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  • Trade, Growth and ... Brazil

    posted to Worthwhile Canadian Initiative on Tue 8th Oct 13

    In a recent address on global growth and Canadian export prospects to the Economic Club of Canada, the Bank of Canadas Tiff Macklem noted that Canadas share of world trade has been in decline for over a decade and that the loss of global trade share has been

  • Policy rules and borrowing degrees of freedom.

    posted to Worthwhile Canadian Initiative on Tue 8th Oct 13

    In the olden days, as Peter Dorman notes, macro models would contain variables like M (or r), G, and T (or t) for monetary and fiscal policy. Nowadays they usually contain a monetary policy rule, and sometimes a fiscal policy rule too. Like a Taylor Rule, for

  • Private debt, public debt, and continuity

    posted to Worthwhile Canadian Initiative on Mon 7th Oct 13

    Let me try it this way.Here's Brad DeLong:"So, by continuity, somewhere between policies of austerity that that produce deflationary depression due to an excess demand for safe assets and policies of fiscal license that produce inflationary boom caused

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