Bank of Canada highlights requirements for global recovery
A paper published by the Bank of Canada in April studies the evolution of global current account balances following the recent crisis and finds that if global current account balances are rebalanced, world growth will be far stronger.
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 to generate a simulated baseline scenario that mimics:
the initial, pre-crisis state
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