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Paper: The Global Crisis Read Ch.28 The Global Crisis in Blanchard 5e or Ch.9 The Crisis in Blanchard 6e. Write a re - Assignment Example

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Macroeconomic Performance of Canada in the Recent Crisis Name Institution Macroeconomic Performance of Canada in the Recent Crisis Abstract Different countries performed differently in their economies during the 2006 and 2011 global financial crisis. Some counties were never affected badly while other faced immense macroeconomic crisis…
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Paper: The Global Crisis Read Ch.28 The Global Crisis in Blanchard 5e or Ch.9 The Crisis in Blanchard 6e. Write a re
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Paper: The Global Crisis Read Ch.28 The Global Crisis in Blanchard 5e or Ch.9 The Crisis in Blanchard 6e. Write a re

Download file to see previous pages... 72). Nonetheless, some countries’ economies never suffered the global crisis and the escape was pegged on different macroeconomic policies among other governmental mechanisms that such countries had put in place following previous crises. Canada is among the nations that weathered from the recent global economic crisis. Notably, this essay aims at determining facts that made Canada to evade the economic meltdown facilitated by the recent economic crisis. Introduction Canada never suffered the 2008 – 2009 global economic crises and this was reflected in its domestic spending and its continued economic growth despite the global or international turbulence that affected many economies including other major economies including the United States (Gnos and Rochon, 2011; Pg. 91). It is noted that several factors led to the stabilization of the Canadian economy amid stemming from euro zone settling sovereign debt crisis. For instance, the Canadian federal government had fiscal plans that were made visible to market. These plans were credible and they favored low borrowing costs. Moreover, during this period Canada had a sound and effective banking system that supported this economy during this time. It should be noted that the crisis never led to bailout of any taxpayer during the 2008 – 2009 global economic crisis. It is also recorded that emerging economies had shifted their purchasing power to commodity exporter including Canada (Gnos and Rochon, 2011; Pg. 51). This was conducted through stronger currencies and higher export prices thereby strengthening the Canada’s economy. Notably, the uncertainty due to global risk and economic situation usually drag financial market into a more confidence business thereby improving the inverters confidence (Mishkin, 2007). These situations led to prolonged low interest rates that were likely to push mortgage debts and prices of houses higher from what was considered already elevated levels for, most likely, the large cities. Canada always has policy credibility and strong institutions; however, for many years, it has pegged its economic growth mainly on capital inputs and increasing labor. Nonetheless, growth in its multi factor productivity (MFP) has declined and become weak within the past decade. Therefore, the Canadian macroeconomic development embarked on business and research development especially with the aim of developing the patently poor economic sectors. Some of the areas that help in stabilizing the macroeconomic sectors in Canada thereby helping it through the global crisis were its boost of innovative sectors that helped it to raise it MFP growth that was needed to help in sustaining then rising living standards particularly with aging population (Mishkin, 2007). Macroeconomic Development It is worth noting that the Canadian economy recovered relatively quickly from the 2008 – 2009 global economic crises. Notably, its recovery was quicker and this was pegged on its fiscal stimulus and timely monetary as well as high commodity price and sound financial system. Additionally, Canada has been enjoying substance low unemployment rates especially since the peak of recession that is now nearing a long term average unemployment rates. Other ...Download file to see next pagesRead More
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