Lena Suchanek

lena-suchanek

Principal Researcher

Lena Suchanek is a Principal Researcher in the Canadian Economic Analysis Department. Before joining the regional analysis team, she worked in the International Economic Analysis Department and at the European Central Bank. Lena contributes to the quarterly Business Outlook Survey and conducts regional and sectorial analysis. Her primary research interests include unconventional monetary policies and international economics.

Contact

Lena Suchanek

Principal Researcher
Canadian Economic Analysis
Regional Analysis

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

Latest

16 May 2016 A New Era of Central Banking: Unconventional Monetary Policies

Bank of Canada Review - Spring 2016 Eric Santor, Lena Suchanek
Central banks can implement unconventional monetary policy measures to provide additional easing when policy interest rates come close to their lower limit. To date, the international experience with tools such as quantitative easing and negative interest rates has been largely positive. Central banks may also use several such measures simultaneously, with often mutually reinforcing effects. Yet, unconventional tools are also subject to potential limits, and the costs associated with these measures could rise with extensive and prolonged use.
Content Type(s): Publications, Bank of Canada Review Article Topic(s): Interest rates, International topics, Monetary policy framework, Transmission of monetary policy JEL Code(s): E, E5, E52, E58, E6, E61, E65

Quantitative Easing as a Policy Tool Under the Effective Lower Bound

Staff Discussion Paper 2015-14 Abeer Reza, Eric Santor, Lena Suchanek
This paper summarizes the international evidence on the performance of quantitative easing (QE) as a monetary policy tool when conventional policy rates are constrained by the effective lower bound (ELB). A large body of evidence suggests that expanding the central bank’s balance sheet through large-scale asset purchases can provide effective stimulus under the ELB.
Content Type(s): Staff Research, Staff Discussion Papers Topic(s): Central bank research, International topics, Monetary policy framework, Transmission of monetary policy JEL Code(s): E, E5, E52, E58, E6, E61, E65, N, N1, N10

Large-Scale Asset Purchases: Impact on Commodity Prices and International Spillover Effects

Staff Working Paper 2015-21 Sharon Kozicki, Eric Santor, Lena Suchanek
Prices of commodities, including metals, energy and agricultural products, rose markedly over the 2009–2010 period. Some observers have attributed a significant part of this increase in commodity prices to the U.S. Federal Reserve’s large-scale asset purchase (LSAP) programs.
Content Type(s): Staff Working Papers Topic(s): International topics JEL Code(s): E, E5, E58, G, G1, G14, Q, Q0, Q00

Why Do Canadian Firms Invest and Operate Abroad? Implications for Canadian Exports

Staff Discussion Paper 2014-7 Martin Coiteux, Patrick Rizzetto, Lena Suchanek, Jane Voll
Canadian foreign direct investment and sales of Canadian multinational firms’ operations abroad, particularly in the manufacturing industry and in the United States, have accelerated sharply over the past decade.
Content Type(s): Staff Research, Staff Discussion Papers Topic(s): International topics, Recent economic and financial developments JEL Code(s): F, F1, F10, F2, F21, F23, F4, F41

The Effect of the Federal Reserve’s Tapering Announcements on Emerging Markets

Staff Working Paper 2014-50 Vikram Rai, Lena Suchanek
The Federal Reserve’s quantitative easing (QE) program has been accompanied by a flow of funds into emerging-market economies (EMEs) in search of higher returns.
Content Type(s): Staff Research, Staff Working Papers Topic(s): International financial markets, International topics, Transmission of monetary policy JEL Code(s): C, C3, C33, E, E5, E58, F, F3, F32, G, G1, G14

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Other

Refereed journals

  • "Current Account Dynamics, Real Exchange Rate Adjustment and the Exchange Rate Regime in Emerging-Market Economies"
    (with Olivier Gervais and Lawrence Schembri), Journal of Development Economics, Vol. 119, March 2016, p. 86-89.

Other Publications

Other Research

 

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Education

  • M.Sc. Economics, Université du Québec à Montréal, 2007
  • B.Sc. Management and Economics, Otto-von-Guericke University, Germany, 2005

Research Interests

  • International macroeconomics
  • Unconventional monetary policy
  • International finance

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