The Impact of Retail Payment Innovations on Cash Usage Staff Working Paper 2012-14 Ben Fung, Kim Huynh, Leonard Sabetti Many predict that innovations in retail payment may render cash obsolete. We investigate this possibility in the context of recent payment innovations such as contactless-credit and stored-value cards. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Financial services, Payment clearing and settlement systems JEL Code(s): C, C3, C35, C8, C83, E, E4, E41
Nowcasting the Global Economy Staff Discussion Paper 2010-12 James Rossiter Forecasts of global economic activity and inflation are important inputs when conducting monetary policy in small open economies such as Canada. As part of the Bank of Canada's broad agenda to augment its short-term forecasting tools, the author constructs simple mixed-frequency forecasting equations for quarterly global output, imports, and inflation using the monthly global Purchasing Managers Index (PMI). Content Type(s): Staff research, Staff discussion papers Research Topic(s): Economic models, International topics JEL Code(s): E, E3, E37, F, F4, F47
A Wave of Protectionism? An Analysis of Economic and Political Considerations Staff Working Paper 2008-2 Philipp Maier In light of the U.S. current account deficit, pressure is high on Asian countries to revalue their currencies. The calls from some U.S. policymakers for tariffs on imports from China has sparked fears that this could trigger a world-wide surge in protectionism. Content Type(s): Staff research, Staff working papers Research Topic(s): International topics, Recent economic and financial developments, Regional economic developments JEL Code(s): E, E6, E66, F, F3, F32, F4, F47
Employment Effects of Restructuring in the Public Sector in North America Staff Working Paper 2001-19 Paul Fenton, Irene Ip, Geoff Wright This paper examines whether restructuring in the public sector contributed to the slower cyclical recovery in Canada than in the United States during the 1990s. Changes in public sector employment are used to investigate this question. Content Type(s): Staff research, Staff working papers Research Topic(s): Labour markets JEL Code(s): J, J4, J45
January 25, 2012 The Provision of Central Bank Liquidity under Asymmetric Information Financial System Review - December 2007 James Chapman, Antoine Martin Content Type(s): Publications, Financial System Review articles
Financial Crisis Interventions Staff Working Paper 2016-29 Josef Schroth This paper develops a model of an economy where bank credit supports both productive investment and individual consumption smoothing in the face of idiosyncratic income risk. Bank credit is constrained by bank equity capital. Content Type(s): Staff research, Staff working papers Research Topic(s): Credit and credit aggregates, Financial stability, Financial system regulation and policies, Lender of last resort JEL Code(s): E, E1, E13, E3, E32, E4, E44
Market Size and Entry in International Trade: Product Versus Firm Fixed Costs Staff Working Paper 2018-43 Walter Steingress This paper develops a theoretical framework to infer the nature of fixed costs from the relationship between entry patterns in international markets and destination market size. If fixed costs are at the firm level, firms take advantage of an intrafirm spillover by expanding firm-level product range (scope). Content Type(s): Staff research, Staff working papers Research Topic(s): Firm dynamics, International topics, Trade integration JEL Code(s): F, F1, F12, F14, F2, F23
Familiarity with Crypto and Financial Concepts: Cryptoasset Owners, Non-Owners, and Gender Differences Staff Working Paper 2024-48 Daniela Balutel, Walter Engert, Christopher Henry, Kim Huynh, Doina Rusu, Marcel Voia Measuring cryptoasset knowledge alongside financial knowledge enhances our understanding of individuals' decisions to purchase cryptoassets. This paper uses microdata from the Bank of Canada’s Bitcoin Omnibus Survey to examine gender differences and the interrelationship between crypto and financial knowledge through an empirical joint analysis. Content Type(s): Staff research, Staff working papers Research Topic(s): Central bank research, Digital currencies and fintech, Econometric and statistical methods JEL Code(s): C, C8, C81, D, D1, D14, D9, D91, G, G5, G53, O, O5, O51
How Far Can Forecasting Models Forecast? Forecast Content Horizons for Some Important Macroeconomic Variables Staff Working Paper 2007-1 John Galbraith, Greg Tkacz For stationary transformations of variables, there exists a maximum horizon beyond which forecasts can provide no more information about the variable than is present in the unconditional mean. Meteorological forecasts, typically excepting only experimental or exploratory situations, are not reported beyond this horizon; by contrast, little generally accepted information about such maximum horizons is available for economic variables. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Econometric and statistical methods JEL Code(s): C, C5, C53
The Intergenerational Correlation of Employment: Is There a Role for Work Culture? Staff Working Paper 2019-33 Gabriela Galassi, David Koll, Lukas Mayr We document a substantial positive correlation of employment status between mothers and their children in the United States, linking data from the National Longitudinal Survey of Youth 1979 (NLSY79) and the NLSY79 Children and Young Adults. After controlling for ability, education and wealth, a one-year increase in a mother’s employment is associated with six weeks more employment of her child on average. Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Economic models, Labour markets JEL Code(s): E, E2, E24, J, J2, J21, J22, J6, J62