Business sector productivity growth is central to Canadians' future prosperity. This article reviews the performance of the Canadian business sector in improving labour and multifactor productivity and examines possible factors underlying recent developments. The article links weak multifactor...

In this paper the authors examine the consequences of using cost minimization as the goal of public debt management in a small open economy (SOE). Authorities are assumed to minimize interest costs subject to constraints on their ability to refinance at different maturities, and the information...

Many explanations have been advanced for the apparent breakdown of monetary exchange-rate model s in the late 1970s. This paper shows that the initial empirical supp ort enjoyed by the models was an illusion created by the failure to a ccount for exchange-rate nonstationarity and the arbitrary...