000	02152cam  2200325za 4500
001	9.856757
003	CaOODSP
005	20221107155614
007	cr |||||||||||
008	180518s2018    oncd    ob   f000 0 eng d
040	|aCaOODSP|beng
041	|aeng|bfre
043	|an-cn---
086	1 |aFB3-5/2018-20E-PDF
100	1 |aDunbar, Geoffrey R.
245	14|aThe (un)demand for money in Canada |h[electronic resource] / |cby Geoffrey Dunbar and Casey Jones.
260	|a[Ottawa] : |bBank of Canada, |c2018.
300	|aii, 42 p. : |bcol. charts.
490	1 |aBank of Canada staff working paper, |x1701-9397 ; |v2018-20
500	|a"May 2018."
504	|aIncludes bibliographical references (p. 28-30).
520	3 |a"A novel dataset from the Bank of Canada is used to estimate the deposit functions for banknotes in Canada for three denominations: $1,000, $100 and $50. The broad flavour of the empirical findings is that denominations are different monies, and the structural estimates identify the underlying sources of the non-neutrality. There is evidence of large and significant deposit costs for the highest-value denomination, the $1,000 banknote, but insignificant costs for the $100 and $50 denominations. The results imply that the interest rate elasticity of deposit is positive for the $1,000 but negative for the $100 and the $50. Third, 5 percent of the $1,000, 30 percent of the $100 and 22 percent of the $50 banknotes ever issued by the Bank of Canada do not circulate through financial institutions (in Canada). Finally, we find evidence that the Lehman Brothers crisis increased the deposit probability by a factor of 2–3 for the $1,000 banknote for a majority of the population in Canada"--Abstract, p. ii.
546	|aIncludes abstract in French.
692	07|2gccst|aCurrency
693	4|aBank deposits
693	4|aEconometrics
700	1 |aJones, Casey.
710	2 |aBank of Canada.
830	#0|aStaff working paper (Bank of Canada)|x1701-9397 ; |v2018-20.|w(CaOODSP)9.806221
856	40|qPDF|s1.32 MB|uhttps://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-5-2018-20-eng.pdf