This is all the more true for systemically relevant countries, which have a special obligation for international cooperation. 3. What are recipes to prevent imbalances and their spillovers? Sound macroeconomic policies at the national level can – of course – help to address external shocks and spillovers.
Over the next few days, the federal, provincial, and territorial finance ministers will meet to discuss these issues, in recognition of their importance to Canadians. Finally, more protracted U.S. and global recoveries could restrain Canadian households, by affecting both the confidence and economic prospects of Canadians.