Alexander Ueberfeldt

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.

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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
Financial system vulnerabilities increase the downside risk to future GDP growth. Macroprudential tightening significantly reduces financial stability risks associated with vulnerabilities. Monetary policy faces a trade-off between financial stability and macroeconomic risks.
Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Central bank research, Economic models, Financial stability, Financial system regulation and policies, Interest rates, Monetary Policy, Monetary policy framework JEL Code(s): E, E4, E44, E5, E52, E58, G, G0, G01
November 28, 2017

Analysis of Household Vulnerabilities Using Loan-Level Mortgage Data

Financial System Review - November 2017 Olga Bilyk, Alexander Ueberfeldt, Yang Xu
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.
Content Type(s): Publications, Financial System Review Article Topic(s): Credit and credit aggregates, Recent economic and financial developments, Sectoral balance sheet JEL Code(s): D, D1, D12, D14, G, G2, G21, G28

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.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Financial stability, Monetary policy framework, Transmission of monetary policy JEL Code(s): D, D6, D62, E, E3, E32, E4, E44, G, G0, G01

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.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Financial system regulation and policies, Monetary policy framework JEL Code(s): E, E4, E44, E5, E52, G, G1, G11, G18

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.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models, Financial stability, Housing, Monetary policy framework JEL Code(s): E, E4, E44, E5, E52, G, G0, G01

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Education

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

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Alexander Ueberfeldt

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