Gradon Nicholls

Economist

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Bio

Gradon is an Economist. He completed his BMath in Statistics at the University of Waterloo, and is currently pursuing an MA in Economics at Carleton University. His research interests include payment choice modelling and two sided markets.


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Staff Analytical Notes

2018 Merchant Acceptance Survey

Staff Analytical Note 2019-31 Kim Huynh, Gradon Nicholls, Mitchell Nicholson
In 2015, the Bank of Canada surveyed merchants and found that cash was nearly universally accepted (Fung, Huynh and Kosse 2017). Since 2015, retail payments in Canada have become increasingly digitalized, as many Canadians have adopted digital payment innovations like contactless cards and Interac e-Transfer.

Bitcoin Awareness and Usage in Canada: An Update

Staff Analytical Note 2018-23 Christopher Henry, Kim Huynh, Gradon Nicholls
The results of our 2017 Bitcoin Omnibus Survey (December 12 to 15, 2017) when compared with those from 2016 show that Bitcoin “awareness” increased from 64 to 85 per cent, while ownership increased from 2.9 to 5.0 per cent. Most Bitcoin purchasers are using the cryptocurrency as an investment and not as a means of payment for goods or services.

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Staff Discussion Papers

Cash and COVID-19: The impact of the pandemic on demand for and use of cash

Consumer spending declined significantly during the recent COVID-19 pandemic. This negative shock likely reduced spending across all methods of payment (cash, debit, credit, etc.). The mix of payment methods consumers use could also be affected. We study how the pandemic has influenced the demand for and use of cash. We also offer insights into the use of other payment methods, such as debit and credit cards.

2018 Bitcoin Omnibus Survey: Awareness and Usage

The Bank of Canada continues to use the Bitcoin Omnibus Survey (BTCOS) to monitor trends in Canadians’ awareness, ownership and use of Bitcoin. The most recent iteration was conducted in late 2018, following an 85 percent decline in the price of Bitcoin throughout the year.

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Staff Working Papers

Explaining the Interplay Between Merchant Acceptance and Consumer Adoption in Two-Sided Markets for Payment Methods

Staff Working Paper 2019-32 Kim Huynh, Gradon Nicholls, Oleksandr Shcherbakov
Recent consumer and merchant surveys show a decrease in the use of cash at the point of sale. Increasingly, consumers and merchants have access to a growing array of payment innovations as substitutes for cash.

Bitcoin Awareness and Usage in Canada

Staff Working Paper 2017-56 Christopher Henry, Kim Huynh, Gradon Nicholls
There has been tremendous discussion of Bitcoin, digital currencies and FinTech. However, there is limited empirical evidence of Bitcoin’s adoption and usage. We propose a methodology to collect a nationally representative sample using the Bitcoin Omnibus Survey (BTCOS) to track the ubiquity and usage of Bitcoin in Canada.

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