Strong US-Canadian financial linkages: Bank of Canada paper
A Bank of Canada paper published on Monday shows shocks to real economic activity and financial conditions in the United States can have important implications for Canada.
Kimberly Beaton and Brigitte Desroches, the paper's authors, use a global vector auto-regression model to investigate financial spillovers across countries to measure the effects shocks to financial conditions in the US have on financial conditions and economic activity in Canada.
The results of their analysis shows that
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