Amaral, Pedro; MacGee, James C. - In: Review of Economic Dynamics 5 (2002) 1, pp. 45-72
Canada suffered a major depression from 1929 to 1939. In terms of output, it was similar to the Great Depression in the United States. However, total factor productivity (TFP) in Canada did not recover relative to trend, the in the United States TFP had revered by 1937. We find that the...