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When Nightmares Become Real: Modelling Linkages between the Financial Sector and the Real Economy in the Aftermath of the Financial Crisis

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August 16, 2011

Our understanding of the links between the financial sector and the rest of the economy needs to improve, concludes a report from the C.D. Howe Institute. In When Nightmares Become Real: Modelling Linkages between the Financial Sector and the Real Economy in the Aftermath of the Financial Crisis, authors Philippe Bergevin, Pierre Duguay and Paul Jenkins say that the complexity of these linkages have been neglected in the models typically used to guide monetary policy – the question is how to remedy deficiencies in policymakers’ economic models of the world, so that they can be used with confidence in guiding policy.

 

Author(s):

Paul Jenkins, Former Senior Deputy Governor and Chief Operating Officer, Bank of Canada; Adjunct Professor, Carleton University
Paul Jenkins
Philippe Bergevin
Pierre Duguay, Former Deputy Governor, Bank of Canada
Pierre Duguay

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© 2014 C.D. Howe Institute. All Rights Reserved.

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