O - Economic Development, Technological Change, and Growth

• Innovation and Growth with Financial, and Other, Frictions

  Staff Working Paper 2011-25 Jonathan Chiu, Césaire Meh, Randall Wright

  The generation and implementation of ideas, or knowledge, is crucial for economic performance. We study this process in a model of endogenous growth with frictions.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Potential output, Productivity JEL Code(s): E, E4, G, G2, O, O3, O4

• Relative Price Movements and Labour Productivity in Canada: A VAR Analysis

  Staff Discussion Paper 2010-5 Michael Dolega, David Dupuis, Lise Pichette

  In recent years, the Canadian economy has been affected by strong movements in relative prices brought about by the surging costs of energy and non-energy commodities, with significant implications for the terms of trade, the exchange rate, and the allocation of resources across Canadian sectors and regions.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Labour markets, Productivity, Recent economic and financial developments JEL Code(s): E, E2, E23, E24, O, O4, O47

• Relative Prices, Trading Gains, and Real GDI: The Case of Canada

  Staff Discussion Paper 2009-4 Yi Zheng

  Treating imports as intermediate inputs to domestic production, the author adopts the translog function approach to model real gross domestic income (GDI) in Canada over the 1961–2006 period. She explores the role of price ratios, such as terms of trade and the real effective exchange rate, in explaining changes in real GDI, trade openness, trade […]

  Content Type(s): Staff research, Staff discussion papers Topic(s): Econometric and statistical methods, Productivity JEL Code(s): C, C4, C43, D, D3, D33, F, F1, F10, O, O4, O47

• India and the Global Demand for Commodities: Is There an Elephant in the Room?

  Staff Discussion Paper 2008-18 Michael Francis, Corinne Luu

  After 10 years of impressive growth, India is now the fourth largest economy in the world. Yet, to date, India's impact on global commodity markets has been muted. The authors examine how India's domestic and trade policies have distorted and constrained its demand for commodities.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Development economics, International topics JEL Code(s): F, F1, F14, O, O1, O13, O5, O53

• Firm Size and Productivity

  Staff Working Paper 2008-45 Danny Leung, Césaire Meh, Yaz Terajima

  This paper examines the relationship between firm size and productivity. In contrast to previous studies, this paper offers evidence of the relationship not only from manufacturing firms, but from non-manufacturing firms as well.

  Content Type(s): Staff research, Staff working papers Topic(s): Productivity JEL Code(s): L, L1, L11, L2, L25, O, O4, O47

• Driving Forces of the Canadian Economy: An Accounting Exercise

  Staff Working Paper 2008-14 Simona Cociuba, Alexander Ueberfeldt

  This paper analyses the Canadian economy for the post 1960 period. It uses an accounting procedure developed in Chari, Kehoe, and McGrattan (2006). The procedure identifies accounting factors that help align the predictions of the neoclassical growth model with macroeconomic variables observed in the data.

  Content Type(s): Staff research, Staff working papers Topic(s): Labour markets, Potential output, Productivity JEL Code(s): E, E2, E24, E6, E65, O, O4, O41, O5, O51

• Sterilized Intervention in Emerging-Market Economies: Trends, Costs, and Risks

  Staff Discussion Paper 2008-4 Robert Lavigne

  The author examines recent trends in sterilized intervention among emerging-market economies, to determine the size and extent of this policy in relation to earlier periods of heavy reserve accumulation. He then analyzes whether the domestic costs and risks of substantial and prolonged sterilization are beginning to manifest themselves.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Exchange rate regimes, Financial stability, International topics JEL Code(s): E, E5, E52, F, F3, F31, O, O2, O24

• Understanding Productivity: A Review of Recent Technical Research

  Staff Discussion Paper 2008-3 Richard Dion, Robert Fay

  The authors provide an extensive review of the rapidly expanding research on productivity, both at the macro and micro levels. They focus primarily on papers written about Canada, but also draw on selected studies from other countries, especially the United States, where such work sheds important light on particular aspects of productivity growth. The authors […]

  Content Type(s): Staff research, Staff discussion papers Topic(s): Productivity JEL Code(s): D, D2, D24, O, O3, O31, O4, O40, O47

• What Affects MFP in the Long-Run? Evidence from Canadian Industries

  Staff Working Paper 2008-4 Danny Leung, Yi Zheng

  In this paper we explore variables that may have an impact on multifactor productivity (MFP) in the long-run using the KLEMS database for Canada. We estimate a dynamic heterogeneous panel error-correction model of twelve 2-digit level industries.

  Content Type(s): Staff research, Staff working papers Topic(s): Productivity JEL Code(s): C, C2, C23, D, D2, D24, O, O3, O30

• The Impact of Emerging Asia on Commodity Prices

  Staff Working Paper 2007-55 Sylvie Morin, Calista Cheung

  Over the past 5 years, real energy and non-energy commodity prices have trended sharply higher. These relative price movements have had important implications for inflation and economic activity in both Canada and the rest of the world. China has accounted for the bulk of incremental demand for oil and many base metals over this period.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, International topics JEL Code(s): E, E3, F, F4, O, O1, O19, Q, Q1, Q11