Cyclicality of Schooling: New Evidence from Unobserved Components Models
What is the time-varying impact of economic cycles on decisions to invest in human capital?
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1073
result(s)
Predicting Payment Migration in Canada
Staff working paper 2020-37
Anneke Kosse,
Zhentong Lu,
Gabriel Xerri
Developments are underway to replace Canada’s two core payment systems with three new systems. We use a discrete choice model to predict migration patterns of end-users and financial institutions for future systems and discuss their policy implications.
Content Type(s):
Staff research,
Staff working papers
JEL Code(s):
C,
C3,
E,
E4,
E42,
G,
G1,
G2,
G28
Research Theme(s):
Money and payments,
Payment and financial market infrastructures,
Retail payments
Child Skill Production: Accounting for Parental and Market-Based Time and Goods Investments
Staff working paper 2020-36
Elizabeth Caucutt,
Lance Lochner,
Joseph Mullins,
Youngmin Park
Can daycare replace parents’ time spent with children? We explore this by using data on how parents spend time and money on children and how this spending is related to their child’s development.
Content Type(s):
Staff research,
Staff working papers
JEL Code(s):
D,
D1,
D13,
H,
H3,
H31,
J,
J2,
J22,
J24
Research Theme(s):
Monetary policy,
Real economy and forecasting,
Structural challenges,
Demographics and labour supply
What do high-frequency expenditure network data reveal about spending and inflation during COVID‑19?
Staff analytical note 2020-20
Kim Huynh,
Helen Lao,
Patrick Sabourin,
Angelika Welte
The official consumer price index (CPI) inflation measure, based on a fixed basket set before the COVID 19 pandemic, may not fully reflect what consumers are currently experiencing. We partnered with Statistics Canada to construct a more representative index for the pandemic with weights based on real-time transaction and survey data.
Content Type(s):
Staff research,
Staff analytical notes
JEL Code(s):
D,
D1,
D12,
E,
E3,
E31,
E4,
E42,
E5,
E52
Research Theme(s):
Monetary policy,
Inflation dynamics and pressures,
Money and payments,
Payment and financial market infrastructures
The Canadian corporate investment gap
Staff analytical note 2020-19
Chris D'Souza,
Timothy Grieder,
Daniel Hyun,
Jonathan Witmer
Business investment has been lower than expected in Canada and abroad since the financial crisis of 2007–09. This corporate investment gap is mirrored in firms’ other financing decisions, as they have increased cash holdings and dividend payments and decreased issuance of debt and equity.
Content Type(s):
Staff research,
Staff analytical notes
JEL Code(s):
D,
D2,
D22,
D9,
D92,
G,
G3,
G31,
G32
Research Theme(s):
Monetary policy,
Monetary policy framework and transmission,
Real economy and forecasting
Liquidity Usage and Payment Delay Estimates of the New Canadian High Value Payments System
Staff discussion paper 2020-9
Francisco Rivadeneyra,
Nellie Zhang
As part of modernizing its core payments infrastructure, Canada will replace the Large Value Transfer System (LVTS) with a new Real-Time Gross Settlement (RTGS) system called Lynx. An important question for policy-makers is how Lynx should be designed.
Content Type(s):
Staff research,
Staff discussion papers
JEL Code(s):
C,
C5,
E,
E4,
E42,
E5,
E58
Research Theme(s):
Financial markets and funds management,
Funds management,
Money and payments,
Payment and financial market infrastructures
Why Do Central Banks Make Public Announcements of Open Market Operations?
Staff working paper 2020-35
Narayan Bulusu
Central banks communicate the results of open market operations. This helps participants in financial markets more accurately estimate the prevailing demand and supply conditions in the market for overnight loans.
Content Type(s):
Staff research,
Staff working papers
JEL Code(s):
D,
D5,
D52,
E,
E5,
E58,
G,
G2,
G21
Research Theme(s):
Financial markets and funds management,
Market functioning,
Models and tools,
Economic models,
Monetary policy,
Monetary policy tools and implementation,
Money and payments,
Payment and financial market infrastructures
2019 Cash Alternative Survey Results
Staff discussion paper 2020-8
Kim Huynh,
Gradon Nicholls,
Mitchell Nicholson
The role of cash in Canadians’ lives has been evolving, as innovations in digital payments have become more widely adopted over the past decade. We contribute to the Bank of Canada’s research on central bank digital currency by monitoring Canadians’ use of cash and their adoption of digital payment methods.
Content Type(s):
Staff research,
Staff discussion papers
JEL Code(s):
C,
C1,
C12,
C9,
E,
E4,
O,
O5,
O51
Research Theme(s):
Money and payments,
Cash and bank notes,
Digital assets and fintech
Monetary Policy and Cross-Border Interbank Market Fragmentation: Lessons from the Crisis
Staff working paper 2020-34
Tobias Blattner,
Jonathan Swarbrick
We present a two-country model featuring risky lending and cross-border interbank market frictions.
Content Type(s):
Staff research,
Staff working papers
JEL Code(s):
E,
E4,
E44,
E5,
E52,
F,
F3,
F32,
F36
Research Theme(s):
Financial markets and funds management,
International markets and currencies,
Financial system,
Financial institutions and intermediation,
Monetary policy,
Monetary policy framework and transmission,
Monetary policy tools and implementation
Survival Analysis of Bank Note Circulation: Fitness, Network Structure and Machine Learning
Staff working paper 2020-33
Diego Rojas,
Juan Estrada,
Kim Huynh,
David T. Jacho-Chávez
Using the Bank of Canada's Currency Information Management Strategy, we analyze the network structure traced by a bank note’s travel in circulation and find that the denomination of the bank note is important in our potential understanding of the demand and use of cash.
Content Type(s):
Staff research,
Staff working papers
JEL Code(s):
C,
C5,
C52,
C6,
C65,
C8,
C81,
E,
E4,
E42,
E5,
E51
Research Theme(s):
Models and tools,
Econometric, statistical and computational methods,
Money and payments,
Cash and bank notes