E24 - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital
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Some Evidence on Hysteresis and the Costs of Disinflation in Canada
This paper addresses the following questions: How large are the output costs of disinflation in Canada? Are these costs temporary, as predicted by natural-rate models, or are they permanent, as predicted by hysteresis models? Are the costs of disinflation higher at lower rates of inflation? Are they higher when the economy is at or below […] -
Regional Disparities in Wage and Unemployment Rates in Canada: A Review of Some Issues
In this report the author considers three issues relating to regional disparities in Canada. First, the size of regional disparities in unemployment and wage rates is examined together with the patterns in these disparities over time. Next, various theories related to the causes of regional disparities are reviewed, focussing on their predictions regarding regional disparities […] -
The NAIRU in Canada: Concepts, Determinants and Estimates
An important question that faces macroeconomic policy makers is whether the economy can absorb increases in aggregate demand without generating inflationary pressures. Many economists have found it useful to approach this issue by asking whether the economy is operating at a rate of unemployment consistent with inflation neither accelerating nor decelerating, all else being equal. […]
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