David Williams is a Senior Economist in the Canadian Economic Analysis Department. Based at the Regional Office for British Columbia and the Yukon, David is part of a regionally-based team of economists that conducts the Bank’s quarterly Business Outlook Survey, along with regional and sectoral analyses. He was lead writer of the Business Outlook Survey during 2012-2014. David’s research primarily focuses on interactions between the real economy and housing markets, mortgage markets and institutions.
Born in Brisbane, Australia, David worked as an economist at the Queensland Department of Transport and the Reserve Bank of Australia, and as a senior economic adviser at the Australian Department of the Prime Minister and Cabinet before pursuing post-graduate studies at Oxford University. While at Oxford, David was a lecturer in economics and completed a Ph.D. research internship at the International Monetary Fund. He joined the Bank of Canada in 2012.
David holds a Ph.D. (D. Phil.) in economics from Oxford University.
Digital technologies—cloud computing, the Internet of Things, advanced robotics, big data analytics, artificial intelligence and machine learning, social media, 3D printing, augmented reality, virtual reality, e-money and distributed ledgers—are transforming the way busi-nesses operate. How does this transformation compare with past industrial revolutions? How are digital technologies changing production systems across industries? Agile firms that use knowledge intensively and have high levels of both organizational and human capital appear set to realize the greatest benefits from digitalization. Finally, what are the implications for productivity, labour markets, inflation and monetary policy as we transition to the digital economy?
There is widespread agreement that, in the United States, higher house prices raise consumption via collateral or possibly wealth effects. The presence of similar channels in Canada would have important implications for monetary policy transmission.