Econometric and statistical methods

• Monetary Payoff and Utility Function in Adaptive Learning Models

  Staff Working Paper 2019-50 Erhao Xie

  When players repeatedly face an identical or similar game (e.g., coordination game, technology adoption game, or product choice game), they may learn through experience to perform better in the future. This learning behaviour has important economic implications.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Econometric and statistical methods, Economic models JEL Code(s): C, C5, C57, C7, C72, C9, C92

• On the Evolution of Multiple Jobholding in Canada

  Staff Working Paper 2019-49 Olena Kostyshyna, Etienne Lalé

  The number of workers who hold more than one job (a.k.a. multiple jobholders) has increased recently in Canada. While this seems to echo the view that non-standard work arrangements are becoming pervasive, the increase has in fact been trivial compared with the long-run rise of multiple jobholding that has occurred since the mid-1970s.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Econometric and statistical methods, Labour markets JEL Code(s): E, E2, E24, J, J2, J21, J22, J6, J60

• 2018 Merchant Acceptance Survey

  Staff Analytical Note 2019-31 Kim Huynh, Gradon Nicholls, Mitchell Nicholson

  In 2015, the Bank of Canada surveyed merchants and found that cash was nearly universally accepted (Fung, Huynh and Kosse 2017). Since 2015, retail payments in Canada have become increasingly digitalized, as many Canadians have adopted digital payment innovations like contactless cards and Interac e-Transfer.

  Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Bank notes, Digital Currencies and Fintech, Econometric and statistical methods JEL Code(s): C, C8, D, D2, D22, E, E4, L, L2

• Extreme Downside Risk in Asset Returns

  Staff Working Paper 2019-46 Lerby Ergun

  Financial markets can experience sudden and extreme downward movements. Investors are highly concerned about the performance of their assets in such scenarios. Some assets perform badly in a downturn in the market; others have milder reactions.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Asset Pricing, Econometric and statistical methods JEL Code(s): C, C1, C14, G, G1, G11, G12

• 2018 Bitcoin Omnibus Survey: Awareness and Usage

  Staff Discussion Paper 2019-10 Christopher Henry, Kim Huynh, Gradon Nicholls, Mitchell Nicholson

  The Bank of Canada continues to use the Bitcoin Omnibus Survey (BTCOS) to monitor trends in Canadians’ awareness, ownership and use of Bitcoin. The most recent iteration was conducted in late 2018, following an 85 percent decline in the price of Bitcoin throughout the year.

  Content Type(s): Staff Research, Staff Discussion Papers Topic(s): Bank notes, Digital Currencies and Fintech, Econometric and statistical methods JEL Code(s): C, C1, C12, E, E4, O, O5, O51

• No Double Standards: Quantifying the Impact of Standard Harmonization on Trade

  Staff Working Paper 2019-36 Julia Schmidt, Walter Steingress

  Product standards are omnipresent in industrialized societies. Though standardization can be beneficial for domestic producers, divergent product standards have been categorized as a major obstacle to international trade. This paper quantifies the effect of standard harmonization on trade flows and characterizes the extent to which it changes the cost and demand structure of exporting.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Econometric and statistical methods, International topics JEL Code(s): F, F1, F13, F14, F15, L, L1, L15

• The Intergenerational Correlation of Employment: Is There a Role for Work Culture?

  Staff Working Paper 2019-33 Gabriela Galassi, David Koll, Lukas Mayr

  We document a substantial positive correlation of employment status between mothers and their children in the United States, linking data from the National Longitudinal Survey of Youth 1979 (NLSY79) and the NLSY79 Children and Young Adults. After controlling for ability, education and wealth, a one-year increase in a mother’s employment is associated with six weeks more employment of her child on average.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Econometric and statistical methods, Economic models, Labour markets JEL Code(s): E, E2, E24, J, J2, J21, J22, J6, J62

• Explaining the Interplay Between Merchant Acceptance and Consumer Adoption in Two-Sided Markets for Payment Methods

  Staff Working Paper 2019-32 Kim Huynh, Gradon Nicholls, Oleksandr Shcherbakov

  Recent consumer and merchant surveys show a decrease in the use of cash at the point of sale. Increasingly, consumers and merchants have access to a growing array of payment innovations as substitutes for cash.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Bank notes, Digital Currencies and Fintech, Econometric and statistical methods, Financial services JEL Code(s): C, C5, C51, L, L1, L13, L15, L8, L81, L9, L96

• Resolving Failed Banks: Uncertainty, Multiple Bidding & Auction Design

  Staff Working Paper 2019-30 Jason Allen, Robert Clark, Brent Hickman, Eric Richert

  Bank resolution is costly. In the United States, the Federal Deposit Insurance Corporation (FDIC) typically resolves failing banks by auction.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Econometric and statistical methods, Financial Institutions JEL Code(s): C, C5, C57, D, D4, D44, G, G2, G21

• Tail Index Estimation: Quantile-Driven Threshold Selection

  Staff Working Paper 2019-28 Jon Danielsson, Lerby Ergun, Laurens de Haan, Casper G. de Vries

  The most extreme events, such as economic crises, are rare but often have a great impact. It is difficult to precisely determine the likelihood of such events because the sample is small.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Econometric and statistical methods, Financial stability JEL Code(s): C, C0, C01, C1, C14, C5, C58