to lose market share in the United States since the Great Recession, beyond what our bilateral competitiveness measures (relative unit labour costs) would suggest.