1.0Policy Optionshttps://policyoptions.irpp.org/fr/rich600338<blockquote class="wp-embedded-content" data-secret="CknUXA2iLP"><a href="https://policyoptions.irpp.org/fr/authors/luc-vallee/">Luc Vallée</a></blockquote><iframe sandbox="allow-scripts" security="restricted" src="https://policyoptions.irpp.org/fr/authors/luc-vallee/embed/#?secret=CknUXA2iLP" width="600" height="338" title="“Luc Vallée” — Policy Options" data-secret="CknUXA2iLP" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe><script> /*! This file is auto-generated */ !function(d,l){"use strict";l.querySelector&&d.addEventListener&&"undefined"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!/[^a-zA-Z0-9]/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),o=l.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),c=new RegExp("^https?:$","i"),i=0;i<o.length;i++)o[i].style.display="none";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute("style"),"height"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):"link"===t.message&&(r=new URL(s.getAttribute("src")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener("message",d.wp.receiveEmbedMessage,!1),l.addEventListener("DOMContentLoaded",function(){for(var e,t,s=l.querySelectorAll("iframe.wp-embedded-content"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute("data-secret"))||(t=Math.random().toString(36).substring(2,12),e.src+="#?secret="+t,e.setAttribute("data-secret",t)),e.contentWindow.postMessage({message:"ready",secret:t},"*")},!1)))}(window,document); </script> https://policyoptions.irpp.org/wp-content/uploads/2025/03/Luc-Vallee.jpg200200Luc Vallée is chief strategist at Laurentian Bank Securities. He was chief economist and director of the Research and Analysis Group at Canada Economic Development. Previously he was chief economist and vice president at the Caisse de dépôt et placement du Québec. He holds a PhD in economics from the Massachusetts Institute of Technology.