Wei Dong

Research Advisor

Wei Dong is Research Advisor in the Canadian Economic Analysis Department at the Bank of Canada. Her research interests are open economy macroeconomics and international finance. Wei received her PhD in economics from the University of Wisconsin, Madison.


Research Advisor
Canadian Economic Analysis
Strategic Leadership and Support

Bank of Canada
150 King Street West, Suite 2000
Toronto, ON, M5H 1J9


Trade Flows and Exchange Rates: Importers, Exporters and Products

Staff Working Paper 2019-41 Michael Devereux, Wei Dong, Ben Tomlin
Using highly disaggregated transaction-level trade data, we document the importance of new firm level trade partner relationships and the addition of new products to existing relationships in driving long-run import flows.

Non-Performing Loans, Fiscal Costs and Credit Expansion in China

Staff Working Paper 2018-53 Huixin Bi, Yongquan Cao, Wei Dong
This paper studies how the credit expansion policy pursued by the Chinese government in an effort to stimulate its economy in the post-crisis period affects bank–firm loan contracts and the macroeconomy. We build a structural model with financial frictions in which the optimal loan contract reflects the trade-off between leverage and the probability of default.

Digital Transformation in the Service Sector: Insights from Consultations with Firms in Wholesale, Retail and Logistics

Staff Analytical Note 2017-19 Wei Dong, James Fudurich, Lena Suchanek
Firms increasingly rely on digital technologies such as e-commerce, cloud computing, big data, digital tracking and digital platforms that are reshaping business operations, business models and market structures. In this context, the Bank of Canada consulted with firms in wholesale, retail and logistics, as well as with related industry associations to yield insights on the adoption of digital technologies.
Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Firm dynamics, Inflation and prices, Service Sector JEL Code(s): D, D2, D22, E, E3, E31, L, L8, L81, L9, L92, O, O3, O33

The Digital Economy—Insight from a Special Survey with IT Service Exporters

Staff Discussion Paper 2016-21 Wei Dong, James Fudurich, Lena Suchanek
Information technology (IT) is an increasingly integral part of everyday business and personal life reflecting the ongoing and accelerating digital transformation of the economy. In this paper, we present information gathered from a survey with export-oriented firms in the Canadian IT service industry and consultations with industry associations aimed at shedding light on this small but highly dynamic sector.
Content Type(s): Staff Research, Staff Discussion Papers Topic(s): Firm dynamics, Service Sector JEL Code(s): D, D2, D22, L, L8, L86, O, O3, O33

Exchange Rate Pass-Through, Currency of Invoicing and Market Share

Staff Working Paper 2015-31 Michael Devereux, Wei Dong, Ben Tomlin
This paper investigates the impact of market structure on the joint determination of exchange rate pass-through and currency of invoicing in international trade. A novel feature of the study is the focus on market share of firms on both sides of the market—that is, exporting firms and importing firms.

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Refereed Journals

  • “Importers and Exporters in Exchange Rate Pass-Through and Currency Invoicing”
    (with Michael Devereux and Ben Tomlin), Journal of International Economics, March 2017, Volume 105, Pages 187-204.
  • “Pricing-to-Market, Currency Invoicing and Exchange Rate Pass-Through to Producer Prices”
    (with Shutao Cao and Ben Tomlin), Journal of International Money and Finance, 58, November 2015: 128-149.
  •  “Do Central Banks Respond to Exchange Rate Movements? Some New Evidence from Structural Estimation”
    Canadian Journal of Economics, 46(2), May 2013: 555-586.
  • “The Quantitative Importance of the Expenditure-Switching Effect”
    Open Economies Review, 24(2), 2013: 311-338.
  • “Exchange Rates and Individual Good's Price Misalignment: Evidence of Long-horizon Predictability”
    (with Deokwoo Nam), Journal of International Money and Finance, 32, February 2013: 611-636.
  • “The Role of Expenditure Switching in the Global Imbalance Adjustment”
    Journal of International Economics, 86(2), March 2012: 237-251.


  • Ph.D., University of Wisconsin-Madison, 2006
  • M.S., University of Wisconsin-Madison, 2004
  • B.A., Nankai University, 2001

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