Fares Bounajm is a Principal Economist in the Bank of Canada’s Canadian Economic Analysis Division, where he contributes to the production and communication of the Bank’s economic outlook. Prior to joining the Bank of Canada, he worked as an economist at The Conference Board of Canada. He is a CFA Charterholder and holds an MA in economics from McGill University.
We show how Canadian mortgage debt dynamics can be modelled in a semi-structural macroeconomic model, such as the Bank of Canada’s LENS. The model we propose accounts for Canada’s unique mortgage debt structure.
This note presents the updated estimates of potential output growth for the global economy through 2021. Global potential output is expected to grow by 3.3 per cent per year over the projection horizon.
