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HomePolicy Articles Article Summary

Good Policies for Bad Times

Research Report by Shay Aba

This Backgrounder by Shay Aba follows a seminar convened by the C.D. Howe Institute on February 1, 2002 pertaining to the themes of Canada’s “current and future economic conditions,” as well as “the roles of fiscal and monetary policy.” Those who attended the seminar called for moderate to average rates of growth, in concert with the downturn (at the time) in the global economy, and its anticipated recovery. With demand for stocks, and therefore stock prices, expected to rise, most attendees agreed that monetary policy, rather than fiscal policy, should be used to smooth out the business cycle. They also agreed that tax competition between the provinces should produce tax cuts, in a race to attract financial investment. Taken together, participants suggested that being proactive would result in a better business climate, and a more efficient use of public funds overall. In sum, according to Aba most participants felt Ottawa should take no further action to counter the economic downturn, particularly with no signs of a recession in the forecast.

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Policy Publication Details

Author(s): Shay Aba;
Publisher: C.D. Howe Institute [ Visit Website ]
Year Published: 2002; Publisher Type: Research Institute
Publicly Available: Yes Research Focus: National;
Registration Required: No Language: English
Payment Required: No Publication Format: Adobe PDF

Subjects / Categories:

Policy Articles / Fiscal & Budgetary / Tax Policy
Policy Articles / Fiscal & Budgetary / Fiscal Federalism
Policy Articles / Monetary & Capital Management / Monetary Policy
Policy Articles / Fiscal & Budgetary
Policy Articles / Monetary & Capital Management
Policy Articles / Fiscal & Budgetary / Reform / 2002
Policy Articles / Fiscal & Budgetary / Tax Policy / 2002
Policy Articles / Monetary & Capital Management / Monetary Policy / 2002

Keywords / Tags:

Fiscal; Monetary; Policy; Stocks; Markets; Tax; Cuts;