But at this point, no single framework dominates on all margins. After a break, we welcome a discussion of the horse race. Joseph Gagnon from the Peterson Institute for International Economics, Pierre Fortin from the Université du Québec à Montréal and Stephanie Schmitt-Grohé from Columbia University will lead.
At lunch, we’ll watch a video in which Deputy Governor Schembri explores the recent Bank of Canada staff discussion paper, “Strengthening Inflation Targeting: Review and Renewal Processes in Canada and Other Advanced Jurisdictions.” Then we’ll break into small groups to discuss the results of the horse race. In the afternoon, Session 2 will examine policy coordination in a time of crisis.