Canada develops own version of the GPM
In a paper published this month, the Bank of Canada in collaboration with the IMF, unveils its own version of the Global Projection Model (GPM).
Until recently the central bank has predominantly focused its efforts on the US economy when modelling its external environment. However, the global financial crisis has made clear that economic shocks are increasingly globally synchronised, motivating a global consideration of the economic outlook.
To complement its existing set of tools to analyse and
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