James Kyeong


James Kyeong is an economist in the Financial Markets Department at the Bank of Canada. His primary research interests include macroeconomic, monetary policy spillovers and applied econometrics. James holds a Bachelor of Commerce and a Masters in Economics from Queen’s University.


James Kyeong

Financial Markets

Bank of Canada
234 Wellington Street
Ottawa, ON, K1A 0G9


The Share of Systematic Variations in the Canadian Dollar—Part III

Staff Analytical Note 2018-13 Guillaume Nolin, James Kyeong, Jean-Sébastien Fontaine
We draw a parallel between the dramatic increases of systematic variations in exchange rates and international bank lending. We find that when a country’s currency has a larger share of systematic variations, lending flows by international banks to that country become more sensitive to global lending - they also become more systematic. This parallel is particularly prevalent for large commodity exporters, including Canada. Global financial intermediation may open a new channel between the real economy and exchange rates.
Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Exchange rates JEL Code(s): F, F3, F31

November 24, 2017 The Impacts of Monetary Policy Statements

In this note, we find that market participants react to an unexpected change in the tone of Canadian monetary policy statements.

Foreign Flows and Their Effects on Government of Canada Yields

Foreign investment flows into Government of Canada (GoC) bonds have surged since the financial crisis. Our empirical analysis suggests that foreign flows of $150 billion lowered the 10-year GoC bond yield by 100 basis points between 2009 and 2012.

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  • M.A. in Economics (2016), Queen’s University
  • B.Com (2013), Queen’s University


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