Hélène is a principal economist in the Model Development and Research Division of the Financial Stability Department. Prior to joining FSD, she worked in both the Model Development Division and the Projection Division of the Canadian Economic Analysis Department.
Staff Working Papers
I examine the impact of non-regulated lenders in the mortgage market using a dynamic stochastic general equilibrium (DSGE) model. My model features two types of financial intermediaries that differ in three ways: (i) only regulated intermediaries face a capital requirement, (ii) non-regulated intermediaries finance themselves by selling securities and cannot accept deposits, and (iii) non-regulated intermediaries face a more elastic demand.