Demographics and the Demand for Currency Staff Working Paper 2014-59 Geoffrey R. Dunbar I use data from the Bank of Canada’s Bank Note Distribution System and exploit a natural experiment offered by the timing of Easter in the Gregorian calendar to analyze the effects of demographic change for currency demand. Content Type(s): Staff research, Staff working papers Research Topic(s): Bank notes, Econometric and statistical methods JEL Code(s): C, C3, C31, C36, E, E4, E41
August 19, 2010 Monetary Policy and the Zero Bound on Nominal Interest Rates Bank of Canada Review - Summer 2010 Robert Amano, Malik Shukayev The recent financial crisis and global economic slowdown have renewed interest in monetary policy options when the policy interest rate is at or near zero. Content Type(s): Publications, Bank of Canada Review articles Research Topic(s): Inflation targets, Monetary policy framework
Estimating the Costs of Electronic Retail Payment Networks: A Cross-Country Meta Analysis Staff Discussion Paper 2025-17 Cam Donohoe, Youming Liu We explore how many electronic funds transfer (EFT) systems can viably coexist within a jurisdiction at efficient scale by estimating the cost curve of the average EFT. We estimate the marginal cost to be approximately $0.55 per transaction, and the fixed cost to be approximately $83 million per year. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial institutions, Financial system regulation and policies, Payment clearing and settlement systems JEL Code(s): E, E4, E42, E5, E58, H, H5, H54
Wait a Minute: The Efficacy of Discounting versus Non-Pecuniary Payment Steering Staff Working Paper 2016-8 Angelika Welte Merchants who accept credit cards face payment processing fees. In most countries, the no-surcharge rule prohibits them from using surcharges to pass these fees on to customers. Content Type(s): Staff research, Staff working papers Research Topic(s): Bank notes, Market structure and pricing, Payment clearing and settlement systems JEL Code(s): D, D1, D12, E, E5, E58, G, G2, G28
An Examination of Canadian Firms Delisting from U.S. Exchanges Staff Working Paper 2008-11 Jonathan Witmer This paper examines Canadian and other foreign firms that have been involuntarily delisted from major U.S. exchanges. I find that, for most countries, less than 10% of firms get delisted from a U.S. exchange during my sample period. Content Type(s): Staff research, Staff working papers Research Topic(s): Financial markets, International topics JEL Code(s): G, G3, G30, G38
Monetary Rules When Economic Behaviour Changes Staff Working Paper 1999-8 Robert Amano, Donald Coletti, Tiff Macklem This paper examines the implications of changes in economic behaviour for simple inflation-forecast–based monetary rules of the type currently used at two inflation-targeting central banks. Three types of changes in economic behaviour are considered, changes that are motivated by developments in monetary and fiscal policy in the 1990s: changes in monetary policy credibility, changes in […] Content Type(s): Staff research, Staff working papers Research Topic(s): Credibility, Monetary policy and uncertainty, Monetary policy framework JEL Code(s): E, E5, E52
Should Monetary Policy Lean Against Housing Market Booms? Staff Working Paper 2016-19 Sami Alpanda, Alexander Ueberfeldt Should monetary policy lean against housing market booms? We approach this question using a small-scale, regime-switching New Keynesian model, where housing market crashes arrive with a logit probability that depends on the level of household debt. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models, Financial stability, Housing, Monetary policy framework JEL Code(s): E, E4, E44, E5, E52, G, G0, G01
February 1, 2012 Governance and Financial Fragility Financial System Review - December 2003 Michael Francis Content Type(s): Publications, Financial System Review articles
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 Research Topic(s): Fiscal policy, Monetary policy JEL Code(s): E, E5, E52, E58, E6, E62, E63
Canadian City Housing Prices and Urban Market Segmentation Staff Working Paper 2006-49 Jason Allen, Robert Amano, David Byrne, Allan Gregory The authors provide a detailed empirical analysis of Canadian city housing prices. They examine the long-run relationship between city house prices in Canada from 1981 to 2005 as well as idiosyncratic relations between city prices and city-specific variables. Content Type(s): Staff research, Staff working papers Research Topic(s): Regional economic developments JEL Code(s): C, C2, C22, C3, C32, R, R2