Lena Suchanek

lena-suchanek

Director

Lena Suchanek was appointed Director, Regional Analysis Division, of the Bank of Canada’s Canadian Economic Analysis Department in January 2018. In this capacity, she is part of the leadership team that directs and manages the department and oversees the economic analysis activities of the Bank’s five regional offices (Vancouver, Calgary, Toronto, Montréal and Halifax). She leads the division in carrying out and publishing the quarterly Business Outlook Survey, conducting regional and sectoral analysis and economic research, and supporting the Bank’s communication strategy.

Ms. Suchanek first joined the Bank of Canada as an economist in the International Economic Analysis Department in 2007, before moving to the European Central Bank in 2010. She returned to the Bank of Canada in 2011, later joining the Regional Analysis Division at the Quebec Regional Office, where she was appointed principal economist in 2015. In 2017, she was appointed policy advisor, a position she held until being named director. Her primary research interests include unconventional monetary policies and international economics.

Contact

Lena Suchanek

Director
Canadian Economic Analysis
Regional Analysis

Bank of Canada
234 Wellington Street
Ottawa, ON, K1A 0G9

Latest

Digitalization and Inflation: A Review of the Literature

Staff Analytical Note 2017-20 Karyne B. Charbonneau, Alexa Evans, Subrata Sarker, Lena Suchanek
In the past few years, many have postulated that the possible disinflationary effects of digitalization could explain the subdued inflation in advanced economies. In this note, we review the evidence found in the literature. We look at three main channels.
Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Inflation and prices, Market structure and pricing, Productivity JEL Code(s): D, D2, D22, E, E3, E31, L, L8, L81, O, O3, O33

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 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

Understanding Monetary Policy and its Effects: Evidence from Canadian Firms Using the Business Outlook Survey

Staff Working Paper 2017-24 Matthieu Verstraete, Lena Suchanek
This paper shows (i) that business sentiment, as captured by survey data, matters for monetary policy decisions in Canada, and (ii) how business perspectives are affected by monetary policy shocks. Measures of business sentiment (soft data) are shown to have systematic explanatory power for monetary policy decisions over and above typical Taylor rule variables.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Firm dynamics, Interest rates, Transmission of monetary policy JEL Code(s): D, D2, D22, E, E4, E44, E5, E52

May 11, 2017 Unconventional Monetary Policy: The Perspective of a Small Open Economy

Bank of Canada Review - Spring 2017 Jean-Sébastien Fontaine, Lena Suchanek, Jing Yang
How do unconventional monetary policies like quantitative easing and negative interest rates affect domestic financial conditions and the broader economy in small open econo-mies, such as Canada? These policies are effective in depreciating the exchange rate in small open economies, while lower interest rates are also passed through to the economy, albeit only partially. When conventional monetary policy is close to its limits, fiscal policy may be a more important complement to monetary policy in a small economy, particularly if global demand for safe assets compresses long-term interest rates.
Content Type(s): Publications, Bank of Canada Review Article Topic(s): Interest rates, Monetary policy framework, Monetary policy implementation, Transmission of monetary policy JEL Code(s): E, E5, E52, E58, E6, E61, E65

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 Topic(s): Firm dynamics, Service Sector JEL Code(s): D, D2, D22, L, L8, L86, O, O3, O33

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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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