- M.A. in Economics, Queen's University (2012)
- B.A in Economics, University of Alberta (2011)
Maxime Leboeuf is a Senior Analyst in the Financial Markets Department at the Bank of Canada. Maxime also worked in the Advanced Economies Division of the International Department between 2012 and 2015. Primary research interests center on finance, macroeconomic, forecasting and applied econometrics. Maxime holds a Master’s degree in Economics from Queen’s University.
Staff analytical notes
Is the Excess Bond Premium a Leading Indicator of Canadian Economic Activity?This note investigates whether Canadian corporate spreads and the excess bond premium (EBP) lead Canadian economic activity. Indeed, we find that corporate spreads precede changes in real gross domestic product (GDP) in Canada over the subsequent year. The EBP accounts for most of this property. Further, an unanticipated increase in the Canadian EBP forecasts a deterioration of domestic macroeconomic conditions: a 10-basis-point increase results in a fall in both GDP and consumer price index (CPI) of 0.4 per cent and 0.1 per cent, respectively, over three years.
Can the Canadian International Investment Position Stabilize a Slowing Economy?In this note, we find that valuation effects can act as an important stabilizer, strengthening Canada’s net external wealth when its economic outlook worsens relative to that of other countries.
What Explains the Recent Increase in Canadian Corporate Bond SpreadsThe spread between the yield of a corporate bond and the yield of a similar Government of Canada bond reflects compensation for possible default by the issuing firm and compensation for additional risks beyond default.
Staff discussion papers
What Is Behind the Weakness in Global Investment?The recovery in private business investment globally remains extremely weak more than seven years after the financial crisis. This paper contributes to the ongoing policy debate on the factors behind this weakness by analyzing the role of growth prospects and uncertainty in explaining developments in non-residential private business investment in large advanced economies since the crisis.
Forecasting Short-Term Real GDP Growth in the Euro Area and Japan Using Unrestricted MIDAS RegressionsIn this paper, the authors develop a new tool to improve the short-term forecasting of real GDP growth in the euro area and Japan. This new tool, which uses unrestricted mixed-data sampling (U-MIDAS) regressions, allows an evaluation of the usefulness of a wide range of indicators in predicting short-term real GDP growth.
Financial System Review articles
June 7, 2018
The Bank of Canada’s Financial System SurveyThis report presents the details of a new semi-annual survey that will improve the Bank of Canada’s surveillance across the financial system and deepen efforts to engage with financial system participants. The survey collects expert opinions on the risks to and resilience of the Canadian financial system as well as on emerging trends and financial innovations. The report presents an overview of the survey and provides high-level results from the spring 2018 survey.
June 8, 2017