This paper describes a comprehensive measure of aggregate private-sector wealth in Canada that includes both human and nonhuman wealth. Wealth and its components are measured at a quarterly frequency from 1963 to 1994. Human wealth is computed as the expected present value of aggregate labor...

Research aimed at explaining the greater persistence of unemployment in European countries relative to the US has found higher employment adjustment costs in Europe to be a significant contributing factor. This paper explores the potential for costly adjustment of labour to explain at least some...

In this comment on Fortin (1996), the authors argue that the sluggishness in economic activity in Canada in the 1990s is better explained by a combination of factors than by monetary policy alone. They find that: (1) it is difficult to explain the sluggishness on the basis of the historical...

This, the first book in the Global Development Network series, brings together the views of researchers from the developing and developed world and provides models of successful research conducted in developing and transition countries.