There has always been a large gap in productivity between Canada and the United States. Reducing that gap was actually one of the goals that prompted us to sign NAFTA. But the gap has not shrunk. On the contrary, it has grown.
What do you see as the reasons why we have not been able to find a solution to the productivity issue? You say that, at a microeconomic level, there seem to be signs of progress. But that is not visible on a macroeconomic level.
According to the Bank of Canada, and in your opinion as its new governor, how can we get the tools we need to increase productivity?