Alexander Ueberfeldt

Director

Alexander Ueberfeldt is the Director in the Strategic Leadership & Support team of the Canadian Economic Analysis Department. An applied macroeconomist, Alexander’s research recently focused on the interaction of monetary policy and financial stability. In addition, he has contributed to the understanding of price-level targeting and long-run trends in macro-labour economics. Prior to joining the Bank of Canada, Alexander was an Analyst at the Federal Reserve Bank of Minneapolis from 2003-2005. He holds a PhD in Economics from the University of Minnesota.

Contact

Alexander Ueberfeldt

Director
Canadian Economic Analysis
Strategic Leadership and Support

Bank of Canada
234 Wellington Street
Ottawa, ON, K1A 0G9

Curriculum vitae

Latest

November 28, 2017 Analysis of Household Vulnerabilities Using Loan-Level Mortgage Data

This report examines detailed data on home mortgages to provide a better understanding of the vulnerabilities associated with the mortgage market. The proportion of low-ratio mortgages is growing, particularly in regions with strong house price growth. Moreover, these borrowers exhibit less flexibility to adverse shocks, since they have high debt levels relative to income and have taken mortgages with long amortization periods.

Monetary Policy Tradeoffs Between Financial Stability and Price Stability

Staff Working Paper 2016-49 Malik Shukayev, Alexander Ueberfeldt
We analyze the impact of interest rate policy on financial stability in an environment where banks can experience runs on their short-term liabilities, forcing them to sell assets at fire-sale prices.

Managing Risk Taking with Interest Rate Policy and Macroprudential Regulations

Staff Working Paper 2016-47 Simona Cociuba, Malik Shukayev, Alexander Ueberfeldt
We develop a model in which a financial intermediary’s investment in risky assets—risk taking—is excessive due to limited liability and deposit insurance and characterize the policy tools that implement efficient risk taking.

Should Monetary Policy Lean Against Housing Market Booms?

Staff Working Paper 2016-19 Sami Alpanda, Alexander Ueberfeldt
Should monetary policy lean against housing market booms? We approach this question using a small-scale, regime-switching New Keynesian model, where housing market crashes arrive with a logit probability that depends on the level of household debt.

Do Low Interest Rates Sow the Seeds of Financial Crises?

Staff Working Paper 2011-31 Simona Cociuba, Malik Shukayev, Alexander Ueberfeldt
A view advanced in the aftermath of the late-2000s financial crisis is that lower than optimal interest rates lead to excessive risk taking by financial intermediaries.

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Other

Refereed Journals

Education

  • PhD (Economics), University of Minnesota (2005)
  • Diploma (Volkswirtschaftslehre / Economics), University of Bielefeld (2000)
  • MA (Economics), Purdue University (1999)

Research Interests

  • Macroeconomics
  • Monetary economics
  • Macro-labour economics
  • Financial stability

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