Yang Zhang is the Director of the Model Development Division of the Canadian Economic Analysis (CEA) department, effective since October 2019. In this capacity, she leads efforts to develop and integrate state-of-the-art economic models for the analysis of the Canadian economy and for providing monetary policy advice. Her responsibilities include leading high-quality research that supports the renewal of the Bank’s monetary policy framework. In this position, Ms. Zhang also collaborates closely with the academic and the international central banking communities. She is involved in the development of the next generation of Bank’s monetary policy models.
Ms. Zhang joined the Bank in 2007 as an Economist in the Canadian Projection & Policy Analysis Division of CEA. In this role she provided key inputs into the Staff Economic Projection, produced risk analyses as well as contributed to policy discussions. In 2009, she became a Senior Economist in the Model Development Division and held increasingly senior positions, recently as the Principal Economist of the team.
Ms. Zhang has deep knowledge and expertise in model development and monetary policy analysis. Her recent work focuses on modelling unconventional monetary policies and alternative expectation formations in DSGE models and the development of Agent-Based models. She also conducts research to support social good such as health and economic equality, using advanced computational methods including machine learning and artificial intelligence.
Born in China, Ms. Zhang holds a PhD in Economics from University of Ottawa.
Staff discussion papers
The Bank of Canada’s “Horse Race” of Alternative Monetary Policy Frameworks: Some Interim Results from Model SimulationsBank of Canada staff are running a “horse race” of alternative monetary policy frameworks in the lead-up to 2021 renewal of the Bank’s monetary policy framework. This paper summarizes some interim results of model simulations from their research.
Staff working papers
Bank of Canada Review articles
- “COVI-AgentSim: an Agent-based Model for Evaluating Methods of Digital Contact Tracing”
(with Prateek Gupta et al.)
- “Imperfect Asset Substitution in a Small Open Economy Model”
(with Jose Dorich and Rhys Mendes)