Mike Moffatt | My fellow economists: Bay Street might be right this time

Bay Street economists are calling for fiscal stimulus from the federal government, but academic economists could not disagree more.

“At the risk of being ex-communicated from my tribe, I believe Bay Street might be right,” said Assistant Professor Mike Moffatt in his op-ed for Canadian Business.  “At the very least, they have a point that should not be so quickly dismissed.”

Moffatt made the case against Canada’s current economic models.

“Canadian academic economists need to entertain the possibility that our models do not adequately address the potential for harm caused by very low nominal interest rates,” said Moffatt.