Oleksiy Kryvtsov

oleksiy-kryvtsov

Research Director

Oleksiy Kryvtsov is the Research Director in the International Economic Analysis Department. His research interests center on business cycle fluctuations, with a special focus on monetary theory and policy. Oleksiy contributed to topics including consumer price behaviour, real effects of monetary policy shocks, dynamics of markups and costs over the business cycle. Oleksiy received his PhD in Economics from the University of Minnesota in 2004.

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Oleksiy Kryvtsov

Research Director
International Economic Analysis

Bank of Canada
234 Laurier Avenue West
Ottawa, ON, K1A 0G9

Curriculum vitae

Latest

The Optimal Level of the Inflation Target: A Selective Review of the Literature and Outstanding Issues

Staff Discussion Paper 2015-8 Oleksiy Kryvtsov, Rhys R. Mendes
Bank of Canada research done prior to the most recent renewal of the inflation-control agreement in 2011 concluded that the benefits associated with a target below 2 per cent were insufficient to justify the increased risk of being constrained by the zero lower bound (ZLB) on nominal interest rates.
Content Type(s): Staff Research, Staff Discussion Papers Topic(s): Inflation targets, Inflation: costs and benefits, Monetary policy framework JEL Code(s): E, E5, E52, E58

On the Nexus of Monetary Policy and Financial Stability: Recent Developments and Research

Staff Discussion Paper 2015-7 Oleksiy Kryvtsov, Miguel Molico, Ben Tomlin
Because financial and macroeconomic conditions are tightly interconnected, financial stability considerations are an important element of any monetary policy framework. Yet, the circumstances under which it would be appropriate for the Bank to use monetary policy to lean against financial risks need to be more fully specified (Côté 2014).
Content Type(s): Staff Research, Staff Discussion Papers Topic(s): Financial stability, Monetary policy framework JEL Code(s): E, E0, E4, E44, E5, E52, E58, G, G1, G18

13 November 2014 Recent Developments in Experimental Macroeconomics

Bank of Canada Review - Autumn 2014 Robert Amano, Oleksiy Kryvtsov, Luba Petersen
This article describes experimental economics, in general, and new developments in experimental macroeconomics, in particular. The approach has a clear niche in providing evidence on economic phenomena that cannot be observed directly or that are difficult to measure. Experimental work conducted by Bank of Canada economists has shed light on a number of issues important to monetary policy, such as the relative efficacy between price-level and inflation targeting, and the nature of inflation expectations formation.
Content Type(s): Publications, Bank of Canada Review Article Topic(s): Inflation and prices, Monetary policy framework JEL Code(s): C, C9, E, E3, E31, E5, E52

On the Importance of Sales for Aggregate Price Flexibility

Staff Working Paper 2014-45 Oleksiy Kryvtsov, Nicolas Vincent
Macroeconomists have traditionally ignored the behavior of temporary price markdowns (“sales”) by retailers. Although sales are common in the micro price data, they are assumed to be unrelated to macroeconomic phenomena and generally filtered out.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Business fluctuations and cycles, Economic models, Inflation and prices, Market structure and pricing, Transmission of monetary policy JEL Code(s): E, E3, E31, E32, E5, E52, L, L1, L11, L2, L25, L8, L81, M, M3, M31

Expectations and Monetary Policy: Experimental Evidence

Staff Working Paper 2013-44 Oleksiy Kryvtsov, Luba Petersen
The effectiveness of monetary policy depends, to a large extent, on market expectations of its future actions. In a standard New Keynesian business-cycle model with rational expectations, systematic monetary policy reduces the variance of inflation and the output gap by at least two-thirds.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Business fluctuations and cycles, Monetary policy implementation, Transmission of monetary policy JEL Code(s): C, C9, D, D8, D84, E, E3, E5, E52

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Education

  • Ph.D. in Economics, University of Minnesota, 2004
  • M.A. in Economics, Bowling Green State University (Ohio), 1999
  • Specialist (M.S.) in Physics, Kyiv State University, Kyiv, Ukraine, 1997

Research Interests

  • macroeconomics
  • monetary economics

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Oleksiy Kryvtsov

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