Heng Chen - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T15:20:42+00:00How Far Do Canadians Need to Travel to Access Cash?
https://www.bankofcanada.ca/2023/11/staff-discussion-paper-2023-28/
This paper develops a travel-based metric to measure Canadians’ access to cash from automated banking machines (ABMs) and financial institution branches. We find that, overall, access to cash remained stable between 2019 and 2022. The total number of ABMs in Canada increased by 3.7% and the total number of branches decreased by 5.2% during that period.2023-11-16T14:45:18+00:00enHow Far Do Canadians Need to Travel to Access Cash?2023-11-16Bank notesFinancial servicesRegional economic developmentsStaff Discussion Paper 2023-28https://www.bankofcanada.ca/wp-content/uploads/2023/11/sdp2023-28.pdfHow Far Do Canadians Need to Travel to Access Cash?Heng ChenDaneal O’HabibHongyu XiaoNovember 2023GG2G21JJ1J15RR5R51Canadians’ Access to Cash Before and During the COVID-19 Pandemic
https://www.bankofcanada.ca/2022/07/staff-discussion-paper-2022-15/
This paper studies Canadians’ access to cash using the geographical distribution of automated banking machines (ABMs). During the pandemic, there have been no sustained adverse effects on cash accessibility.2022-07-14T08:39:43+00:00enCanadians’ Access to Cash Before and During the COVID-19 Pandemic2022-07-14Financial servicesRegional economic developmentsStaff Discussion Paper 2022-15https://www.bankofcanada.ca/wp-content/uploads/2022/07/sdp2022-15.pdfStaff Discussion Paper 2022-15Heng ChenMarie-Hélène FeltJuly 2022JJ1J15OO1RR5R51Identifying Financially Remote First Nations Reserves
https://www.bankofcanada.ca/2022/05/staff-discussion-paper-2022-11/
Chen et al. (2021) show that almost one-third of First Nations band offices in Canada are within 1 kilometre (km) of an automated banking machine (ABM) or financial institution (FI) branch and more than half are within 5 km.2022-05-03T13:16:11+00:00enIdentifying Financially Remote First Nations Reserves2022-05-03Bank notesDigital currencies and fintechFinancial institutionsFinancial servicesPayment clearing and settlement systemsStaff Discussion Paper 2022-11https://www.bankofcanada.ca/wp-content/uploads/2022/05/sdp2022-11.pdfIdentifying Financially Remote First Nations ReservesHeng ChenWalter EngertKim HuynhDaneal O’HabibMay 2022EE4E41E42E5GG2G21Cash and COVID-19: What happened in 2021
https://www.bankofcanada.ca/2022/04/staff-discussion-paper-2022-8/
Using data from the Bank Note Distribution System and consumer surveys, we find that bank notes in circulation remained high through 2021. Canadians continued to rely on electronic methods of payment, but a significant share also continued using cash for payments.2022-04-14T12:24:16+00:00enCash and COVID-19: What happened in 20212022-04-14Bank notesCentral bank researchCoronavirus disease (COVID-19)Digital currencies and fintechEconometric and statistical methodsStaff Discussion Paper 2022-8https://www.bankofcanada.ca/wp-content/uploads/2022/04/sdp2022-8.pdfCash and COVID-19: What happened in 2021Heng ChenWalter EngertKim HuynhDaneal O’HabibJoy WuJulia ZhuApril 2022CC1C12C9EE4OO5O54Cash and COVID-19: The impact of the second wave in Canada
https://www.bankofcanada.ca/2021/07/staff-discussion-paper-2021-12/
The COVID-19 pandemic significantly increased the demand for cash. Cash in circulation increased sharply from March through December 2020, particularly in the early months of this period. Although use of electronic methods of payment also increased significantly, cash use for payments remains high for low-value transactions and among certain demographic groups.2021-07-23T15:11:14+00:00enCash and COVID-19: The impact of the second wave in Canada2021-07-23Bank notesCentral bank researchCoronavirus disease (COVID-19)Digital currencies and fintechEconometric and statistical methodsStaff Discussion Paper 2021-12https://www.bankofcanada.ca/wp-content/uploads/2021/07/sdp2021-12.pdfStaff Discussion Paper 2021-12Heng ChenWalter EngertMarie-Hélène FeltKim HuynhGradon NichollsDaneal O’HabibJulia ZhuJuly 2021CC1C12C9EE4OO5O54Consumer Cash Withdrawal Behaviour: Branch Networks and Online Financial Innovation
https://www.bankofcanada.ca/2021/06/staff-working-paper-2021-28/
The physical network of bank branches is important in how consumers manage their cash holdings. This paper estimates how consumer withdrawal behaviour responds to the distance they must travel to their branch.2021-06-17T15:48:36+00:00enConsumer Cash Withdrawal Behaviour: Branch Networks and Online Financial Innovation2021-06-17Bank notesDigital currencies and fintechStaff Working Paper 2021-28https://www.bankofcanada.ca/wp-content/uploads/2021/06/swp2021-28.pdfStaff Working Paper 2021-28Heng ChenMatthew StrathearnMarcel VoiaJune 2021GG2G21RR2R22An Exploration of First Nations Reserves and Access to Cash
https://www.bankofcanada.ca/2021/05/staff-discussion-paper-2021-8/
Adequate cash distribution is one the Bank of Canada’s core interests. Canadians’ ability to access cash influences the Bank’s thinking on issuing a central bank digital currency. We provide a perspective on these issues by exploring access of First Nations reserves to cash.2021-05-26T07:15:38+00:00enAn Exploration of First Nations Reserves and Access to Cash2021-05-26Bank notesDigital currencies and fintechFinancial institutionsFinancial servicesPayment clearing and settlement systemsStaff Discussion Paper 2021-8https://www.bankofcanada.ca/wp-content/uploads/2021/05/sdp2021-8.pdfAn Exploration of First Nations Reserves and Access to CashHeng ChenWalter EngertKim HuynhDaneal O’HabibMay 2021EE4E41E42E5GG2G21Cash and COVID-19: The Effects of Lifting Containment Measures on Cash Demand and Use
https://www.bankofcanada.ca/2021/03/staff-discussion-paper-2021-3/
Using Bank Note Distribution System data on the demand for cash up to September 2020, we find that demand was strong. This is true even though cash use for payments declined early in the pandemic. When mobility restrictions and lockdown measures were eased, cash use for payments increased sharply but remained less popular than electronic methods of payment.2021-03-02T11:40:06+00:00enCash and COVID-19: The Effects of Lifting Containment Measures on Cash Demand and Use2021-03-02Bank notesCentral bank researchCoronavirus disease (COVID-19)Digital currencies and fintechEconometric and statistical methodsStaff Discussion Paper 2021-3https://www.bankofcanada.ca/wp-content/uploads/2021/03/sdp2021-3.pdfCash and COVID-19: The Effects of Lifting Containment Measures on Cash Demand and UseHeng ChenWalter EngertKim HuynhGradon NichollsJulia ZhuMarch 2021CC1C12C9EE4OO5O54Cash and COVID-19: The impact of the pandemic on demand for and use of cash
https://www.bankofcanada.ca/2020/07/staff-discussion-paper-2020-6/
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.2020-07-02T14:00:28+00:00enCash and COVID-19: The impact of the pandemic on demand for and use of cash2020-07-02Bank notesCentral bank researchCoronavirus disease (COVID-19)Digital currencies and fintechEconometric and statistical methodsHeng ChenWalter EngertKim HuynhGradon NichollsMitchell NicholsonJulia ZhuJuly 2020CC1C12C9EE4OO5O54A Spatial Model of Bank Branches in Canada
https://www.bankofcanada.ca/2020/02/staff-working-paper-2020-4/
Using data on bank branch locations across Canada from 2008 to 2018, we explore an interesting aspect of bank branch competition—geographic concentration. We find that bank branch density does not correlate with geographic and market concentration; however, we do find strong correlation with postal-code demographics.2020-02-06T11:57:14+00:00enA Spatial Model of Bank Branches in Canada2020-02-06Firm dynamicsMarket structure and pricingStaff Working Paper 2020-4https://www.bankofcanada.ca/wp-content/uploads/2020/02/swp2020-4.pdfA Spatial Model of Bank Branches in CanadaHeng ChenMatthew StrathearnFebruary 2020LL1RR3