The economic environment in which Canadian manufacturing firms operate has changed substantially over the last 40 years. Technological changes, new regulations, deregulation, and exogenous economic shocks all have been important aspects of this economic environment. In this article, we show how...

In this paper, the authors develop a measure of the cost of inflation uncertainty where a risk premium can be interpreted as the amount of real consumption that a representative agent is willing to forgo in order to be guaranteed a perfectly anticipated path of inflation. This premium can be...

In this paper, the authors provide some missing elements to the theory of the regulated firm and discuss implications for econometric specification. Particular attention is paid to situations where capital is quasi-fixed under rate-of-return regulation, which may lead to serious specification...

The authors explain why comparing the total factor productivities o f extractive and nonextractive sectors is likely to be misleading. They then propose a correction and implement it for the case of asbestos, where it turns out to make a significant difference.