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In this chapter, Don Drummond makes the case that with large deficits there was little room for the Bank of Canada to reduce interest rates to stimulate the economy and generate revenues. It was imperative that the deficit be eliminated. Tax rates were already high so the government had no...
Persistent link: https://www.econbiz.de/10005157589
that he developed throughout the decade. While not denying that the US economic slowdown in the early 1990s reduced growth …
Persistent link: https://www.econbiz.de/10005157590
monetary policy in the early 1990s hurt growth in the short-term, but they argue that such action was necessary to ratchet down …
Persistent link: https://www.econbiz.de/10005481816
economic development and growth is still in its infancy. In order to facilitate further necessary research on this topic, this …
Persistent link: https://www.econbiz.de/10008554074
This paper analyzes the long-run relationship between output collapses—defined defined as GDP falling substantially below trend—and total factor productivity (TFP), using a panel of 71 developed and developing countries during the period 1960-2003 to identify episodes of output collapse and...
Persistent link: https://www.econbiz.de/10005130346
. One approach sees economic growth leading to environmental degradation by imposing stresses on limited natural resources …. Economic growth, once a certain level is achieved, leads to a cleaner environment as the higher income shifts societal …. In addition, it is argued that economic growth is increasingly service-based, decoupling pollution from economic activity …
Persistent link: https://www.econbiz.de/10005518910
in which program spending was frozen in nominal terms, but not cut, would have produced more growth and employment and …
Persistent link: https://www.econbiz.de/10005518912
. Previous literature and empirical work provides a strong consensus that growth reduces poverty, and several recent studies have … also found that the higher is income inequality within a country the more limited is the impact of growth on reducing … poverty. But in dynamic economies most economic growth comes from productivity growth, and few studies have tested the …
Persistent link: https://www.econbiz.de/10005481839
Skills, innovation and human capital as they feature prominently on the policy agenda of industrialized countries concerned with productivity and competitiveness issues. Not surprisingly, formal education is the preferred and most conventional policy instrument of governments in pursuing these...
Persistent link: https://www.econbiz.de/10005481812
In this chapter, Tony Fisher and Doug Hostland provide an historical perspective on trends in labour productivity, labour income and living standards in Canada. They find that, once the appropriate adjustments are made, the labour share and the non-labour share (composed of profits, interest and...
Persistent link: https://www.econbiz.de/10005481819