I am a Principal Researcher in the Monetary Policy and Fiscal Agent Studies Division in the Financial Markets Department at The Bank of Canada.

My research focus is to blend macroeconometrics and microeconometrics to make contributions to the monetary policy identification, forward guidance, expectation formation, and forecasting literatures. My latest publication is "Forward Guidance and Expectation Formation: A Narrative Approach" (Journal of Applied Econometrics). My Bank of Canada working papers and discussion papers can be found here: https://www.bankofcanada.ca/profile/christopher-s-sutherland/ and BIS working papers here: https://www.bis.org/author/christopher_s_sutherland.htm 

I am also working towards my D.Phil (PhD) at The Department of Economics and Exeter College, University of Oxford.

I am working on a new paper called Dynamic Monetary Policy Expectation Formation. I ask, how can we identify the dynamic causal effect of monetary policy on macroeconomic expectations? The predominant approach is to use high-frequency monetary policy surprises to construct external instruments. I show that the full effect of monetary policy on interest rate expectations is almost entirely attributable to the anticipated and lagged components, not this surprise component. I propose a simple, panel local projections approach to identify the structural impulse response functions of monetary policy on forecaster expectations. I then use this method to address numerous open questions in the empirical monetary economics literature.

Je suis un chercheur principal dans le division des études sur la politique monétaire et les agents fiscaux au Banque du Canada.

Mes principaux domaines de recherche sont les attentes, la communication de la banque centrale, les prévisions, et l’économétrie appliquée. Mon dernier article est « Forward Guidance and Expectation Formation : A Narrative Approach » (Journal of Applied Econometrics). Mes working papers et documents de discussion de la Banque du Canada sont ici: https://www.bankofcanada.ca/profile/christopher-s-sutherland/ et documents de BIS ici: https://www.bis.org/author/christopher_s_sutherland.htm

Je suis également au Département d'économie et à l'Exeter College de l'Université d'Oxford.