Northern star : Canada's path to economic prosperity /
Edited by Tamim Bayoumi, Vladimir Klyuev, and Martin Mühleisen.
- Washington, D.C. : International Monetary Fund, 2007.
- xii, 135 p. : col. ill. ; 28 cm.
- Occasional paper ; 258 .
- Occasional paper (International Monetary Fund) ; no. 258. .
Includes bibliographical references (p. 126-133).
Factoring in Canadian cycles / Energy, the exchange rate, and the economy / Canada and the United States. Regional dimensions of the Canadian economy / Canada-United States productivity gap / Effects of U.S. shocks / Budget forecasting / Pension system / Fiscal prudence and tax reduction opportunities. Jam today or more jam tomorrow? The timing of tax cuts / Comparing efficiency gains from reducing the GST and the personal income tax / Disintermediation and monetary transmission / Inflation targeting and macroeconomic volatility / Competition in the banking system / Large banking groups and financial system soundness / Vladimir Klyuev -- Alejandro Justiniano -- Tamim Bayoumi and Martin Mühleisen -- Vladimir Klyuev and Rodolfo Luzio -- Roberto Cardarelli -- Iryna V. Ivaschenko and Andrew Swiston -- Martin Mühleisen ... [et al.] -- Martin Mühleisen -- Tamim Bayoumi and Dennis Botman -- Dennis Botman -- Joreg E. Roldos -- Tamim Bayoumi and Vladimir Klyuev -- Iryna V. Ivaschenko -- Gianni De Nicolò, Alexander Tieman, and Robert Corker. Introduction /
Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account surpluses: these outcomes in Canada owe much to sound macroeconomic policies, as well as to a favorable external environment. This book focuses on these policies and the economy's salient features, including its close trade integration with the United States, large commodity sector, and substantial decentralization and regional diversity. It outlines what is unique about the Canadian experience and sheds light on policies and philosophies that can be applied in other economies.--Publisher's description.