A puzzling feature of the recent behaviour of the Canadian unemployment rate is its persistence in the presence of sustained expansion in real national income. Neither deficient aggregate demand nor a once-for-all supply-side increase in the natural rate provide a convincing explanation for...

In this paper, we estimate a monthly series for Gross Domestic Product at market prices for Canada and a price deflator for the period 1962 to 1985. These estimates are consistent with the quarterly estimates which form the basis of the new national income measures of Statistics Canada. We...