Staff discussion papers are completed staff research studies on a wide variety of subjects relevant to central bank policy.
282
result(s)
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
Adoption of Digital Technologies: Insights from a Global Survey Initiative
Staff Discussion Paper 2021-7
James Fudurich,
Lena Suchanek,
Lise Pichette
Firms are at the forefront of adopting new technology. Using survey data from a global network of central banks, we assess the effects of digitalization on firms’ pricing and employment decisions.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Firm dynamics,
Inflation and prices,
Labour markets
JEL Code(s):
D,
D2,
D22,
E,
E3,
E31,
J,
J2,
J21,
O,
O3,
O33
Stablecoin Assessment Framework
Staff Discussion Paper 2021-6
Alejandro García,
Bena Lands,
Dennis Yanchus
We offer relevant authorities a three-step assessment framework they can use to understand, identify and quantify the risks associated with stablecoin and other cryptocurrency arrangements.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Digital currencies and fintech,
Financial institutions,
Financial markets,
Financial system regulation and policies,
Payment clearing and settlement systems
JEL Code(s):
D,
D7,
D78,
D8,
D81,
G,
G0,
G01,
G1,
G18,
O,
O3,
O38
Occasionally Binding Constraints in Large Models: A Review of Solution Methods
Staff Discussion Paper 2021-5
Jonathan Swarbrick
Solving macroeconomic models is difficult. One challenge is the occasionally binding constraint of the zero lower bound on nominal interest rates. This paper reviews various ways to solve models that include this feature.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Business fluctuations and cycles,
Economic models
JEL Code(s):
C,
C6
Complementarities Between Fiscal Policy and Monetary Policy—Literature Review
Staff Discussion Paper 2021-4
Wei Dong,
Geoffrey R. Dunbar,
Christian Friedrich,
Dmitry Matveev,
Romanos Priftis,
Lin Shao
This paper surveys and summarizes the literature on how fiscal policy and monetary policy can complement each other in stabilizing economic activity.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Fiscal policy,
Monetary policy
JEL Code(s):
E,
E5,
E52,
E58,
E6,
E62,
E63
Cash and COVID-19: The Effects of Lifting Containment Measures on Cash Demand and Use
Staff Discussion Paper 2021-3
Heng Chen,
Walter Engert,
Kim Huynh,
Gradon Nicholls,
Julia Zhu
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.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Bank notes,
Central bank research,
Coronavirus disease (COVID-19),
Digital currencies and fintech,
Econometric and statistical methods
JEL Code(s):
C,
C1,
C12,
C9,
E,
E4,
O,
O5,
O54
COVID-19 Crisis: Lessons Learned for Future Policy Research
Staff Discussion Paper 2021-2
Jean-Sébastien Fontaine,
Corey Garriott,
Jesse Johal,
Jessica Lee,
Andreas Uthemann
One year later, we review the events that took place in Canadian fixed-income markets at the beginning of the COVID-19 crisis and propose potential policy research questions for future work.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Coronavirus disease (COVID-19),
Financial markets,
Monetary policy
JEL Code(s):
D,
D4,
D47,
E,
E4,
E41,
E5,
G,
G0,
G01,
G1,
G14,
G2,
G20,
G21,
G23
Qualitative Field Research in Monetary Policy Making
Staff Discussion Paper 2021-1
Chris D'Souza,
Jane Voll
Central banks conduct research involving in-depth interviews with external parties—but little is known about how this information affects monetary policy. We address this gap by analyzing open-ended interviews with senior central bank economic and policy staff who work closely with policy decision-makers.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Business fluctuations and cycles,
Monetary policy,
Monetary policy and uncertainty
JEL Code(s):
C,
C8,
C83,
E,
E3,
E37,
E5,
E52
Implementation and Effectiveness of Extended Monetary Policy Tools: Lessons from the Literature
Staff Discussion Paper 2020-16
Grahame Johnson,
Sharon Kozicki,
Romanos Priftis,
Lena Suchanek,
Jonathan Witmer,
Jing Yang
This paper summarizes the literature on the performance of various extended monetary policy tools when conventional policy rates are constrained by the effective lower bound. We highlight issues that may arise when these tools are used by central banks of small open economies.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Monetary policy,
Monetary policy implementation,
Monetary policy transmission
JEL Code(s):
E,
E5,
E52,
E58,
E6,
E63