by reducing real wages below levels allowed by technological growth, changes in the unemployment rate, and institutional …

unemployment or faster growth. Weak output growth after such a cost shock is somewhat puzzling and has led some to question the … structurally slower real wage growth, that is, "wage moderation," does raise output growth and lower unemployment rates. However, I …

-term unemployment rate (which would raise equilibrium unemployment rates). However, over the medium term, we expect Canada's potential …