Bio

Sarah Miller was appointed as the Regional Director (Economics) at the Bank of Canada’s Regional Office for the Atlantic Provinces in August 2023. In this capacity, she helps oversee a number of surveys of consumers and firms including the Business Outlook Survey and the Canadian Survey of Consumer Expectations.  Ms. Miller also directs and conducts research and analysis on economic issues relevant to the Bank’s monetary policy objectives. She plays a major role in the Office's activities in communicating the Bank's messages to a variety of external audiences and promoting an exchange of views on the economy and monetary policy.  

Ms. Miller first joined the Bank in 2010 as a Senior Economist in the Survey and Economic Intelligence Division in the Canadian Economics Analysis Department and then became a Principal Economist in 2018.

Born in Prince Edward Island, Ms. Miller holds a Ph.D. in economics from Dalhousie University. She is a member and past president of the Atlantic Association of Applied Economists (AAAE).

Research Field(s): Applied Econometrics Labour Economics Urban and Regional Economics

Staff analytical notes

Assessing the effects of higher immigration on the Canadian economy and inflation

Staff Analytical Note 2023-17 Julien Champagne, Erik Ens, Xing Guo, Olena Kostyshyna, Alexander Lam, Corinne Luu, Sarah Miller, Patrick Sabourin, Joshua Slive, Temel Taskin, Jaime Trujillo, Shu Lin Wee
We assess the complex macroeconomic implications of Canada’s recent population increases. We find that newcomers significantly boost the non-inflationary, potential growth of the economy, but existing imbalances in the housing sector may be exacerbated. Greater housing supply is needed to complement the long-term economic benefits of population growth.
Content Type(s): Staff research, Staff analytical notes Topic(s): Domestic demand and components, Housing, Inflation and prices, Labour markets, Potential output, Recent economic and financial developments JEL Code(s): A, A1, A10, E, E2, E20, E3, E31, J, J1, J11, J15

Has wage setting changed in Canada? Evidence from the pre-pandemic 2020 Wage-Setting Survey

Staff Analytical Note 2022-10 David Amirault, Sarah Miller, Matthieu Verstraete
Just before the pandemic began, the Bank of Canada conducted the 2020 Wage-Setting Survey. The goal was to explore the unusual trend of subdued wage growth in 2018 and 2019 despite a tightening in the labour market. Although this wage puzzle was beginning to resolve at the time of the survey, results highlight changes in several factors that may have important impacts on wage dynamics.
Content Type(s): Staff research, Staff analytical notes Topic(s): Central bank research, Labour markets JEL Code(s): J, J3, J31, J32, J33, J6, J63

The Bank of Canada COVID‑19 stringency index: measuring policy response across provinces

Staff Analytical Note 2021-1 Calista Cheung, Jerome Lyons, Bethany Madsen, Sarah Miller, Saarah Sheikh
We construct an index that systematically measures and tracks the stringency of government policy responses to the COVID-19 pandemic across Canadian provinces. Researchers can use this stringency index to analyze how the pandemic is affecting the economy.
Content Type(s): Staff research, Staff analytical notes Topic(s): Business fluctuations and cycles, Coronavirus disease (COVID-19), Domestic demand and components, Recent economic and financial developments, Regional economic developments JEL Code(s): E, E2, E20, H, H7, I, I1, I18, R, R1

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Staff discussion papers

What Consistent Responses on Future Inflation by Consumers Can Reveal

Staff Discussion Paper 2023-7 Sarah Miller, Patrick Sabourin
We analyze factors that may explain consistent answers to questions about inflation expectations in the Canadian Survey of Consumer Expectations. We also compare the inflation forecasts of consumers with consistent responses with those of professional forecasters.
Content Type(s): Staff research, Staff discussion papers Topic(s): Central bank research, Inflation and prices JEL Code(s): D, D8, D80, D84, E, E3, E31

What’s Up with Unit Non-Response in the Bank of Canada’s Business Outlook Survey? The Effect of Staff Tenure

Staff Discussion Paper 2017-11 Sarah Miller, David Amirault, Laurent Martin
Since 1997, the Bank of Canada’s regional offices have been conducting the Business Outlook Survey (BOS), a quarterly survey of business conditions. Survey responses are gathered through face-to-face, confidential consultations with a sample of private sector firms representative of the various sectors, firm sizes and regions across Canada.
Content Type(s): Staff research, Staff discussion papers Topic(s): Econometric and statistical methods, Firm dynamics, Regional economic developments JEL Code(s): C, C2, C21, C8, C81, D, D2, D22

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Staff working papers

What Drags and Drives Mobility: Explaining Canada’s Aggregate Migration Patterns

Staff Working Paper 2012-28 David Amirault, Daniel de Munnik, Sarah Miller
Using census data at the economic region level from 1991 to 2006 and a gravity model framework, this paper examines the factors that influence migration within Canada.
Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Labour markets, Regional economic developments JEL Code(s): J, J6, J61, R, R2, R23

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Bank publications

Bank of Canada Review articles

May 16, 2013

Explaining Canada’s Regional Migration Patterns

Bank of Canada Review - Spring 2013 David Amirault, Daniel de Munnik, Sarah Miller
Understanding the factors that determine the migration of labour between regions is crucial for assessing the economy’s response to macroeconomic shocks and identifying policies that will encourage an efficient reallocation of labour. By examining the determinants of migration within Canada from 1991 to 2006, this article provides evidence that regional differences in employment rates and household incomes tend to increase labour migration, and that provincial borders and language differences are barriers to migration.
Content Type(s): Publications, Bank of Canada Review articles Topic(s): Econometric and statistical methods, Labour markets, Regional economic developments JEL Code(s): J, J6, J61, R, R2, R23

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The Economy, Plain and Simple

Journal publications

Refereed journals