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...

With an increasing share of global commerce taking place in digital form or facilitated by digital platforms, it is becoming increasingly important to update the rules-based framework to accommodate and enable the development of the intangibles-based data-driven economy while reconciling the...

After 26 years of trading under the North American Free Trade agreement (NAFTA), Mexico and its North American partners enter a new phase with the entry into force of United States-Mexico-Canada Agreement (USMCA) on 1 July 2020. This note quantifies the potential impact of the agreement on...

The policy measures taken to address the coronavirus pandemic have plunged the global economy into the greatest recession since the 1930s. These measures were motivated in the first instance by the experience in regions where the virus was uncontained and resulted in overwhelmed medical systems...

Dion examines the evolution of Canadian productivity since the mid-1990s, using the United States as a benchmark. During this period, trend productivity growth in Canada remained modest, whereas the U.S. witnessed a strong resurgence. Among the factors identified as potential root causes of...

The Canadian merchandise trade surplus increased rather modestly in 1978 and 1979 given that the depreciation of the real exchange rate since 1977 had considerably reinforced our competitive position. With the aid of an econometric model, we try to measure the respective contributions of the...

When there is uncertainty about estimates of the margin of unused capacity in the economy, examining a range of inflation indicators may help in assessing the balance of risks regarding the outlook for inflation. This paper tests a wide range of observable variables for their leading-indicator...

This article examines factors that have affected the growth of potential output since the 1950s and presents three possible scenarios for its growth in the future. The authors conclude that there will be a marked slowing in the future growth of potential output as a result of slow population...

An objective assessment of the effects of the appreciation of the Canadian dollar in 2003 and 2004 on exports and imports requires a detailed review of the numerous other factors which may have been at play. Dion, Laurence, and Zheng discuss the influences that have affected Canada's...

In the year and a half leading up to mid-2003, both employment and labour force participation increased at an unusually rapid pace compared to domestic economic activity. Gains in employment were unusually large, relative to output growth, compared to gains in total hours worked. This is...