Productivity Growth and the Phillips Curve
Productivity Growth and the Phillips Curve

Author: Laurence M. Ball

Publisher:

Published: 2001

Total Pages: 50

ISBN-13:

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We present a model in which workers' aspirations for wage increases adjust slowly to shifts in productivity growth. The model yields a Phillips curve with a new variable: the gap between productivity growth and an average of past wage growth. Empirically, this variable shows up strongly in the U.S. Phillips curve. Including it explains the otherwise puzzling shift in the unemployment-inflation tradeoff since 1995

Canada's Potential Growth
Canada's Potential Growth

Author: Marcelo M. Estevão

Publisher:

Published: 2010

Total Pages: 30

ISBN-13:

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This study investigates the impact of the current financial crisis on Canada's potential GDP growth. Using a simple accounting framework to decompose trend GDP growth into changes in capital, labor services and total factor productivity, we find a sizable drop in Canadian potential growth in the short term. The estimated decline of about 1 percentage point originates from a sharply decelerating capital stock accumulation (as investment has dropped steeply) and a rising long-term unemployment rate (which would raise equilibrium unemployment rates). However, over the medium term, we expect Canada's potential GDP growth to gradually rise to around 2 percent, below the pre-crisis growth rate, mostly reflecting the effects of population aging and a secular decline in average working hours.

Determinants of Canadian Productivity Growth
Determinants of Canadian Productivity Growth

Author: Richard G. Harris

Publisher: Canadian Museum of Civilization/Musee Canadien Des Civilisations

Published: 1999

Total Pages: 106

ISBN-13:

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This paper looks at the future for productivity growth in Canada. Chapter 2 discusses theory and measurement issues. Two themes are covered: the link between productivity and living standards; the relationship between theory and measurement in light of the widespread use of the concept of multifactor productivity. Chapter 3 discusses the empirical literature on the determinants or drivers of productivity growth including investment, education and training, innovation, diffusion, and the broader context in which productivity growth is set. Chapter 4 deals with the prospects for future productivity growth in Canada. Chapter 5 concludes with a discussion of how traditional economic policies should account for potential productivity effects.

Productivity Issues in Canada
Productivity Issues in Canada

Author: Canada. Industry Canada

Publisher: Calgary : University of Calgary Press

Published: 2002

Total Pages: 916

ISBN-13:

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A collection of research papers that explains Canada's relatively weak productivity record over the last few decades and the nature of productivity growth in Canada. The book covers a wide range of topics, including productivity trends and determinants, innovation, investment, global linkages, productivity in the new economy, and the social aspects of productivity. Includes in-depth and detailed papers by experts in Canadian economics, policy, trade etc.