00000nam 2200000za 4500 9.863277 CaOODSP 20250821075111 cr ||||||||||| 181016s2018 oncd ob f000 0 eng d CaOODSP eng eng fre n-cn--- FB3-7/2018-28E-PDF Dorich, José. Weakness in non-commodity exports [electronic resource] : demand versus supply factors / by José Dorich, Vadym Lepetyuk and Jonathan Swarbrick. Ottawa : Bank of Canada, c2018. ii, 9 p. : col. charts. Staff analytical note = Note analytique du personnel, 2369-9639 ; 2018-28 Cover title. Includes bibliographical references. "We use the Terms-of-Trade Economic Model (ToTEM) to conduct demand0 and supply-driven simulations, both of which deliver weakness in Canadian non-commodity exports relative to foreign activity in line with recent data. We then compare the predictions of the simulations with observed outcomes to shed light on the source of weakness in non-commodity exports. Our results suggest that demand factors, such as competitiveness challenges, likely play a dominant role in explaining the recent weakness in non-commodity exports. The simulations also reveal that a monetary policy response is required, independent of the source of the weakness in non-commodity exports."--Abstract, p. ii. Includes abstract in French. Monetary policy Recent economic and financial developments Lepetyuk, Vadym. Swarbrick, Jonathan M. Bank of Canada. Staff analytical note (Bank of Canada) 2369-9639 ; 2018-248 (CaOODSP)9.807323 PDF 420 KB https://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-7-2018-28-eng.pdf