Donald Coletti




Don Coletti was appointed Advisor to the Governor effective 26 August 2013. He is responsible for financial system issues, including vulnerabilities, reforms and market dynamics, and their implications for financial stability and monetary policy.

Before becoming an Advisor, Mr. Coletti was Chief of the Bank’s International Economic Analysis Department, a position he held from September 2010. In this capacity, he managed the activities of the department, which include analyzing current and prospective developments in foreign countries and commodity prices, as well as providing analysis and policy advice on global economic and financial issues. He also guided the conduct of in-depth research on topics related to international financial markets and the global economy.

Mr. Coletti rejoined the Bank in 2000 after two years at the Department of Finance. He has held a number of senior positions, including Research Director for both the International and Research departments and Assistant Chief for Canadian Projections and Model Development. From 2008 until 2010, he was Deputy Chief of the Bank’s Canadian Economic Analysis Department.

Mr. Coletti obtained both a bachelor of arts and a master’s degree in economics at the University of Western Ontario.

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Staff Working Papers

Commodities and Monetary Policy: Implications for Inflation and Price Level Targeting

We examine the relative ability of simple inflation targeting (IT) and price level targeting (PLT) monetary policy rules to minimize both inflation variability and business cycle fluctuations in Canada for shocks that have important consequences for global commodity prices.

What Drives Exchange Rates? New Evidence from a Panel of U.S. Dollar Bilateral Exchange Rates

We use a novel approach to identify economic developments that drive exchange rates in the long run. Using a panel of six quarterly U.S. bilateral real exchange rates – Australia, Canada, the euro, Japan, New Zealand and the United Kingdom – over the 1980-2007 period, a dynamic factor model points to two common factors.

Inflation Targeting and Price-Level-Path Targeting in the GEM: Some Open Economy Considerations

Staff Working Paper 2008-6 Donald Coletti, René Lalonde, Dirk Muir
This paper compares the performance of simple inflation targeting (IT) and price-level path targeting (PLPT) rules to stabilize the macroeconomy, in response to a series of shocks, similar to those seen in Canada and the United States over the 1983 to 2004 period.

Monetary Rules When Economic Behaviour Changes

Staff Working Paper 1999-8 Robert Amano, Donald Coletti, Tiff Macklem
This paper examines the implications of changes in economic behaviour for simple inflation-forecast–based monetary rules of the type currently used at two inflation-targeting central banks. Three types of changes in economic behaviour are considered, changes that are motivated by developments in monetary and fiscal policy in the 1990s: changes in monetary policy credibility, changes in […]

Journal Publications

Other publications

  • "Constructing the Staff Economic Projection at the Bank of Canada"
    In: Practical Experience with Inflation Targeting, proceedings of a conference held by the Czech National Bank. May 2004.
  • "Empirical Estimation and the Quarterly Projection Model: An Example Focussing on the External Sector"
    (with Robert Amano and Stephen Murchison), Sveriges Riksbank Working Paper No. 104.