The C.D. Howe Institute today appointed Christopher Ragan, Associate Professor in the Department of Economics at McGill University, as a new member of the its Monetary Policy Council.

“Chris Ragan is one of Canada’s pre-eminent analysts of monetary policy,” said William Robson, senior vice president and director of research, and the MPC’s non-voting chair. “His academic and public service records testify to his abilities and his commitment to Canadian public policy. We enthusiastically welcome him back to the Monetary Policy Council.”

A member of the MPC at its inception in 2003, Professor Ragan resigned in July 2004 to take a position as Special Advisor to the Governor of the Bank of Canada for the 2004/2005 academic year.

He has previously consulted with the Federal Department of Finance and was also a visiting economist at the Bank of Canada. He regularly teaches applied micro-economics at McKinsey & Company.

Ragan has a B.A. from the University of Victoria, an M.A. from Queen’s University, and a Ph.D. from M.I.T. Since his appointment at McGill in 1989, he has taught a variety of courses, including introductory micro- and macro-economics. His research interests include the objectives and conduct of monetary policy.

Ragan replaces John Chant, Emeritus Professor in the Department of Economics at Simon Fraser Universtiy and Research Associate at the Phillips, Hager & North Financial Research Centre at the University of British Columbia. A founding member of the MPC, Chant is stepping down after a two-year term.

The Institutes’ MPC comprises 12 of Canada’s most distinguished financial-market and monetary economists. By convening to discuss the Bank of Canada’s target for the overnight interest rate before each of the Bank’s interest-rate announcements, the MPC provides an independent assessment of the Bank’s stance as it seeks to achieve its 2% inflation target.