Alexander Ueberfeldt

Senior Research Advisor

Alexander Ueberfeldt is Senior Research Advisor in the Strategic Leadership & Support team of the Financial Stability 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. He holds a PhD in Economics from the University of Minnesota.

Contact

Alexander Ueberfeldt

Senior Research Advisor
Financial Stability
Strategic Leadership and Support

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

Curriculum vitae

Latest

How to Manage Macroeconomic and Financial Stability Risks: A New Framework

Staff Analytical Note 2018-11 Alexander Ueberfeldt, Thibaut Duprey
Monetary policy decisions need to consider all potential outcomes, not just the most likely path for the economy. This is especially true in the presence of elevated financial system vulnerabilities, which lead to increased downside risks for future growth.

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.

See More

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

About

Follow the Bank