Labour force participation rates vary greatly by age, with persons 55 and over having much lower participation rates than younger persons. Consequently, changes in the demographic composition of the population can exert a long-run effect on aggregate participation rates. In the third article of...

The Canadian Economic and Fiscal Model (CEFM) is used by the Department of Finance to forecast key economic and fiscal indicators as well as to simulate the economic and fiscal effects of policy or economic changes. This paper documents the dynamic forecasting and simulation properties of the...

The first version of the Canadian Economic and Fiscal Model (CEFM) was completed in 1986. Since then, CEFM has been used by the Department of Finance for macroeconomic forecasting and policy analysis. The model has gone through many rounds of revision since its original version. This report...

The Canadian Economic and Fiscal Model (CEFM) is used by the Department of Finance to forecast key economic and fiscal indicators and to simulate the economic and fiscal impacts of policy or economic changes. The theoretical structure of the 1996 version of the model, CEFM96, as well as its...