Jozsef Molnar

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Staff Analytical Notes

Explaining Unusual Cash Patterns in 2018

Staff Analytical Note 2019-22 Walter Engert, Ben Fung, Jozsef Molnar, Gradon Nicholls
There was an unusually large decline of bank notes in circulation in October 2018. Some have argued that this was due to the legalization of cannabis in Canada in mid-October.

Staff Working Papers

Demand for Payment Services and Consumer Welfare: The Introduction of a Central Bank Digital Currency

Using a two-stage model, we study the determinants of Canadian consumers’ choices of payment method at the point of sale. We estimate consumer preferences and adoption costs for various combinations of payment methods. We analyze how introducing a central bank digital currency would affect the market equilibrium.