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 discussion papers

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 Topic(s): International topics, Trade integration JEL Code(s): F, F1, F13, N, N7, N71, N72

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.

An Update - Canadian Non-Energy Exports: Past Performance and Future Prospects

Staff Discussion Paper 2015-10 André Binette, Daniel de Munnik, Julie Melanson
In light of the fact that Canada was continuing to lose market share in the United States, Binette, de Munnik and Gouin-Bonenfant (2014) studied 31 Canadian non-energy export (NEX) categories to assess their individual performance.

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Staff working papers

The Evolution of Canada’s Global Export Market Share

Staff Working Paper 2012-31 Daniel de Munnik, Jocelyn Jacob, Wesley Sze
Following gains during the 1990s, Canada’s global market share of goods exports has declined markedly in recent years. In this regard, the constant market share analysis framework is used to decompose changes in Canada’s global market share into competitiveness and structural effects over the 1990‐2010 period, as well as to draw some comparisons to a number of other countries.

What Drags and Drives Mobility: Explaining Canada’s Aggregate Migration Patterns

Staff Working Paper 2012-28 David Amirault, Daniel de Munnik, Sarah Miller
Using census data at the economic region level from 1991 to 2006 and a gravity model framework, this paper examines the factors that influence migration within Canada.

Computing the Accuracy of Complex Non-Random Sampling Methods: The Case of the Bank of Canada's Business Outlook Survey

Staff Working Paper 2009-10 Daniel de Munnik, David Dupuis, Mark Illing
A number of central banks publish their own business conditions survey based on non-random sampling methods. The results of these surveys influence monetary policy decisions and thus affect expectations in financial markets. To date, however, no one has computed the statistical accuracy of these surveys because their respective non-random sampling method renders this assessment non-trivial.

Micro Foundations of Price-Setting Behaviour: Evidence from Canadian Firms

Staff Working Paper 2007-31 Daniel de Munnik, Kuan Xu
How do firms adjust prices in the marketplace? Do they tend to adjust prices infrequently in response to changes in market conditions? If so, why? These remain key questions in macroeconomics, particularly for central banks that work to keep inflation low and stable.

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Bank publications

Bank of Canada Review articles

May 16, 2013

Explaining Canada’s Regional Migration Patterns

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.

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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.


  • "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.