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The role of convenience and risk in consumers' means of payment
Arango, Carlos; Taylor, Varya - 2009
Using data from a 2004 survey of the Canadian public, the authors study the role of convenience and risk in consumers' use of cash relative to debit and credit cards. The authors find that consumers who perceive debit cards and credit cards to be more convenient and less risky than cash use them...
Persistent link: https://www.econbiz.de/10003933185
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The Neutral Rate of Interest in Canada
Mendes, Rhys R. - Bank of Canada - 2014
A measure of the neutral policy interest rate can be used to gauge the stance of monetary policy. We define the neutral rate as the real policy rate consistent with output at its potential level and inflation equal to target after the effects of all cyclical shocks have dissipated. This is a...
Persistent link: https://www.econbiz.de/10010960403
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Interpreting Money-Spply and Interest-Rate Sgocks as Monetary-Policy Shocks.
Kasumovick, M. - Bank of Canada - 1996
In this paper two shocks are analysed using Canadian data: a money-supply shock ("M-shock") and an interest-rate shock …
Persistent link: https://www.econbiz.de/10005808282
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Understanding the Cash Demand Puzzle
Jiang, Janet Hua; Shao, Enchuan - Bank of Canada - 2014
We develop a model to explain a puzzling trend in cash demand in recent years: the value of bank notes in circulation as a percentage of GDP has remained stable despite decreasing cash usage at points of sale owing to competition from alternative means of payment such as credit cards. The main...
Persistent link: https://www.econbiz.de/10010779302
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Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data
Bagnall, John; Bounie, David; Huynh, Kim; Kosse, Anneke; … - Bank of Canada - 2014
We measure consumers’ use of cash by harmonizing payment diary surveys from seven countries. The seven diary surveys were conducted in 2009 (Canada), 2010 (Australia), 2011 (Austria, France, Germany and the Netherlands), and 2012 (the United States). Our paper finds cross-country differences -...
Persistent link: https://www.econbiz.de/10010849952
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The Efficiency of Private E-Money-Like Systems: The U.S. Experience with National Bank Notes
Weber, Warren E. - Bank of Canada - 2015
bank issued its own notes. E-money shares many of the characteristics of these bank notes. This paper describes some … lessons relevant to e-money from the U.S. experience with national bank notes. It examines historical evidence on how well the … bank notes suggests that a privately-issued e-money system can operate efficiently but will require government intervention …
Persistent link: https://www.econbiz.de/10011132362
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The Efficiency of Private E-Money-Like Systems: The U.S. Experience with State Bank Notes
Weber, Warren E. - Bank of Canada - 2014
In the United States prior to 1863 each bank issued its own distinct notes. E-money shares many of the characteristics … of these bank notes. This paper describes some lessons relevant to e-money from the U.S. experience with state bank notes … functioning of the system. The U.S. experience with state bank notes suggests that a privately-issued e-money system can operate …
Persistent link: https://www.econbiz.de/10010762053
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Inflation and Unemployment in Competitive Search Equilibrium
Dong, Mei - Bank of Canada - 2010
Using a monetary search model, Rocheteau, Rupert and Wright (2007) show that the relationship between inflation and unemployment can be positive or negative depending on the primitives of the model. The key features are indivisible labor, nonseparable preferences and bargaining. Their results...
Persistent link: https://www.econbiz.de/10008527618
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Credit constraints and consumer spending
Beaton, Kimberly - 2009
This paper examines the relationship between aggregate consumer spending and credit availability in the United States. The author finds that consumer spending falls (rises) in response to a reduction (increase) in credit availability. Moreover, she provides a formal assessment of the possibility...
Persistent link: https://www.econbiz.de/10003933295
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Credit Constraints and Consumer Spending
Beaton, Kimberly - Bank of Canada - 2009
This paper examines the relationship between aggregate consumer spending and credit availability in the United States. The author finds that consumer spending falls (rises) in response to a reduction (increase) in credit availability. Moreover, she provides a formal assessment of the possibility...
Persistent link: https://www.econbiz.de/10005015331