Find Bank of Canada research by keyword, author, content type, JEL code, topic or date of publication.
Receive notification by email whenever new research is added to the website.
120
result(s)
Is Central Bank Currency Fundamental to the Monetary System?
Staff Discussion Paper 2020-2
Hanna Armelius,
Carl Andreas Claussen,
Scott Hendry
In this paper, we discuss whether the ability of individuals to convert commercial bank money (i.e., bank deposits) into central bank money is fundamentally important for the monetary system.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Bank notes,
Digital currencies and fintech,
Financial services,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E41,
E42,
E5
Demand for Payment Services and Consumer Welfare: The Introduction of a Central Bank Digital Currency
Staff Working Paper 2020-7
Kim Huynh,
Jozsef Molnar,
Oleksandr Shcherbakov,
Qinghui Yu
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.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Bank notes,
Digital currencies and fintech,
Financial services
JEL Code(s):
C,
C5,
C51,
E,
E4,
E42,
L,
L1,
L14,
L5,
L52
A Uniform Currency in a Cashless Economy
Staff Analytical Note 2020-7
Walter Engert,
Ben Fung
A number of questions can arise when considering the implications of a cashless society. This note considers whether cash is necessary for a uniform currency.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Bank notes,
Digital currencies and fintech,
Financial services,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E41,
E42,
E5
Technology Approach for a CBDC
Staff Analytical Note 2020-6
Dinesh Shah,
Rakesh Arora,
Han Du,
Sriram Darbha,
John Miedema,
Cyrus Minwalla
In this note, we highlight a range of technical options and considerations in designing a contingent system for a central bank digital currency (CBDC) in Canada and explore how these options achieve stated public policy goals.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Central bank research,
Digital currencies and fintech
JEL Code(s):
E,
E4,
E42,
E5,
E51,
O,
O3,
O31
CBDC and Monetary Sovereignty
Staff Analytical Note 2020-5
Antonio Diez de los Rios,
Yu Zhu
In an increasingly digitalized world, issuers of private digital currency can weaken central banks’ ability to stabilize the economy. By continuing to make central bank money attractive as a payment instrument in a digital world, a central bank digital currency (CDBC) could help to maintain a country’s monetary sovereignty.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Digital currencies and fintech,
Monetary policy
JEL Code(s):
E,
E5,
E52,
E58,
F,
F5,
F55,
G,
G1,
G15
CBDC and Monetary Policy
Staff Analytical Note 2020-4
Mohammad Davoodalhosseini,
Francisco Rivadeneyra,
Yu Zhu
Improving the conduct of monetary policy is unlikely to be the main motivation for central banks to issue a central bank digital currency (CBDC). While some argue that a CBDC could allow more complex transfer schemes or the ability to break below the zero lower bound, we find these benefits might be small or difficult to realize in practice.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Digital currencies and fintech,
Monetary policy,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E41,
E5,
E51,
E52
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.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Bank notes,
Digital currencies and fintech,
Econometric and statistical methods
JEL Code(s):
C,
C8,
D,
D2,
D22,
E,
E4,
L,
L2
2018 Bitcoin Omnibus Survey: Awareness and Usage
Staff Discussion Paper 2019-10
Christopher Henry,
Kim Huynh,
Gradon Nicholls,
Mitchell Nicholson
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.
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
Cashless Bank Branches in Canada
Staff Analytical Note 2019-29
Walter Engert,
Ben Fung
Cashless or tellerless bank branches have proliferated in several countries in recent years. In a cashless bank branch, teller or counter services such as cash withdrawals, deposits and cheque-cashing are not available.
Content Type(s):
Staff research,
Staff analytical notes
Topic(s):
Bank notes,
Digital currencies and fintech,
Financial services
JEL Code(s):
E,
E4,
E41,
E42,
E5,
E51