Nuno Paixao is a Senior Economist in the Financial Stability Department at the Bank of Canada. He is a macroeconomist with research interests in financial economics, household finance, housing, banking and monetary policy. He received his Ph.D. in Economics from the University of Chicago.
We propose a model to understand low observed migration rates by considering the interaction between location and wealth decisions. We look at different policies and find that temporary moving vouchers only slightly increase welfare, while lower housing regulations can decrease the welfare gap by lowering house prices nationwide.
Interconnectedness between US states has affected the evolution of the COVID-19 pandemic. We study the optimal containment policies regulating the movement of goods and people within and between states.
We show that US banks price deposits almost uniformly across their branches and that this pricing practice is more important than increases in local market concentration in explaining the deposit rate dynamics following bank mergers.