The paper examines the arguments of the two books in order to explore the reasons for their diametrically opposed conclusions. The paper argues that what determines their relative oppositions at the finishing gate is their relative position at the starting posts - and what is different between...

Given persistenly high unemployment rates following the 1991-92 recession, the question of hysteresis in the Canadian economy has, once again, come to the forefront of academic and polciy debate. The paper addresses two questions. First does the inclusion of the 1991/1992 recession, and the...