On June 6, 2013, Stephen Poloz, the newly appointed governor of the Bank of Canada, addressed the
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On June 6, 2013, Stephen Poloz, the newly appointed governor of the Bank of Canada, addressed the House of Commons Standing Committee on Finance. In this speech he said, “In the immediate aftermath of the crisis (the Great Recession of 2008), stimulative monetary and fiscal policies proved highly effective in supporting robust growth in domestic demand, particularly household expenditures, which grew to record levels. Yet, as effective as it has been, with domestic demand now slowing, the limits of this growth model are clear.” Which two of the three principles of economy-wide interaction are at work in this statement?
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Macroeconomics
ISBN: 978-1319120054
3rd Canadian edition
Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson
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