Dr. Pierre Fortin discussed the benefits of raising the inflation target to 4%. The room for the Bank of Canada to stimulate economic activity and employment when needed has narrowed dangerously in the past 25 years. With the recent renewal of the inflation-targeting agreement, Dr. Pierre Fortin will present his research arguing that moving to a 4% inflation target would generate about one half million more permanent jobs for Canadians and, over time, add some $50 billion per year to domestic income, while recovering the room to manoeuvre that monetary policy has lost in the past 25 years. Download Link to Dr. Fortin’s Presentation Slides
Emeritus Professor of Economics at the University of Quebec at Montreal
Pierre Fortin is Emeritus Professor of Economics at the University of Quebec at Montreal (ESG UQAM), a Fellow of the Royal Society of Canada, a longtime researcher, director and advisor at the Canadian Institute of Advanced Research, a member of the National Statistics Council, and apast president of the Canadian Economics Association. He has published widely in Canada and abroad, mainly in the areas of economic growth and fluctuations, labour markets, and monetary, fiscal and social policies. He has been a member of the Economic Advisory Panel to the Minister of Finance of Canada and of the Economic Council of Canada, and chief economic adviser to a Quebec Premier. He has chaired government task forces on business investment, income security and agriculture, and served as director of Camoplast Inc., a manufacturing company of Sherbrooke (Quebec). He has been awarded the Gold Medal of the Governor General of Canada, the Prize of the French Canadian Association for the Advancement of Science, and the Douglas Purvis Memorial Prize. In 1995, he was recognized as “the most distinguished Quebec economist” by membership vote of the Quebec Association of Professional Economists (ASDEQ). He is a three-time winner of the Gold Medal of the National Magazine Awards Foundation for the best regular column in a Canadian magazine (L’actualité). In 2014, he was made a Knight of the National Order of Quebec. He holds B.A.’s in classical humanities and mathematics from Laval University, an M.Sc. in mathematics from the University of Montreal, and a Ph.D. in economics from the University of California at Berkeley. He is a father of five children.
Date and Time:
Wedesday, November 23, 2016
12:00 PM – 1:30 PM
Business Council of British Columbia
Suite 810, 1050 West Pender Street, Vancouver, BC