The Elements of the Global Network for Large-Value Funds Transfers Staff Working Paper 2001-1 James Dingle The author describes the various elements of the global payment network for large-value funds transfers (G-LVTN) in order to provide a convenient reference document intended for readers in the academic, legal, and financial communities. Content Type(s): Staff research, Staff working papers Research Topic(s): Payment clearing and settlement systems JEL Code(s): E, E4, E40, E6, E61
July 26, 2021 Historical Assets Eligible as Collateral under the Bank of Canada’s Standing Liquidity Facility – July 26, 2021 to January 30, 2025 The Bank of Canada (the Bank), through its Standing Liquidity Facility (SLF), provides access to liquidity to those institutions that participate directly in Lynx. Content Type(s): Collateral Policy Source(s): Standing Liquidity Facility
February 2, 2010 Historical Assets Eligible as Collateral under the Bank of Canada’s Standing Liquidity Facility – February 2, 2010 to July 18, 2010 The Bank of Canada, through its Standing Liquidity Facility (SLF), provides access to liquidity to those institutions that participate directly in the Large Value Transfer System (LVTS). Content Type(s): Collateral Policy Source(s): Standing Liquidity Facility
Should the Central Bank Issue E-money? Staff Working Paper 2018-58 Charles M. Kahn, Francisco Rivadeneyra, Tsz-Nga Wong Should a central bank take over the provision of e-money, a circulable electronic liability? We discuss how e-money technology changes the tradeoff between public and private provision, and the tradeoff between e-money and a central bank's existing liabilities like bank notes and reserves. Content Type(s): Staff research, Staff working papers Research Topic(s): Bank notes, Digital currencies and fintech, Financial services, Payment clearing and settlement systems JEL Code(s): E, E4, E42, E5, E51, E58
A Structural VAR Approach to the Intertemporal Model of the Current Account Staff Working Paper 2003-42 Takashi Kano The intertemporal current account approach predicts that the current account of a small open economy is independent of global shocks, and that responses of the current account to country-specific shocks depend on the persistence of the shocks. The author shows that these predictions impose cross-equation restrictions (CERS) on a structural vector autoregression (SVAR). Content Type(s): Staff research, Staff working papers Research Topic(s): Balance of payments and components, Monetary aggregates JEL Code(s): F, F3, F32, F4, F41
Does Indexation Bias the Estimated Frequency of Price Adjustment? Staff Working Paper 2007-15 Maral Kichian, Oleksiy Kryvtsov We assess the implications of price indexation for estimated frequency of price adjustment in sticky price models of business cycles. These models predominantly assume that non-reoptimized prices are indexed to lagged or average inflation. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Economic models, Inflation and prices JEL Code(s): E, E3, E31, E37
Swedish Riksbank Notes and Enskilda Bank Notes: Lessons for Digital Currencies Staff Working Paper 2018-27 Ben Fung, Scott Hendry, Warren E. Weber This paper examines the experience of Sweden with government notes and private bank notes to determine how well the Swedish experience corresponds to that of Canada and the United States. Sweden is important to study because it has had government notes in circulation for more than 350 years, and it had government notes before private bank notes. Content Type(s): Staff research, Staff working papers Research Topic(s): Bank notes, Digital currencies and fintech, Financial services JEL Code(s): E, E4, E41, E42, E5, E58
Optimization in a Simulation Setting: Use of Function Approximation in Debt Strategy Analysis Staff Working Paper 2007-13 David Bolder, Tiago Rubin The stochastic simulation model suggested by Bolder (2003) for the analysis of the federal government's debt-management strategy provides a wide variety of useful information. It does not, however, assist in determining an optimal debt-management strategy for the government in its current form. Content Type(s): Staff research, Staff working papers Research Topic(s): Debt management, Econometric and statistical methods, Financial markets, Fiscal policy JEL Code(s): C, C0, C1, C14, C15, C5, C51, C52, C6, C61, C65, E, E6, G, G1, H, H6, H63
April 7, 2009 Price-Level Uncertainty, Price-Level Targeting, and Nominal Debt Contracts Bank of Canada Review - Spring 2009 Allan Crawford, Césaire Meh, Yaz Terajima Many central banks around the world have embraced inflation targeting as a monetary policy framework. Interest is growing, however, in price-level targeting as an alternative. The choice of frameworks has important consequences for financial contracts, most of which are not fully indexed to the price level. Changes in the price level therefore lead to changes in the real value of contracts. Content Type(s): Publications, Bank of Canada Review articles Research Topic(s): Inflation targets, Inflation: costs and benefits, Monetary policy framework
Digitalization: Labour Markets Staff Discussion Paper 2023-16 Alex Chernoff, Gabriela Galassi In this paper, the authors assess the relationship between digitalization and labour demand and supply, and how this relationship affects wages and income inequality. We also explore implications of recent digitalization trends for the future of work. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Digitalization, Labour markets JEL Code(s): I, I2, I23, J, J2, J23, J24, O, O3, O33