Government of Canada

About: Government of Canada is a government organization based out in Ottawa, Ontario, Canada. It is known for research contribution in the topics: Monetary policy & Productivity. The organization has 796 authors who have published 886 publications receiving 21366 citations. The organization is also known as: federal government of Canada & Her Majesty's Government.

Market Structure and the Diffusion of E-Commerce: Evidence from the Retail Banking Industry

Abstract: Les auteurs etudient le role de la structure de marche dans la diffusion des services bancaires electroniques. Ces services (et plus largement le commerce electronique) permettent aux entreprises d'economiser sur de nombreuses transactions.

Bank Market Power and Central Bank Digital Currency: Theory and Quantitative Assessment

Abstract: This paper develops a micro-founded general equilibrium model of payments to study the impact of a central bank digital currency (CBDC) on intermediation of private banks. If banks have market power in the deposit market, a CBDC can enhance competition, raising the deposit rate, expanding intermediation, and increasing output. A calibration to the United States economy suggests that a CBDC can raise bank lending by 1.96% and output by 0.21%. These ``crowding-in'' effects remain robust, albeit with smaller magnitudes, after taking into account endogenous bank entry. We also assess the role of a non-interest-bearing CBDC as the use of cash declines.

The changing role of the Privy Council Office

Abstract: Since the establishment of the office of Secretary to the Cabinet thirty years ago, there have been a number of changes in the way the cabinet operates, one being in the cabinet committee system which has passed through three distinct phases and is now in a fourth Nine standing committees exist, with significant changes in procedure, permitting ministers to participate more fully in discussion and to share responsibility better The Cabinet Committee on Priorities and Planning, established in 1968, deals with broad objectives, main questions of policy with long-term implications and with priorities for broad financial allocation With the complexity of government and the scale of die elements of complexity increasing, the demands on ministerial time have become overwhelming The Operations, Plans and Federal-Provincial Affairs Divisions of the Privy Council Office, with a small and discreet staff constantly changing to avoid the formation of a ruling elite, assist the prime minister, cabinet and cabinet committees in the total process of decision-making and in assuring a coherence of policy Attempts are made to provide the central executive with full information and optimum freedom in taking the decisions for which parliament and the people of Canada have given them responsibility Sommaire Depuis la creation du poste de secretaire du Cabinet, il y a une trentaine d'annees, il s'est produit un certain nombre de changements dans le fonctionnement meme du cabinet Citons, entre autres, le systeme des comites du cabinet qui est passe par trois phases distinctes et se trouve maintenant dans une quatrieme phase Il existe neuf comites permanents dont la procedure a subi d'importantes modifications pour permettre aux ministres de prendre une part plus active aux discussions, et de mieux partager les responsabilites Le comite du cabinet charge de l'etablissement des priorites et de la planification, etabli en 1968, s'occupe des objectifs generaux, des lignes de conduit A long terme et des priorites pour l'allocation generale des fonds A cause de la complexite du gouvernement et de l'ampleur croissante de ses responsabilites, l'emploi du temps des ministres est devenu incroyablement charge Les sections des Operations, des Plans et celle des Affaires federales-provinciales du Conseil prive, avec un personnel peu nombreux et discret, constamment renouvele pour eviter la formation d'une elite trop influente, aident le premier ministre, le cabinet et les comites du cabinet a prendre les decisions qui s'imposent et a assurer la coherence de la politique du gouvernementale Elles s'efforcent de fournir a l'executif central toute information utile et de lui assurer le maximum de liberte pour prendre les decisions dmt l'ont charge le parlement et le peuple canadien

Assessing the Financial and Financing Conditions of Firms in Europe: The Financial Module in CompNet

Abstract: This paper provides an encompassing description of the various indicators compiled in the financial module of CompNet using balance sheet information of European firms. We investigate whether and to which extent the heterogeneous financial positions of firms have affected firms’ investment decisions, especially during the recent crisis. Our results confirm the relevance of leverage for investment, in addition to other common determinants, such as cash flow or sales growth. In particular, we find evidence that higher levels of indebtedness act as a drag on investment. We investigate cash holding policies and find significant differences across firm sizes and degrees of financial constraints. Furthermore, our data confirm the pro-cyclicality of firm profitability and its negative association with financial constraints. Finally, we exploit the richness of this new dataset to document the relationships between firms’ financial and financing conditions and their productivity.