While the service sector has been growing rapidly as a share of total output, aggregate productivity growth has generally lagged behind that of the goods sector. In this report, the author assesses a range of explanations for lagging service sector productivity growth. Measurement problems...

In recent years, there has been a lot of interest in Taylor-type rules. Evidence in the literature suggests that Taylor-type rules are optimal in a number of models and are fairly robust across different models. The reaction function in the Bank of Canada's Quarterly Projection Model (QPM) is an...

For over three decades, measured productivity growth in the commercial service sector has consistently lagged behind that of the goods-producing sector. At the same time, the service sector has greatly expanded its share of output and employment. Some commentators have suggested that this trend...

In recent years, the Bank has put renewed emphasis on analyzing monetary variables and on developing models that incorporate money as an active part of the transmission mechanism. In this article, Dinah Maclean describes how the monetary aggregates are used in the formulation of monetary policy...

As the ultimate provider of Canadian-dollar liquidity to the financial system, the Bank of Canada has the unique capacity to create Canadian-dollar claims on the central bank and the power to make secured loans or advances to chartered banks and other members of the Canadian Payments...

While the service sector has been growing rapidly as a share of total output, aggregate productivity growth has generally lagged behind that of the goods sector. In this report, the author assesses a range of explanations for lagging service sector productivity growth. Measurement problems...

This paper presents a novel framework for the management of organisational transformation, defined here as a relatively rapid transition from one archetype to another. The concept of dissipative structures, from the field of complexity theory, is used to develop and explain a specific sequence...

This article explores some of the constraints on the development of knowledge through a multi-perspective examination of a project where there was an intention, and enacted process, to develop knowledge. Building on prior work in the fields of knowledge and knowledge management, the article is...

This paper aims to enable the operations management community to engage with concepts from the field of complexity theory and apply them to the issue of organisational transformation. It begins by reviewing existing work on strategic change, then provides an overview of complexity theory to show...