Bitcoin Adoption and Beliefs in Canada Staff working paper 2021-60 Daniela Balutel, Christopher Henry, Jorge Vásquez, Marcel Voia Using an economic model as well as survey data from the Bank of Canada, we study what factors influence the adoption of Bitcoin in Canada. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D8, D83, O, O3, O33 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Economic models, Money and payments, Digital assets and fintech
Canadian job postings in digital sectors during COVID-19 Staff analytical note 2021-18 Alejandra Bellatin, Gabriela Galassi Digital technologies have helped maintain economic activity while allowing people to remain physically distant throughout the COVID-19 crisis. This note shows that the number of online postings for jobs related to the production of digital technologies in Canada decreased less than the number for other jobs and recovered more quickly after lockdowns were lifted. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E2, E24, J, J2, J23, J6, J63, J64, O, O3, O33 Research Theme(s): Structural challenges, Demographics and labour supply, Digitalization and productivity
Overlooking the online world: Does mismeasurement of the digital economy explain the productivity slowdown? Staff analytical note 2021-10 Alejandra Bellatin, Stéphanie Houle Since the mid-2000s, labour productivity has slowed down in Canada despite enormous technological advances that were expected to improve it. This note investigates whether mismeasurement of the digital economy can explain this paradox. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E0, E01, L, L8, L86, O, O3, O33, O4, O5, O51 Research Theme(s): Models and tools, Economic models, Structural challenges, Digitalization and productivity
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 JEL Code(s): D, D2, D22, E, E3, E31, J, J2, J21, O, O3, O33 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Structural challenges, Demographics and labour supply, Digitalization and productivity
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 JEL Code(s): D, D7, D78, D8, D81, G, G0, G01, G1, G18, O, O3, O38 Research Theme(s): Financial system, Financial stability and systemic risk, Money and payments, Digital assets and fintech, Payment and financial market infrastructures
Security of a CBDC Staff analytical note 2020-11 Cyrus Minwalla Security is an important element in ensuring public confidence in a central bank digital currency (CBDC). This note highlights the required security properties of a CBDC system and the challenges encountered with existing solutions, should the Bank of Canada choose to issue one. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E4, E42, E5, E51, O, O3, O31 Research Theme(s): Money and payments, Digital assets and fintech, Payment and financial market infrastructures
Designing a CBDC for universal access Staff analytical note 2020-10 John Miedema, Cyrus Minwalla, Martine Warren, Dinesh Shah If the Bank of Canada issues a central bank digital currency, the technology should be designed for universal access. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E4, E41, O, O3, O31 Research Theme(s): Money and payments, Cash and bank notes, Digital assets and fintech, Payment and financial market infrastructures, Retail payments
Privacy in CBDC technology Staff analytical note 2020-9 Sriram Darbha, Rakesh Arora Privacy is a key aspect of a potential central bank digital currency system. We outline different technical choices to enact various privacy models while complying with the appropriate regulations. We develop a framework to evaluate privacy models and list key risks and trade-offs in privacy design. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E4, E42, E5, E51, O, O3 Research Theme(s): Money and payments, Digital assets and fintech, Payment and financial market infrastructures
Technology Approach for a CBDC Staff analytical note 2020-6 Dinesh Shah, Rakesh Arora, Han Du, Sriram Darbha, John Miedema, Cyrus Minwalla In this note, we highlight a range of technical options and considerations in designing a contingent system for a central bank digital currency (CBDC) in Canada and explore how these options achieve stated public policy goals. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E4, E42, E5, E51, O, O3, O31 Research Theme(s): Money and payments, Digital assets and fintech, Payment and financial market infrastructures, Retail payments
Technology Adoption in Input-Output Networks Staff working paper 2019-51 Xintong Han, Lei Xu We study how input-output networks affect the speed of technology adoption. In particular, we model the decision to adopt the programming language Python 3 by software packages. Python 3 provides advanced features but is not backward compatible with Python 2, which implies it comes with adoption costs. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C6, C61, L, L2, L23, L8, L86, O, O1, O14, O3, O33 Research Theme(s): Models and tools, Economic models, Structural challenges, Digitalization and productivity