The opportunity to capture more of the value added in commodity production from energy to agriculture remains a tremendous opportunity for all of Canada. Retool by investing in plant, equipment and ICT (information and communications technology) and developing new processes.
They have both shown that cross-border risk-sharing has improved during the past decade and that EMU has given a major stimulus to this. Our own calculations on the German home bias point in the same direction. These approaches, therefore, allow us to conclude that EMU has welfareenhancing effects.