Wei Dong - Latest

• Assessing the US and Canadian neutral rates: 2025 update

  Staff analytical note 2025-16 Frida Adjalala, Felipe Alves, William Beaudoin, Hélène Desgagnés, Wei Dong, Ingomar Krohn, Jan David Schneider

  We assess both the US and Canadian nominal neutral rates to be in the range of 2.25% to 3.25%, unchanged from the range assessed in 2024.

  Content Type(s): Staff research, Staff analytical notes Research Topic(s): Economic models, Interest rates, Monetary policy JEL Code(s): E, E4, E40, E43, E5, E50, E52, E58, F, F4, F41 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Real economy and forecasting, Structural challenges, Demographics and labour supply

• Assessing the US and Canadian neutral rates: 2024 update

  Staff analytical note 2024-9 Frida Adjalala, Felipe Alves, Hélène Desgagnés, Wei Dong, Dmitry Matveev, Laure Simon

  We assess both the US and Canadian nominal neutral rates to be in the range of 2.25% to 3.25%, somewhat higher than the range of 2.0% to 3.0% in 2023. The assessed range is back to the level it was at in April 2019.

  Content Type(s): Staff research, Staff analytical notes Research Topic(s): Economic models, Interest rates, Monetary policy JEL Code(s): E, E4, E40, E43, E5, E50, E52, E58, F, F4, F41 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Structural challenges, Demographics and labour supply

• Complementarities Between Fiscal Policy and Monetary Policy—Literature Review

  Staff discussion paper 2021-4 Wei Dong, Geoffrey R. Dunbar, Christian Friedrich, Dmitry Matveev, Romanos Priftis, Lin Shao

  This paper surveys and summarizes the literature on how fiscal policy and monetary policy can complement each other in stabilizing economic activity.

  Content Type(s): Staff research, Staff discussion papers Research Topic(s): Fiscal policy, Monetary policy JEL Code(s): E, E5, E52, E58, E6, E62, E63 Research Theme(s): Monetary policy, Monetary policy framework and transmission, Monetary policy tools and implementation, Real economy and forecasting

• Production Networks and the Propagation of Commodity Price Shocks

  Staff working paper 2020-44 Shutao Cao, Wei Dong

  We examine the macro implications of commodity price shocks in a model with multiple production sectors that are interconnected within a commodity-exporting small open economy.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, International topics JEL Code(s): D, D5, D57, F, F4, F41 Research Theme(s): Models and tools, Economic models, Monetary policy, Inflation dynamics and pressures, Real economy and forecasting, Structural challenges, International trade, finance and competitiveness

• 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 aggregate trade flows.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Exchange rates, Firm dynamics, International topics JEL Code(s): F, F1, F4 Research Theme(s): Financial markets and funds management, International markets and currencies, Models and tools, Economic models, Monetary policy, Monetary policy framework and transmission, Structural challenges, International trade, finance and competitiveness

• 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.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Credit and credit aggregates, Fiscal policy, International topics JEL Code(s): E, E4, E44, E6, E62 Research Theme(s): Financial system, Financial institutions and intermediation, Household and business credit, Models and tools, Economic models, Monetary policy, Real economy and forecasting

• 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 Research 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 Research Theme(s): Financial markets and funds management, Market structure, Monetary policy, Inflation dynamics and pressures, Structural challenges, Digitalization and productivity

• 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 Research Topic(s): Firm dynamics, Service sector JEL Code(s): D, D2, D22, L, L8, L86, O, O3, O33 Research Theme(s): Structural challenges, Demographics and labour supply, Digitalization and productivity, International trade, finance and competitiveness
• November 19, 2010

  Has Exchange Rate Pass-Through Really Declined? Some Recent Insights from the Literature

  Bank of Canada Review - Autumn 2010 Jeannine Bailliu, Wei Dong, John Murray

  Building on an earlier Review article, the authors critically reassess the premise that exchange rate pass-through (ERPT) has declined in light of recent studies of the issue in the context of a dynamic stochastic general-equilibrium framework.

  Content Type(s): Publications, Bank of Canada Review articles Research Topic(s): Economic models, Exchange rates, Inflation and prices, Monetary policy framework