This article investigates the stability of Okun's law for Canada and the United States using a time varying parameter approach. Time variation is modeled as driftless random walks and is estimated using the median unbiased estimator approach developed by Stock and Watson (1998). Okun's law...

The author evaluates the effect of the Bank of Canada's conditional commitment regarding the target overnight rate on longer-term market interest rates by taking into account the relationship between interest rates, inflation, and unemployment rates. By using vector autoregressive models of...

A key question that has arisen during recent debates is whether government spending multipliers are larger during times when resources are idle. This paper seeks to shed light on this question by analyzing new quarterly historical data covering multiple large wars and depressions in the U.S. and...

We analyze the flexibility of the Canadian labor market across provinces in both an inter- and intra-national context using macroeconomic data on employment, unemployment, participation, and (for Canada) migration and real wages. We find that Canadian labor markets respond in a similar manner to...

Intro -- Contents -- I. INTRODUCTION -- II. DATA AND METHODOLOGY -- III. INTERNATIONAL COMPARISONS -- IV. RESULTS ACROSS CANADIAN PROVINCES -- V. EXTENDING THE CANADIAN MODEL -- VI. CONCLUSIONS -- REFERENCES -- Data Appendix.

Cover -- Contents -- Preface to the 2009 Carleton Library Edition -- Preface to the 1970 Carleton Library Edition -- Preface -- 1 Introduction -- 2 Antecedents of the Depression of the Thirties -- 3 The Downswing from 1929 to 1933 -- 4 The Beginning of Recovery, 1932-3 -- 5 The Recovery from...

A key question that has arisen during recent debates is whether government spending multipliers are larger during times when resources are idle. This paper seeks to shed light on this question by analyzing new quarterly historical data covering multiple large wars and depressions in the U.S. and...

A key question that has arisen during recent debates is whether government spending multipliers are larger during times when resources are idle. This paper seeks to shed light on this question by analyzing new quarterly historical data covering multiple large wars and depressions in the U.S. and...