As the title of the conference suggests, we have seen many boom-and-bust cycles in the commodity sector. This raises one obvious and central question: How can we avoid them in the future?
Good morning, Mr. Chairman and committee members. I am pleased to appear before this committee today to discuss the Bank of Canada’s views on the economy and our monetary policy stance.
Good afternoon, Mr. Chairman and committee members. I am pleased to appear before this committee today to discuss the Bank of Canada’s views on the economy and our monetary policy stance.
The authors use the Bank of Canada's version of the Global Economy Model, a multi-country, multi-sector dynamic stochastic general-equilibrium model with an active banking system (the BoC-GEM-FIN), to study the evolution of global current account balances following the recent global financial crisis.