E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
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Emerging Asia's Impact on Food and Oil Prices: A Model-Based Analysis
The authors explore the usefulness of macroeconomic models in analyzing global economic developments by examining movements in commodity prices between July 2007 and July 2008. They use the Bank of Canada's version of the Global Economy Model and investigate the longer-term outlook for commodity prices by constructing two different, globally consistent, scenarios for emerging Asia. -
Uninsurable Investment Risks and Capital Income Taxation
This paper studies the capital accumulation and welfare implications of reducing capital income taxation in a general equilibrium economy with uninsurable investment risks.