Archives

Working Papers

  1. An Econometric Examination of the Trend Unemployment Rate in Canada

    Working Paper 1996-7 - Denise Côté, Doug Hostland

    This paper attempts to identify the trend unemployment rate, an empirical concept, using cointegration theory. The authors examine whether there is a cointegrating relationship between the observed unemployment rate and various structural factors, focussing neither on the non-accelerating-inflation rate of unemployment (NAIRU) nor on the natural rate of unemployment, but rather on the trend unemployment rate, which they define in terms of cointegration.

    Topics: Labour markets
Copyright © 1995 - 2013, Bank of Canada. Terms of Use.