Alternative estimates for the volatility of pre-depression and post-World War II Canadian business cycles are constructed using various real Canadian GNP series. These estimates all suggest that the latter period was prone to much less cyclical volatility than the pre-depression years. With few...

In model presented in this paper, once one allows for effort variability that is positively related to labor compensation, relatively low wages that are a product of labor market discrimination can persist over time even in a world of perfect product market competition. Low wage labor is no...