The presence of a structural break in the volatility of GDP growth has important implications for economic modelling and econometric techniques. Recently, McConnell and Quiros (1997, 2000) have identified a structural decline in the U.S. GDP growth volatility in 1984, and they attributed the...

The paper examines the evolution of the inequality of family income in Canada during the 1986-1996 period. Our main objective is to understand why overall market income inequality rose, while that of disposable income did not. To analyze this question, we use data from the Survey of Consumer...

This paper presents NAOMI/US (North American Open economy Macro-econometric Integrated model/US), the U.S. counterpart to NAOMI/Canada, developed with the objective of contributing to EAFD’s analytical and forecasting tools. It is a tractable system built around three main equations: IS curve,...

Many commentators have pointed to the productivity gap between Canada and the U.S. as evidence of a Canada–U.S. investment gap. In this paper we examine whether this hypothesis is plausible using a variety of different models of growth, and a variety of different data sources. We find, as...

This paper presents a labour income based measure of Canada's human capital stock from 1971 to 1996 based on the completion of education levels and the number of years of working experience. Unlike measures of human capital based on average years of schooling, this measure does not assume that...

In this paper, we use the structural vector autoregression (VAR) methodology to study the dynamic behaviour of different regional economic variables to a change in monetary conditions in Canada. The variables are: the coincident economic indexes from the Department of Finance Canada, real GDP...

Using modern econometric techniques, Stock and Watson (1989) developed a new system of composite indexes of coincident and leading economic indicators, as well as a recession index for the United States. We apply this approach to build coincident and leading economic indexes for the Canadian...

Technological changes along with the globalization of markets are transforming industrial countries into knowledge-driven economies. This shift away from resource-based toward knowledge-based economies has made human capital (and its main component, education) one of the leading public policy...