Bio

Daniel de Munnik is a Senior Policy Advisor in the International Economic Analysis Department (INT). In this role, Daniel’s key responsibility is to write the Global Outlook section of the Bank’s Monetary Policy Report and helping to oversee the report's production.  

Daniel joined the Bank in 2003 as an economist in CEA’s Atlantic Regional Office and has subsequently held increasingly senior roles within the Canadian Economic Analysis (CEA) Department. He was the Director of CEA’s Real Economic Activity Division from 2016 to 2024, formulating the nowcast and leading analysis on the Canadian economy. His research efforts have focused on Canadian international trade, labour market dynamics and business conditions survey design.  

In addition to his work at the Bank, Daniel has also worked as an Instructor for the Economics Department at Dalhousie University (Halifax) from 2006 to 2014.

Born in Orillia, Ontario, Daniel has a master’s degree in economics from McMaster University (Hamilton).

Staff research

Assessing global potential output growth: April 2025

Staff analytical note 2025-15 Samuel Boulanger, Raheeb Dastagir, Daniel de Munnik, Eshini Ekanayake, Kun Mo, Walter Muiruri, Faiza Noor, Sabreena Obaid, Louis Poirier
This note presents the annual update of Bank of Canada staff estimates for growth in global potential output. These estimates served as key inputs to the analysis supporting the April 2025 Monetary Policy Report.
Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E1, E2, F, F0, F1, O, O3, O33, O4 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply, Digitalization and productivity, International trade, finance and competitiveness

Canada’s Experience with Trade Policy

Staff discussion paper 2018-1 Karyne B. Charbonneau, Daniel de Munnik, Laura Murphy
This paper compiles the contemporary view on three major Canadian-led trade policies that have marked Canada’s economic history since Confederation: the National Policy (1879), the Canada–US Agreement on Automotive Products (Auto Pact, 1965) and the Canada–US Free Trade Agreement (FTA, 1989, including its extension to the North American Free Trade Agreement, NAFTA, 1994).
Content Type(s): Staff research, Staff discussion papers JEL Code(s): F, F1, F13, N, N7, N71, N72 Research Theme(s): Structural challenges, International trade, finance and competitiveness

Global Real Activity for Canadian Exports: GRACE

Staff discussion paper 2017-2 André Binette, Tony Chernis, Daniel de Munnik
Canadian exports have often disappointed since the Great Recession. The apparent disconnect between exports and the Bank of Canada’s current measure of foreign demand has created an impetus to search for an alternative.
Content Type(s): Staff research, Staff discussion papers JEL Code(s): F, F1, F10, F14, F4, F43 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Real economy and forecasting, Structural challenges, International trade, finance and competitiveness

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Bank publications

Bank of Canada Review articles

May 16, 2013

Explaining Canada’s Regional Migration Patterns

Bank of Canada Review - Spring 2013 David Amirault, Daniel de Munnik, Sarah Miller
Understanding the factors that determine the migration of labour between regions is crucial for assessing the economy’s response to macroeconomic shocks and identifying policies that will encourage an efficient reallocation of labour. By examining the determinants of migration within Canada from 1991 to 2006, this article provides evidence that regional differences in employment rates and household incomes tend to increase labour migration, and that provincial borders and language differences are barriers to migration.
Content Type(s): Publications, Bank of Canada Review articles JEL Code(s): J, J6, J61, R, R2, R23

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Journal publications

Refereed journals

  • “Assessing the Accuracy of Non-random Business Conditions Surveys: A Novel Approach”
    (with Mark Illing and David Dupuis), Journal of the Royal Statistical Society: Series A (Statistics in Society), vol. 176, p. 371-388, 2013.
  • “What Drags and Drives Mobility: Explaining Canada’s Aggregate Migration Patterns”
    (with David Amirault and Sarah Miller), Canadian Journal of Economics, Volume 49, Issue 3, pages 1035-1056, August 2016.

Books

  • "Micro Foundations of Price-Setting Behaviour: Evidence from Canadian Firms"
    (with Kuan Xu) In Monetary Policy: Roles, Forecasting and Effects, edited by Yasuo Nishiyama, New York: NOVA Science Publishers, p. 1-50, 2012.