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55
result(s)
Bitcoin Awareness, Ownership and Use: 2016–20
Staff Discussion Paper 2022-10
Daniela Balutel,
Marie-Hélène Felt,
Gradon Nicholls,
Marcel Voia
In this paper, we examine trends in Canadian ownership of Bitcoin and other cryptocurrencies from 2016 to 2020 using data from surveys conducted by the Bank of Canada.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Bank notes,
Digital currencies and fintech,
Econometric and statistical methods
JEL Code(s):
C,
C1,
C12,
E,
E4,
O,
O5,
O51
Best Before? Expiring Central Bank Digital Currency and Loss Recovery
Staff Working Paper 2021-67
Charles M. Kahn,
Maarten van Oordt,
Yu Zhu
We consider introducing an expiry date for offline digital currency balances. Consumers whose digital cash expired would automatically receive the funds back into their online account. This functionality could increase demand for digital cash, with the time to expiry playing a key role.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Digital currencies and fintech
JEL Code(s):
E,
E4,
E41,
E42
Predicting the Demand for Central Bank Digital Currency: A Structural Analysis with Survey Data
Staff Working Paper 2021-65
Jiaqi Li
How much of a CBDC would Canadian households want to hold, and what design features of a CBDC would they care about?
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Central bank research,
Digital currencies and fintech
JEL Code(s):
E,
E5,
E50,
E58
Central Bank Digital Currency and Banking: Macroeconomic Benefits of a Cash-Like Design
Staff Working Paper 2021-63
Jonathan Chiu,
Mohammad Davoodalhosseini
Should a CBDC be more like cash or bank deposits? An interest-bearing, cash-like CBDC not only makes payments more efficient but also increases total demand. This has positive effects on other transactions, inducing more deposit taking and lending and, thus, bank intermediation.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Digital currencies and fintech,
Monetary policy,
Monetary policy framework
JEL Code(s):
E,
E5,
E50,
E58
Revisiting the Monetary Sovereignty Rationale for CBDCs
Staff Discussion Paper 2021-17
Skylar Brooks
One argument for central bank digital currencies (CBDCs) is that without them, private and foreign digital monies could displace domestic currencies, threatening the central bank’s monetary policy and lender of last resort capabilities. I revisit this monetary sovereignty rationale and offer a wider view—one that considers a broader set of currency functions and captures important cross-country variation.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Debt management,
Digital currencies and fintech,
Exchange rate regimes,
Financial stability,
Monetary policy
JEL Code(s):
E,
E4,
E41,
E42,
E5,
E52,
E58,
H,
H1,
H12,
H6,
H63
Bitcoin Adoption and Beliefs in Canada
Staff Working Paper 2021-60
Daniela Balutel,
Christopher Henry,
Jorge Vásquez,
Marcel Voia
Using an economic model as well as survey data from the Bank of Canada, we study what factors influence the adoption of Bitcoin in Canada.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Digital currencies and fintech,
Econometric and statistical methods,
Economic models
JEL Code(s):
D,
D8,
D83,
O,
O3,
O33
The Positive Case for a CBDC
Staff Discussion Paper 2021-11
Andrew Usher,
Edona Reshidi,
Francisco Rivadeneyra,
Scott Hendry
We discuss the competition and innovation arguments for issuing a central bank digital currency (CBDC). A CBDC could be an effective competition policy tool for payments. A CBDC could also support the vibrancy of the digital economy. It could help solve market failures and foster competition and innovation in new digital payments markets.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Digital currencies and fintech,
Financial institutions,
Financial stability
JEL Code(s):
E,
E4,
E42,
E5,
E58,
L,
L4,
L5
An Exploration of First Nations Reserves and Access to Cash
Staff Discussion Paper 2021-8
Heng Chen,
Walter Engert,
Kim Huynh,
Daneal O’Habib
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.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Bank notes,
Digital currencies and fintech,
Financial institutions,
Financial services,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E41,
E42,
E5,
G,
G2,
G21
Payments on Digital Platforms: Resiliency, Interoperability and Welfare
Staff Working Paper 2021-19
Jonathan Chiu,
Tsz-Nga Wong
This paper studies the business model choice between running a cash platform and a token platform, as well as its welfare and policy implications.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Digital currencies and fintech,
Monetary policy,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E5,
L,
L5