The recent financial crisis highlighted the importance of better understanding the interaction between macroeconomic and financial conditions. In this paper, we provide a financial social accounting matrix for the Canadian economy and use it to assess the strength of real-financial linkages by...

Using data on 12 Canadian industries for 1976--2003, this study employs a dynamic panel error correction model to establish the relative importance of potential determinants of Multifactor Productivity (MFP). The model restricts the long run coefficients of these factors to be the same across...

This paper provides some of the first empirical evidence on labour market adjustments to exchange rate movements in Canadian manufacturing industries. Controlling for endogeneity using generalized method of moments estimation, it is found that during the 1981–1997 period, exchange...

Using industry-level data for Canadian manufacturing industries from 1981 to 1997, we find empirical evidence of a negative relationship between the capital-labour ratio and the user cost of capital relative to the price of labour. A 10% increase in the user cost of the Machinery and Equipment...