Bank of Canada Announces Recipients of Fellowship Award for 2008



    OTTAWA, March 18 /CNW Telbec/ - The Bank of Canada today announced that
Professor Michael Devereux of the University of British Columbia and Professor
Shouyong Shi of the University of Toronto are the recipients of the Bank's
Research Fellowship for 2008. Professors Devereux and Shi also received this
award in 2003, the first year of the program.
    Professor Devereux, one of the foremost experts in the area of
open-economy modelling, is known for his work in international economics. His
current research focuses on two areas: exchange rates and pricing, and global
financial integration.
    Professor Shi is an internationally renowned economist with expertise in
macroeconomics, monetary theory, and labour theory. His current work focuses
on building a micro-foundation of monetary theory and policy.
    "Professors Devereux and Shi are two outstanding economists whose work
continues to provide valuable insights and make profound contributions to
economic research," said Mark Carney, Governor of the Bank of Canada. "The
Bank is proud to reaffirm its support for their work by making them Fellowship
recipients once again."
    The Bank's Fellowship Program is designed to encourage leading-edge
research and to develop expertise in Canada in a number of areas critical to
the Bank's mandate: macroeconomics, monetary economics, international finance,
as well as the economics of financial markets and institutions, including
their financial stability.
    Each Fellowship can last for a period of up to five years, subject to an
annual confirmation by the Bank's Governing Council. Fellowship recipients may
apply for a second five-year term.
    Including this year's renewal of the Fellowships awarded to Professors
Devereux and Shi in 2003, the Bank has a total of six Fellowship recipients.
The other four recipients of the award are: Professor René Garcia of the
Université de Montréal (2004), Professor Paul Beaudry of the University of
British Columbia (2005), Professor Gregor Smith of Queen's University (2006),
and Professor Jean-Marie Dufour of the Université de Montréal (2007).

    The application deadline for the 2009 Fellowship is 15 November 2008. For
more information on the Fellowship Program, visit
www.bankofcanada.ca/fellowship or call 613 782-8888.




For further information:

For further information: Jeremy Harrison, (613) 782-8782


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