Potential Output in Canada: 2018 Reassessment

Andrew Agopsowicz, Dany Brouillette, Bassirou Gueye, Julien McDonald-Guimond, Jeffrey Mollins & Youngmin Park
This note summarizes the reassessment of potential output, conducted by the Bank of Canada for the April 2018 Monetary Policy Report. Overall, the profile for potential output growth is expected to remain flat at 1.8 per cent between 2018 and 2020 and 1.9 per cent in 2021. While population aging will continue to be a drag on potential output growth, this drag is expected to be offset by a pickup in trend labour productivity. This...
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