https://hdl.handle.net/10419/66902 Fri, 16 Oct 2026 08:59:48 GMT 2026-10-16T08:59:48Z https://hdl.handle.net/10419/311792 Title: Privacy-enhancing technologies for CBDC solutions Authors: Arora, Rakesh; Du, Han; Kazmi, Raza Ali; Le; Duc-Phong Abstract: With the rapid digitization of financial transactions, central banks have given considerable focus in recent years to the research and development of central bank digital currencies (CBDCs). While CBDCs could offer several advantages, there are concerns about end-user privacy. Traditional methods of protecting confidentiality in banking and financial systems have primarily relied on data encryption and access control techniques. However, these techniques alone are inadequate, especially in cases where data are shared across different entities because privacy in such situations is typically governed by legal frameworks. Privacy-enhancing technologies (PETs) can offer robust protection for data throughout their lifecycle, whether stored, in transit or during processing, and ensure privacy is maintained even when data are extensively shared or analyzed. This study explores the use of PETs in the design of CBDC systems, potentially paving the way for solutions that better safeguard end-user privacy and meet rigorous data protection standards. While PETs promise significant advancements in privacy protection, they present some challenges in implementation. They can introduce performance overheads and add complexity to systems, and their effectiveness and applicability are currently limited due to their early stage of development. As these technologies evolve, it is crucial for organizations to carefully consider these factors to fully leverage PET benefits while managing associated challenges. This paper provides a comprehensive overview of how PETs can transform privacy design in financial systems and the implications of their broader adoption. Wed, 01 Jan 2025 00:00:00 GMT https://hdl.handle.net/10419/311792 2025-01-01T00:00:00Z https://hdl.handle.net/10419/311794 Title: Tech reluctance: Fostering empathy for Canadians facing challenges with digital systems Authors: Hernandez, Sebastian; Wang, Helena; Omrane, Badr; Roberts, Vera; Pereyra, David Abstract: Designing inclusive and user-friendly digital payment systems is crucial to eliminate barriers faced by users. This research focuses on fostering empathy for and identifying the needs of users who exhibit behaviours that indicate they encounter accessibility or usability barriers in digital systems. Specifically, we examine two types of users based on two common behaviours: users who rely on others to perform tasks and those who avoid interacting with technology. The Bank of Canada partnered with the Inclusive Design Research Centre at OCAD University to gain a deeper understanding of these groups. Co-design sessions with end users were used to identify scenarios when cooperative efforts are needed, system features that facilitate supported banking and pain points customers and their support people encounter. The findings show that individuals in the two groups avoid systems they expect lack usability. Addressing these issues through standard accessibility practices, live assistance and thoughtful interface design can enhance user interaction and trust. For accessibility issues that cannot realistically be eliminated, technology that enhances cooperative relationships and allows account owners to control information sharing is key. Wed, 01 Jan 2025 00:00:00 GMT https://hdl.handle.net/10419/311794 2025-01-01T00:00:00Z https://hdl.handle.net/10419/322438 Title: The shift in Canadian immigration composition and its effect on wages Authors: Champagne, Julien; Poulin-Moore, Antoine; Long, Mallory Abstract: We document recent changes in Canadian immigration, marked by an increasing prevalence of temporary residency. Using microdata from Statistics Canada's Labour Force Survey, we show that temporary workers' characteristics and nominal wages have diverged from those of Canadian-born workers. Between 2015 and 2024, temporary workers have become younger, less experienced and more likely to migrate from lowerincome countries. As well, the shares of temporary workers in skilled occupations have declined moderately. Throughout this period, the average nominal wage gap between temporary and Canadian-born workers has more than doubled, widening from -9.5% to -22.6%. Further, we estimate Mincer regressions to assess how these evolving characteristics have contributed to the growing wage gap. Our findings show that this increase can be explained by observable characteristics. Our results suggest that aggregate nominal wages would have been, on average, 0.7% higher in 2023-24 had the characteristics of temporary workers remained unchanged over the past decade. Wed, 01 Jan 2025 00:00:00 GMT https://hdl.handle.net/10419/322438 2025-01-01T00:00:00Z https://hdl.handle.net/10419/322472 Title: Examining the links between firm performance and insolvency Authors: Hogg, Dylan; Jebeli, Hossein Abstract: Assessing insolvency dynamics is essential for evaluating the financial health of nonfinancial corporations and mitigating macroeconomic and financial stability risks. This study leverages a newly created Statistics Canada dataset linking insolvency records with firm-level financial data to develop a robust framework for monitoring insolvency risk. We employ two complementary approaches: a univariate threshold method that establishes critical financial ratio benchmarks and a multivariate econometric model that accounts for interactions among financial indicators. These methods produce debt-at-risk measures that enhance risk assessment by combining simplicity with analytical depth. Finally, we apply these metrics to timely firm-level data, enabling continual monitoring of financial vulnerabilities. Wed, 01 Jan 2025 00:00:00 GMT https://hdl.handle.net/10419/322472 2025-01-01T00:00:00Z