Xu Zhang is a Senior Economist in the Financial Markets Department at the Bank of Canada. She is a macroeconomist whose primary research focuses on the intersection of macroeconomics and finance, both theoretical and empirical. She looks at how central bank monetary policy affects financial market participants - households and financial intermediaries - and shed new light on underlying economic mechanisms linking financial markets with the real economy.

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Staff working papers

A New Measure of Monetary Policy Shocks

Staff Working Paper 2021-29 Xu Zhang
Combining various high frequency financial data with central bank projections, I construct a new measure of monetary policy shocks not predictable by the public information preceding a central bank’s announcements. I then study the causal effects of monetary policy on the macro economy.

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