In the wake of political and economic upheaval, there has been an unprecedented round of consultations leading up to the 2009 federal budget. To contribute to the debate, we asked seven of Atlantic Canada’s leading economists to step forward and offer their ideas.
Each contributor was asked to respond to the following questions:
1. What is the biggest economic challenge facing Atlantic Canada in the current recession?
2. How severe will the downturn be and how long to you anticipate the recession will last?
3. What are your priorities for a federal stimulus package?
Although perspectives vary on the anticipated duration of recession, this group of economists has no hesitation in recommending that government should ramp up its fiscal policy instruments to provide economic stimulus and reduce the negative effects of the recession.
Along with our contribution, these submissions offer unique perspectives on the recession, the merits of government intervention and priorities for action. I want to thank all the contributors for their thoughtful and timely response.
1. Elizabeth Beale, Atlantic Provinces Economic Council
2. Lars Osberg, Dalhousie University
3. Frank Strain, Mount Allison University
4. Fred Morley, Greater Halifax Partnership
5. Wade Locke and Scott Lynch, Memorial University
6. Pierre-Marcel Desjardins, Université de Moncton
7. Michael Foster, Canmac Economics Ltd.
8. James Sentance, University of Prince Edward Island