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28 Results

Cash in the Pocket, Cash in the Cloud: Cash Holdings of Bitcoin Owners

Staff Working Paper 2022-26 Daniela Balutel, Christopher Henry, Kim Huynh, Marcel Voia
We estimate the effect that owning Bitcoin has on the amount of cash held by Canadian consumers. Our results question the view that adopting certain new technologies, such as Bitcoin, leads to a decline in cash holdings.

Resilience of bank liquidity ratios in the presence of a central bank digital currency

Staff Analytical Note 2022-5 Alissa Gorelova, Bena Lands, Maria teNyenhuis
Could Canadian banks continue to meet their regulatory liquidity requirements after the introduction of a cash-like retail central bank digital currency (CBDC)? We conduct a hypothetical exercise to estimate how a CBDC could affect bank liquidity by increasing the run-off rates of transactional retail deposits under four increasingly severe scenarios.

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.

Overlooking the online world: Does mismeasurement of the digital economy explain the productivity slowdown?

Staff Analytical Note 2021-10 Alejandra Bellatin, Stephanie 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 Topic(s): Productivity JEL Code(s): E, E0, E01, L, L8, L86, O, O3, O33, O4, O5, O51

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 Topic(s): Firm dynamics, Inflation and prices, Labour markets JEL Code(s): D, D2, D22, E, E3, E31, J, J2, J21, O, O3, O33

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.

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.

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.
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