AI Agents for Cash Management in Payment Systems Staff working paper 2025-35 Iñaki Aldasoro, Ajit Desai Can artificial intelligence (AI) think and act like a cash manager? In this paper we explore how generative AI agents can help manage liquidity, prioritize payments and optimize efficiency in real-time gross settlement systems. Content Type(s): Staff research, Staff working papers JEL Code(s): A, A1, A12, C, C7, D, D8, D83, E, E4, E42, E5, E58 Research Theme(s): Financial system, Financial system regulation and oversight, Money and payments, Digital assets and fintech, Payment and financial market infrastructures, Structural challenges, Digitalization and productivity
A Fresh Look at the Publication and Citation Gap Between Men and Women: Insights from Economics and Political Science Staff working paper 2025-13 Daniel Stockemer, Gabriela Galassi, Engi Abou-El-Kheir In recent years, significant efforts have been made to attract more women into academia and to support their careers, with the goal of increasing their representation. Content Type(s): Staff research, Staff working papers JEL Code(s): A, A1, A14, I, I2, I23, J, J1, J16, J4, J44, J7, J71 Research Theme(s): Structural challenges, Demographics and labour supply
Tech Reluctance: Fostering Empathy for Canadians Facing Challenges with Digital Systems Staff discussion paper 2025-2 Sebastian Hernandez, Helena Wang, Badr Omrane, Vera Roberts, David Pereyra We find that individuals who require help performing banking tasks or who are reluctant to adopt technology avoid digital payment systems they expect to lack usability. Addressing these issues through standard accessibility practices, live assistance and thoughtful interface design can enhance user interaction and trust. Content Type(s): Staff research, Staff discussion papers JEL Code(s): A, A1, A14, C, C9, C90, D, D8, D83, O, O3, O33, Y, Y8, Y80 Research Theme(s): Money and payments, Cash and bank notes, Digital assets and fintech, Retail payments, Structural challenges, Digitalization and productivity
Assessing the effects of higher immigration on the Canadian economy and inflation Staff analytical note 2023-17 Julien Champagne, Erik Ens, Xing Guo, Olena Kostyshyna, Alexander Lam, Corinne Luu, Sarah Miller, Patrick Sabourin, Joshua Slive, Temel Taskin, Jaime Trujillo, Shu Lin Wee We assess the complex macroeconomic implications of Canada’s recent population increases. We find that newcomers significantly boost the non-inflationary, potential growth of the economy, but existing imbalances in the housing sector may be exacerbated. Greater housing supply is needed to complement the long-term economic benefits of population growth. Content Type(s): Staff research, Staff analytical notes JEL Code(s): A, A1, A10, E, E2, E20, E3, E31, J, J1, J11, J15 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Real economy and forecasting, Structural challenges, Demographics and labour supply
Machine learning for economics research: when, what and how Staff analytical note 2023-16 Ajit Desai This article reviews selected papers that use machine learning for economics research and policy analysis. Our review highlights when machine learning is used in economics, the commonly preferred models and how those models are used. Content Type(s): Staff research, Staff analytical notes JEL Code(s): A, A1, A10, B, B2, B23, C, C4, C45, C5, C55 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Structural challenges, Digitalization and productivity
Redefining Financial Inclusion for a Digital Age: Implications for a Central Bank Digital Currency Staff discussion paper 2023-22 Alexandra Sutton-Lalani, Sebastian Hernandez, John Miedema, Jiamin Dai, Badr Omrane We explore quantitative and qualitative information about Canadians who face barriers to making digital payments. We also consider the implications of ongoing digitalization for modern financial inclusion and a potential central bank digital currency. Content Type(s): Staff research, Staff discussion papers JEL Code(s): A, A1, A14, E, E4, E42, E5, E50, I, I3, I31, O, O3, O33, O5, O51 Research Theme(s): Money and payments, Digital assets and fintech, Retail payments, Structural challenges, Demographics and labour supply, Digitalization and productivity
Estimating Policy Functions in Payments Systems Using Reinforcement Learning Staff working paper 2021-7 Pablo S. Castro, Ajit Desai, Han Du, Rodney J. Garratt, Francisco Rivadeneyra We demonstrate the ability of reinforcement learning techniques to estimate the best-response functions of banks participating in high-value payments systems—a real-world strategic game of incomplete information. Content Type(s): Staff research, Staff working papers JEL Code(s): A, A1, A12, C, C7, D, D8, D83, E, E4, E42, E5, E58 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Money and payments, Digital assets and fintech, Payment and financial market infrastructures