Building on the growing evidence on the importance of large data sets for empirical macroeconomic modeling, we use a factor-augmented VAR (FAVAR) model with more than 260 series for 20 OECD countries to analyze how global developments affect the Canadian economy. We focus on several sources of...

The Russia Competitiveness Report 2011 is being released at a time of great promise for the Russian Federation. Almost two decades after transitioning from a planned to a market economy, and following a decade of buoyant growth, the country was hit hard by the financial and economic crisis of...