This study reports on how much productivity fluctuations are industry specific versus country specific. For the manufacturing industries in Canada and the United States, the correlation between cross-border pairings of the same industry are found to be more often highly correlated than...

Are stock market crashes and rallies related to deviations from the apparent fundamental share price? Using a switching-regression framework, the authors test whether apparent deviations help to predict the regime from which the next period's stock market return is drawn and the magnitude of...

We examine the reliability of alternative output detrending methods, with special attention to the accuracy of real-time estimates of the output gap. We show that ex post revisions of the estimated gap are of the same order of magnitude as the estimated gap itself and that these revisions are...