Kristina Hess

Senior Economist

Kristina Hess is a senior economist in the Advanced Economies Division of the International Economic Analysis Department. She joined the Bank in September 2012 after completing the MA Economics program at Queen’s University.

Contact

Senior Economist
International Economic Analysis
Advanced Economies Division

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

Latest

Drivers of Weak Wage Growth in Advanced Economies

Since the global financial crisis, advanced-economy wage growth has been generally low relative to past recoveries, especially after accounting for the evolution of labour market conditions over this period. This paper investigates a variety of potential explanations for this weakness, drawing on findings from the literature as well as analysis of recent labour market data in advanced economies.
Content Type(s): Staff Research, Staff Analytical Notes Topic(s): International topics, Labour markets JEL Code(s): E, E3, E31, F, F0, J, J3

Assessing Global Potential Output Growth: April 2018

This note presents our estimates of potential output growth for the global economy through 2020. Overall, we expect global potential output growth to remain broadly stable over the projection horizon, averaging 3.3 per cent, although there is considerable uncertainty surrounding these estimates.

Understanding the Time Variation in Exchange Rate Pass-Through to Import Prices

Staff Discussion Paper 2017-12 Rose Cunningham, Min Jae Kim, Christian Friedrich, Kristina Hess
In this paper, we analyze the presence of time variation in the pass-through from the nominal effective exchange rate to import prices for 24 advanced economies over the period 1995–2015. In line with earlier studies in the literature, we find substantial heterogeneity in the level of exchange rate pass-through across countries.

Low Inflation in Advanced Economies: Facts and Drivers

Since the global financial crisis, core inflation has been persistently below target in most advanced economies. Recently, it has weakened further in several advanced economies despite gradually diminishing slack. This note reviews recent developments in core inflation across advanced economies and identifies distinctive patterns across regions.
Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Inflation and prices, International topics JEL Code(s): E, E0, E3, E31, F, F0

Assessing Global Potential Output Growth

This note estimates potential output growth for the global economy through 2019. While there is considerable uncertainty surrounding our estimates, overall we expect global potential output growth to rise modestly, from 3.1 per cent in 2016 to 3.4 per cent in 2019.

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Other

Journal Publications

  • “Monetary Policy and Financial Stability: Cross-Country Evidence” (with Christian Friedrich and Rose Cunningham), Journal of Money, Credit and Banking, Vol 51: 403-453, March-April 2019.
  • “International Transmission Channels of U.S. Quantitative Easing: Evidence from Canada” (with Tatjana Dahlhaus and Abeer Reza), Journal of Money, Credit and Banking, Vol 50: 545-563, March-April 2018.

Education

  • M.A. (Economics) Queen’s University (2012)
  • B.A. (Economics) University of British Columbia (2010)

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