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E-Money: Efficiency, Stability and Optimal Policy

Chiu, Jonathan; Wong, Tsz-Nga - Bank of Canada - 2014

What makes e-money more special than cash? Is the introduction of e-money necessarily welfare enhancing? Is an e-money system necessarily stable? What is the optimal way to design an efficient and stable e-money scheme? This paper provides a first attempt to develop a micro-founded, dynamic,...

Persistent link: https://www.econbiz.de/10010762052

Some Economics of Private Digital Currency

Gans, Joshua S.; Halaburda, Hanna - Bank of Canada - 2013

This paper reviews some recent developments in digital currency, focusing on platform-sponsored currencies such as Facebook Credits. In a model of platform management, we find that it will not likely be profitable for such currencies to expand to become fully convertible competitors to...

Persistent link: https://www.econbiz.de/10010709815

Relative Prices, Trading Gains, and Real GDI: The Case of Canada

Zheng, Yi - Bank of Canada - 2009

Treating imports as intermediate inputs to domestic production, the author adopts the translog function approach to model real gross domestic income (GDI) in Canada over the 1961-2006 period. She explores the role of price ratios, such as terms of trade and the real effective exchange rate, in...

Persistent link: https://www.econbiz.de/10005808275

Le PIB potentiel des États-Unis et ses déterminants : la productivité de la main-d'oeuvre et le taux d'activité

Lalonde, René - Bank of Canada - 1998

explicitly related to the trend of labour force productivity and of the participation rate. These two variables have been … of labour force productivity and the participation rate. Furthermore, since 1995, the growth rate of potential GDP has … been clearly above its historical average because of an increase in the trend of productivity and, to a lesser degree, in …

Persistent link: https://www.econbiz.de/10005808276

A Model of Costly Capital Reallocation and Aggregate Productivity

Cao, Shutao - Bank of Canada - 2008

mainly through changes in ownership) on aggregate labour productivity. Capital reallocation is an important activity in the … United States: on average, its total value is 3-4 per cent of U.S. GDP. Firms with lower productivity are more likely to be … reallocated to (i.e., bought by) more productive firms. Reallocated establishments experience an increase in productivity. The …

Persistent link: https://www.econbiz.de/10005808290

Restructuring in the Canadian Economy: A Survey of Firms

Kwan, Carolyn C. - Bank of Canada - 2002

Persistent link: https://www.econbiz.de/10005808291

Schooling, Inequality and Government Policy

Kryvtsov, Oleksiy; Ueberfeldt, Alexander - Bank of Canada - 2007

This paper asks: What is the effect of government policy on output and inequality in an environment with education and labor-supply decisions? The answer is given in a general equilibrium model, consistent with the post 1960s facts on male wage inequality and labor supply in the U.S. In the...

Persistent link: https://www.econbiz.de/10005808302

What Affects MFP in the Long-Run? Evidence from Canadian Industries

Leung, Danny; Zheng, Yi - Bank of Canada - 2008

In this paper we explore variables that may have an impact on multifactor productivity (MFP) in the long-run using the …

Persistent link: https://www.econbiz.de/10005808323

Contribution of ICT Use to Output and Labour-Productivity Growth in Canada

Khan, Hashmat; Santos, Marjorie - Bank of Canada - 2002

Persistent link: https://www.econbiz.de/10005808338

Firms Dynamics, Bankruptcy Laws and Total Factor Productivity

Tomura, Hajime - Bank of Canada - 2007

This paper analyzes endogenous fluctuations in total factor productivity (TFP) in a dynamic general equilibrium model … firms, and fluctuations in TFP in response to firm-level productivity and aggregate credit-market shocks. I also analyze the …

Persistent link: https://www.econbiz.de/10005808340