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156 Results

An Econometric Examination of the Trend Unemployment Rate in Canada

Staff 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.
Content Type(s): Staff research, Staff working papers Topic(s): Labour markets JEL Code(s): E, E2, E24

Empirical Evidence on the Cost of Adjustment and Dynamic Labour Demand

Staff Working Paper 1995-3 Robert Amano
In this paper the author examines whether there is significant evidence of the effect of adjustment costs on Canadian labour demand. This is an important question, as sluggish adjustment of labour demand resulting from significant adjustment costs may be one factor that could help explain some of the unemployment persistence found in Canadian data. The […]
Content Type(s): Staff research, Staff working papers Topic(s): Labour markets

Some Evidence on Hysteresis and the Costs of Disinflation in Canada

Technical Report No. 55 Barry Cozier, Gordon Wilkinson
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 […]
Content Type(s): Staff research, Technical reports Topic(s): Labour markets JEL Code(s): E, E2, E24, E3, E31

Regional Disparities in Wage and Unemployment Rates in Canada: A Review of Some Issues

Technical Report No. 51 Kathleen Day
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

Technical Report No. 50 David Rose
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. […]
Content Type(s): Staff research, Technical reports Topic(s): Labour markets JEL Code(s): E, E2, E24
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