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...

This study has two aspects. First, the author examines the theoretical properties of the constant elasticity of substitution (CES) production function and the implications of this formulation for the properties of a structural macroeconomic model. He then seeks to determine whether Canadian...

A large majority of summary indicators derived from the individual responses to qualitative Business Tendency Survey questions (which are mostly three-modality questions) result from standard aggregation and quantification methods. This is typically the case for the indicators called balances of...