External academic consultants

Brett Barnes

"I am a PhD candidate in Economics at the Lang School of Business and Economics at the University of Guelph and a recipient of the SSHRC Doctoral Fellowship. My research focuses on environmental innovation and the use of natural language processing and machine learning to analyze large-scale textual data. My ongoing collaboration with the Bank of Canada focuses on constructing news-based indicators of financial stress and examining their relationship with financial markets and macro-financial conditions."

Gregory Bauer

"I am the Associate Dean, Strategic Partnerships and full Professor at the Gordon S. Lang School of Business and Economics. Prior to joining Lang, I was the Michael J. Barclay Alumni Professor and Associate Dean of Full-Time Programs at the Simon Business School, University of Rochester. In that role, I was responsible for admissions, academic affairs and career advice for the full-time MBA, MS in Finance, MS in Accounting, MS in Business Analytics and MS in Marketing Analytics programs. I received my doctorate from the Wharton School of Business at the University of Pennsylvania. I also hold the Chartered Financial Analyst (CFA) designation.

Prior to rejoining the Simon School in a full-time capacity in 2017, I worked at the Bank of Canada for 17 years in a variety of roles. My last position was as the Senior Research Director in the Financial Markets Department. My research has contributed to important public policy debates on: the likelihood of house price corrections; the interaction of monetary and financial stability policies; and, the limitations imposed by global financial markets on the ability of central banks to conduct conventional and non-conventional monetary policies. My work has received attention in the Canadian press and had an impact on the inflation-targeting agreement between the Bank and the Government of Canada. I have published articles in the Journal of Financial Economics, the Review of Economic Studies, the Journal of Econometrics, the Journal of International Money and Finance, and the International Journal of Central Banking.

My current research is focused on the Government of Canada bond market. In collaboration with researchers at the Bank, I am examining the role of asymmetric information in the market and evaluating the impact of the Bank’s policy interventions during the COVID-19 pandemic.”

Michael Boutros

“I am an Assistant Professor of Economics at the University of Toronto, focusing on the interaction between household-level financial decisions and macroeconomic conditions. Before joining the University of Toronto, I spent three years in the Financial Stability Department at the Bank of Canada.

Kyra Carmichael

"I am a PhD student in the Department of Economics at Northwestern University. My primary areas of research interest are macroeconomics and household finance. My ongoing collaboration with the Bank of Canada focuses on household-level borrowing responses to tighter macroprudential policy.”

Minnie Cui

"I am a PhD student in the Finance and Economics joint program at the University of Wisconsin-Madison. My primary area of research interest concerns empirical industrial organization and household finance. My ongoing collaboration with the Bank of Canada focuses on household and multi-product retail firm behaviors amidst supply chain disruptions during the COVID-19 pandemic."

Evan Dudley

“I am an Associate Professor and Distinguished Faculty Fellow of Finance. My research interests lie in corporate finance, climate finance, and fixed-income markets. Currently, my research focuses on the role of intermediaries and technology in over-the-counter markets. I am also investigating the pricing of climate transition risk in capital markets and examining how corporate pollution events impact institutional bond holdings.

I have taught across undergraduate, graduate, and professional MBA programs, including the University of Florida’s Professional MBA program, the Smith School of Business Full-Time MBA, and the Smith School of Business Master’s in Finance program in Toronto. I am the recipient of multiple Social Science and Humanities Research Council (SSHRC) grants and have served on the SSHRC Insight Grants review committee.

I earned a PhD in Finance from the University of Rochester and previously served on the faculty at the University of Florida. My professional experience includes working in risk management and fixed-income sales and trading with National Bank of Canada and National Bank Financial.”

Rene Garcia

"I am currently an emeritus professor in the Department of Economics at the Université de Montréal, where I taught econometrics and finance as a full professor from 2016 to 2024 and continue to serve as an adjunct professor. My academic journey began with a Ph.D. in economics from Princeton University, which laid the foundation for a career at the intersection of econometrics and financial economics.

My professional path has been closely tied to both the Université de Montréal and the broader international academic community. After joining the Université de Montréal in 1991, I progressed through the ranks from assistant to full professor over more than fifteen years. During this period, I also held the Hydro-Québec Chair in Integrated Risk Management and Financial Mathematics and was honored with a research fellowship from the Bank of Canada. I later spent nearly a decade, from 2007 to 2016, as Chair Professor at EDHEC Business School, before returning to Montréal.

Beyond teaching and research, I have been actively involved in academic institution-building. I served as Scientific Director of CIRANO from 2003 to 2008, after contributing to its activities as Vice-President of the Finance group. I also co-founded, with Eric Renault, the Journal of Financial Econometrics (Oxford University Press), and served as its Editor-in-Chief for nearly a decade, from 2003 to 2012. I remain closely connected to the research community as a Fellow of CIREQ and CIRANO, and as an associate member of the Toulouse School of Economics.

My research has evolved over time but remains centered on key questions in finance and econometrics. I have worked extensively on asset pricing, portfolio management, and risk management, with a particular emphasis in econometrics on nonlinear and regime-switching models. More recently, my research has explored the role of funding liquidity in asset pricing, the construction of financial tail risk indices using high-frequency data, and the application of deep machine learning techniques to dynamic portfolio allocation problems. My work has been published in leading international journals."

Dimitri Hadjistavropoulos

“I am a PhD candidate in Finance at the Smith School of Business, Queen's University. My primary research interests include financial intermediation and the term structure of interest rates. My ongoing collaboration with the Bank of Canada examines various features of repo markets and their influences on the Canadian Overnight Repo Rate Average (CORRA).”

Anson Ho

"I am an Assistant Professor in the Department of Real Estate Management at Toronto Metropolitan University. My primary research interests include consumer finance, housing, and macroeconomics. Prior to joining TMU in 2020, I worked at the Bank of Canada as a Senior Economist in the Financial Stability Department (2016-2020) and as an Assistant Professor at Kansas State University (2011-2016). I received my Ph.D. in economics from the University of Iowa in 2011."

Chay Ornthanalai

“I am an Associate Professor of Finance at the Rotman School of Management and an Associate Fellow at the Canadian Derivatives Institute (CDI). I joined Rotman in 2012 after earning my Ph.D. in Finance from the Desautels Faculty of Management at McGill University. My research interests include risk management, investment, derivative securities, and financial econometrics. Currently, I teach Financial Risk Management at Rotman.

I have received research funding from the Q-group, the Social Sciences and Humanities Research Council (SSHRC), the Canadian Derivatives Institute (CDI), and the Global Risk Institute (GRI). My work has been published in leading journals such as the Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Journal of Monetary Economics, and Review of Finance.”

Luba Peterson

I am an Associate Professor of Economics at Simon Fraser University and co-director of the SFU Experimental Economics Laboratory. I am also a Research Associate with the NBER, a Research Fellow for the CEPR RPN in Central Bank Communication, an Advisory Council Member for the Society for Computational Economics, and a Monetary Policy Institute fellow at the C.D. Howe Institute.

My research is centered on the design of monetary policy and central bank communication, focusing on how these tools can influence boundedly rational expectations and financial decision-making. I am especially interested in exploring ways to effectively communicate more complex monetary policies—such as those involving history-dependence and make-up strategies—to the general public. Additionally, I have a series of papers examining the design of forward guidance and the presentation of central bank projections. My areas of interest include macroeconomics, monetary policy and experimental economics.”

Eric Richert

"I am a Ph.D. Candidate in the Department of Economics at Queen’s University. I will be joining the Department of Economics at the University of Chicago in July 2023, following a one year postdoctoral position at Princeton University. My primary area of research interest lies at the intersection of Empirical Industrial Organization and Finance. Since many financial markets operate via auction-like mechanisms, my work both uses and develops tools for the empirical study of auctions. My job market paper, “Quantity Commitments in Multiunit Auctions: Evidence from Credit Event Auctions,” estimates a structural model of bidding behavior in these auctions and uses it to quantify the role of commitments and to consider the effect of potential changes to the auction design. My collaboration with the Bank of Canada focuses on the sale of government debt and the interaction of the primary and secondary market for Government of Canada securities."

Barry Scholnick

"I am the Roger S. Smith Professor of Business Economics in the Alberta School of Business, University of Alberta, Canada. The main focus of my research is on Household Finance. I have published in top Economics and Finance journals, including The Review of Financial Studies, The Review of Economics and Statistics, The Journal of Business, The Journal of Money, Credit and Banking, etc. I have been awarded multiple research grants from the Social Sciences and Humanities Research Council of Canada (SSHRC). I am currently working with the Bank of Canada on a variety of Household Finance projects."

André Stenzel

"I am an Assistant Professor at the Universidad de Los Andes in Santiago, Chile. Prior to joining UAndes, I was a Principal Researcher in the Currency Department at the Bank of Canada and have previously held positions as Post-Doctoral Researcher at the University of Mannheim and Lecturer (Assistant Professor) at the University of Leicester.

My research interests lie in the fields of Industrial Organization and Finance. I have worked on the evolution of the multi-sided market for payments, with an emphasis on the use of cash and the impact of a potential Central Bank Digital Currency. This work is also the focus of my collaboration with the Bank of Canada. In addition, I maintain an active interest in platform markets more generally, focusing on the strategic implications of information provision to and information transmission between market participants."

Remo Taudien

"I am a 5th-year PhD student in Economics at the University of Bern and the Study Center Gerzensee. My research interests include monetary theory, monetary policy, blockchain economics, financial stability and macroeconomics."