Pierre Duguay

Former Deputy Governor (2000 - 2010)



Pierre Duguay served as a Deputy Governor of the Bank of Canada from January 2000 until his retirement from the Bank in July 2010. As a member of the Bank’s Governing Council, he shared responsibility for decisions with respect to monetary policy and financial system stability, and for setting the strategic direction of the Bank.

Mr. Duguay joined the Bank in 1973 as an Economist in the Research Department. In 1978, he moved to the Department of Monetary and Financial Analysis as Senior Economist. He was appointed Deputy Chief of the Research Department in 1984, Chief of the Department of Monetary and Financial Analysis in 1987, Chief of the Research Department in 1991 and Adviser to the Governor in 1992.

Born in Verdun, Quebec, Mr. Duguay received a bachelor of economics degree from the Université du Québec à Montréal in 1971 and a master’s degree in economics from the Université de Montréal in 1974.

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Technical Reports

Les effets macro-économiques des déficits budgétaires : résultats d'un modèle de simulation

Technical Report No. 47 Pierre Duguay, Yves Rabeau
An increase in a government deficit can have two effects: short-term stimulation of aggregate demand and employment, and long-term contraction of potential output. In this paper, these effects are illustrated using a dynamic, macroeconomic simulation model. The model is not a forecasting tool; it is intended to bridge the gap between Keynesian and supply-side economics […]
Content Type(s): Staff research, Technical reports Topic(s): Economic models, Fiscal policy JEL Code(s): H, H6, H60

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