Bank of Canada deputy takes on 'elusive' potential output
While conceptually appealing, accurately measuring potential output is a "formidable task", Bank of Canada deputy governor Agathe Côté said this week in a speech in Winnipeg.
"To do so, we must take a view not only on how many hours people are willing to work at a given wage, but also on how productive these people will be when their labour is combined with other inputs, such as machinery and equipment or on-the-job training," Côté noted.
She added that the Bank of Canada's analysis of potential
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