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 JEL Code(s): E, E5, E50, E58 Research Theme(s): Monetary policy, Monetary policy tools and implementation, Money and payments, Digital assets and fintech, Retail payments
February 16, 2023 No two ways about it: Why the Bank is committed to getting back to 2% Remarks Paul Beaudry Alberta School of Business Edmonton, Alberta Deputy Governor Paul Beaudry discusses the benefits of being near the Bank’s 2% inflation target and the dangers of straying from it for too long. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Monetary policy, Economy/Economic growth, Inflation, Inflation targeting framework
Natural disasters and inflation in Canada Staff analytical note 2025-8 Thibaut Duprey, Victoria Fernandes How do storms, floods and wildfires affect consumer prices? In the short term, natural disasters can significantly increase volatility in Canada-wide inflation. Over the long term, natural disasters influence inflation in shelter prices, especially when provincial output is already weak relative to trend. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E3, E31, Q, Q5, Q54 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Structural challenges, Climate change
August 18, 2011 Bank of Canada Review - Summer 2011 This special issue, “Real-Financial Linkages,” examines the Bank’s research using theoretical and empirical models to improve its understanding of the linkages between financial and macroeconomic developments in the wake of the recent global financial crisis. Content Type(s): Publications, Bank of Canada Review
Broker Routing Decisions in Limit Order Markets Staff working paper 2016-50 David Cimon The primary focus of this paper is to study conflict of interest in the brokerage market. Brokers face a conflict of interest when the commissions they receive from investors differ from the costs imposed by different trading venues. Content Type(s): Staff research, Staff working papers JEL Code(s): G, G2, G24, G28 Research Theme(s): Financial markets and funds management, Market functioning, Market structure
Financial Inclusion—What’s it Worth? Staff working paper 2016-30 Miguel Ampudia, Michael Ehrmann The paper studies the determinants of being unbanked in the euro area and the United States as well as the effects of being unbanked on wealth accumulation. Based on household-level data from The Eurosystem Household Finance and Consumption Survey and the U.S. Survey of Consumer Finances, it first documents that there are, respectively, 3.6 per cent and 7.5 per cent of unbanked households in the two economies. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D1, D14, G, G2, G21, G28 Research Theme(s): Financial system, Financial institutions and intermediation, Financial stability and systemic risk, Household and business credit
June 21, 2006 Financial System Review - June 2006 The financial system makes an important contribution to the welfare of all Canadians. The ability of households and firms to confidently hold and transfer financial assets is one of the fundamental building blocks of the Canadian economy. Content Type(s): Publications, Financial Stability Report
The Output-Inflation Trade-off in Canada Staff discussion paper 2024-7 Stefano Gnocchi, Fanny McKellips, Rodrigo Sekkel, Laure Simon, Yinxi Xie, Yang Zhang We explain how the Bank of Canada’s policy models capture the trade-off between output and inflation in Canada. We provide new estimates of the trade-off and contrast them with those in the Bank’s macroeconomic models. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E3, E31, E5, E52 Research Theme(s): Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission
Model Uncertainty and Wealth Distribution Staff working paper 2019-48 Edouard Djeutem, Shaofeng Xu This paper studies the implications of model uncertainty for wealth distribution in a tractable general equilibrium model with a borrowing constraint and robustness à la Hansen and Sargent (2008). Households confront model uncertainty about the process driving the return of the risky asset, and they choose robust policies. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D3, D8, E, E2 Research Theme(s): Financial system, Household and business credit, Models and tools, Economic models, Monetary policy, Real economy and forecasting
December 21, 2008 Good Policies or Good Fortune: What Drove the Compression in Emerging- Market Spreads? Financial System Review - December 2008 Philipp Maier, Garima Vasishtha Content Type(s): Publications, Financial System Review articles