Paul Beaudry was appointed Deputy Governor of the Bank of Canada, effective February 2019. In this capacity, he is one of two deputy governors responsible for overseeing the Bank’s analysis and activities in promoting a stable and efficient financial system. As a member of the Bank’s Governing Council, shares responsibility for decisions with respect to monetary policy and financial system stability and for setting the strategic direction of the Bank.
At the time of his appointment to the Bank of Canada, Mr. Beaudry was Professor at the University of British Columbia’s Vancouver School of Economics. Mr. Beaudry began his career as assistant professor at the Université de Montréal in 1989. From 1990 to 1994, he was an assistant professor at Boston University. In 1994, he became an associate professor at the University of British Columbia before being promoted to full professor in 1996. During 2009 and 2010, Mr. Beaudry held the Chair in Economics at All Souls College, Oxford University.
Mr. Beaudry is a two-time former laureate of the Bank of Canada’s Research Fellowship Award. He is a Fellow of the Royal Society of Canada, and a Research Associate at the National Bureau of Economic Research. He has been a Visiting Professor at European University Institute, MIT, Nuffield College Oxford, Sorbonne Paris I, the Université de Montréal and the University of Toulouse. Recognition of his work includes the Canada Research Chair in Macroeconomics (2000-2015) and the John Rae Prize from the Canadian Economics Association (2008).
Born in Montréal, Quebec, Mr. Beaudry holds a BA in Economics from Laval University, an MA in Economics from the University of British Columbia, and a PhD in Economics from Princeton University.
In our Financial System Review, we identify the main vulnerabilities and risks to financial stability in Canada and explain how they have evolved over the past year. This issue reflects the Bank’s judgment that the vulnerabilities associated with high household debt and imbalances in the housing market have declined modestly but remain significant. The Financial System Review is a product of the Governing Council of the Bank of Canada: Stephen S. Poloz, Carolyn A. Wilkins, Timothy Lane, Lawrence Schembri, Lynn Patterson and Paul Beaudry.