Real gross domestic product (GDP) fails to account for the trading gains and losses that result from changes in the terms of trade and in the real exchange rate (the price of tradables relative to the price of nontradables). Canada has enjoyed vast improvements in its terms of trade over recent...

Detrending time series and isolating cyclical fluctuations is crucial for business cycle analysis and definition of economic policy. Band-pass filters provide a set of statistical methods to extract the cycle, defined according to a specified range of periodicities. Christiano and Fitzgerald...

Labour productivity in the U.S. non-farm business sector grew two and a half per cent per year during the 1995-2005 period, nearly double its growth rate over the previous two decades. Services sector labour productivity (LP) and multifactor productivity (MFP) grew more rapidly and substantially...

The objective of this paper is to develop a more comprehensive understanding, from a policy perspective, of key drivers of labour productivity in selected OECD countries and their impact on enhanced productivity performance. The paper first presents some general lessons from the productivity...

French Abstract: Le coronavirus (COVID-19) a provoqué une baisse de l'activité économique mondiale, exacerbée par des mesures de distanciation sociale qui ont perturbé des secteurs couvrant le tourisme, l'industrie manufacturière et l'énergie. L'augmentation de l'inflation et...