Mikael Khan

Director

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Director
Financial Stability
Real Sector Stability

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

Latest

Disentangling the Factors Driving Housing Resales

Staff Analytical Note 2019-12 Mikael Khan, Taylor Webley
We use a recently developed model and loan-level micro data to decompose movements in housing resales since 2015. We find that fundamental factors, namely housing affordability and full-time employment, have had offsetting effects on resales over our study period.
Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Econometric and statistical methods, Financial stability, Financial system regulation and policies, Housing, Recent economic and financial developments JEL Code(s): C, C2, C22, E, E2, R, R2, R21

Non-Resident Taxes and the Role of House Price Expectations

Staff Analytical Note 2019-8 Mikael Khan, Matthieu Verstraete
In recent years, the governments of Ontario and British Columbia have imposed taxes on purchases by non-Canadian residents of residential properties in certain jurisdictions.
Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Financial stability, Housing JEL Code(s): D, D8, D84, R, R2, R21

Personal Experiences and House Price Expectations: Evidence from the Canadian Survey of Consumer Expectations

Staff Analytical Note 2018-8 Mikael Khan, Matthieu Verstraete
In this work, we use novel Canadian survey data to study how expectations of future changes in house prices are influenced by personal experiences. We find that recently experienced changes in local house prices are routinely extrapolated into expectations of year-ahead changes in national house prices.
Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Financial stability, Housing
November 19, 2015

A Survey of Consumer Expectations for Canada

Bank of Canada Review - Autumn 2015 Marc-André Gosselin, Mikael Khan
The Bank of Canada recently launched a quarterly survey to measure the expectations of Canadian households: the Canadian Survey of Consumer Expectations (CSCE). The data collected provide comprehensive information about consumer expectations for and uncertainty about inflation, the labour market and household finance. This article describes the CSCE and illustrates its potential to offer rich information about Canadian consumers for researchers and policy-makers.
Content Type(s): Publications, Bank of Canada Review Article Topic(s): Central bank research, Housing, Inflation and prices, Interest rates, Labour markets, Uncertainty and monetary policy JEL Code(s): D, D1, D12, D8, D84, E, E3, E31, E5, E52, J, J0

A Comprehensive Evaluation of Measures of Core Inflation for Canada

Staff Discussion Paper 2015-12 Mikael Khan, Louis Morel, Patrick Sabourin
This paper evaluates the usefulness of various measures of core inflation for the conduct of monetary policy. Traditional exclusion-based measures of core inflation are found to perform relatively poorly across a range of evaluation criteria, in part due to their inability to filter unanticipated transitory shocks.
Content Type(s): Staff Research, Staff Discussion Papers Topic(s): Inflation and prices, Monetary policy framework JEL Code(s): E, E3, E31, E5, E52

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Education

  • M.A. (Economics), Queen’s University (2011)
  • B.A. (Economics), Queen’s University (2009)

Research Interests

  • Macroeconomics
  • Monetary Economics

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