In this paper we describe in detail the general structure of a multi-country, multi-sector, dynamic general equilibrium model with imperfect competition. We also discuss the numerical data requirements and the calibration procedure, and we offer an illustrative simulation exercise based on a...

This paper studies the direct impact of labour force ageing on productivity growth in 10 Canadian provinces over the period 1981-2001, with an outlook to 2046. It shows that older workers are, on average, less productive than younger workers and that labour force ageing has a modest negative...

As a net exporter of oil, the recent upward trend in the world prices of energy products represents both an opportunity and a challenge for Canada. This study investigates the aggregate and sectoral effects of a sustained increase in these prices on the Canadian economy using a multi-sector...

<Para ID="Par1">Despite substantial interest in the role of energy in the economy, the degree of substitutability between energy and other production inputs and the way energy should be included in the production function remain unresolved issues. This study provides industry-level parameter estimates of...</para>

Empirical industry-level studies find a systematic pattern of output and price responses to variations in oil prices. This pattern depends on the energy-intensity of production and on the origin of oil price shocks. We build a multisector business cycle model that features endogenous production...

This paper develops a dynamic stochastic general equilibrium model to analyze and derive simple budget rules in the face of volatile public revenue from natural resources in a low-income country like Niger. The simulation results suggest three policy lessons or rules of thumb. When a resource...

It is now well accepted in both academic and policy worlds that human capital accumulation plays a significant role in the increase of standards of living in different countries. Education is a primary source of human capital and is a key aspect in public policies to develop human capital. From...

The relationship between investment in public infrastructure and growth has become a pervasive theme in the theoretical and empirical literatures on economic growth in both developed and developing countries alike. Much of the recent debate on the means to reduce persistent poverty in developing...