Rose Cunningham

Director

Rose Cunningham is the Director of the Emerging Markets Division in the International Economic Analysis Department. She oversees the Bank’s policy analysis and forecasts for the economies of China and other major emerging market countries. Her research interests include monetary policy, inflation, real-financial linkages, business cycles and housing market cycles. She holds a PhD in economics from Carleton University.

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Rose Cunningham

Director
International Economic Analysis
Emerging Markets Division

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

Curriculum vitae

Latest

The Size and Destination of China’s Portfolio Outflows

Staff Discussion Paper 2018-11 Rose Cunningham, Eden Hatzvi, Kun Mo
The size of China’s financial system raises the possibility that the liberalization of its capital account could have a large effect on the global financial system. This paper provides a counterfactual scenario analysis that estimates what the size and direction of China’s overseas portfolio investments would have been in 2015 if China had had no restrictions on these outflows.

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.

The Role of Central Banks in Promoting Financial Stability: An International Perspective

Staff Discussion Paper 2016-15 Rose Cunningham, Christian Friedrich
The 2007–09 global financial crisis has led policy-makers around the world, including central banks, to refocus their efforts to promote financial stability. As part of this process, central banks became quite active in supporting financial stability in a variety of ways, such as publicly sharing their assessments of financial system vulnerabilities and risks and helping to strengthen regulation, supervision and macroprudential measures.

Monetary Policy and Financial Stability: Cross-Country Evidence

Staff Working Paper 2015-41 Christian Friedrich, Kristina Hess, Rose Cunningham
Central banks may face challenges in achieving their price stability goals when financial stability risks are present. There is, however, considerable heterogeneity among central banks with respect to how they manage these potential trade-offs.

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Refereed Journal Articles

Education

  • Ph.D., Carleton University (2004)
  • M.A., Carleton University (1998)
  • B.A.(Honours), University of Waterloo (1994)

Research Interests

  • Monetary policy and inflation dynamics
  • Business cycle dynamics
  • Credit cycle and real-financial linkages
  • Housing markets

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