Arbeitspapier
Driving forces of the Canadian economy: An accounting exercise
This paper analyses the Canadian economy for the post 1960 period. It uses an accounting procedure developed in Chari, Kehoe, and McGrattan (2006). The procedure identifies accounting factors that help align the predictions of the neoclassical growth model with macroeconomic variables observed in the data. The paper finds that total factor productivity and the consumptionleisure trade-off the productivity and labor factors are key to understanding the changes in output, labor supply and labor productivity observed in the Canadian economy. The paper performs a decomposition of the labor factor for Canada and the United States. It finds that the decline in the gender wage gap is a major driving force of the decrease in the labor market distortions. Moreover, the milder reduction in the labor market distortions observed in Canada, compared to the US, is due to a relative increase in effective labor taxes in Canada.
- Language
-
Englisch
- Bibliographic citation
-
Series: Bank of Canada Working Paper ; No. 2008-14
- Classification
-
Wirtschaft
Studies of Particular Policy Episodes
Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
One, Two, and Multisector Growth Models
Economywide Country Studies: U.S.; Canada
- Subject
-
Labour markets
Potential output
Productivity
Produktivität
Arbeitsangebot
Gesamtwirtschaftliche Produktion
Weibliche Arbeitskräfte
Lohndifferenzierung
Kanada
USA
- Event
-
Geistige Schöpfung
- (who)
-
Cociuba, Simona E.
Ueberfeldt, Alexander
- Event
-
Veröffentlichung
- (who)
-
Bank of Canada
- (where)
-
Ottawa
- (when)
-
2008
- DOI
-
doi:10.34989/swp-2008-14
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Cociuba, Simona E.
- Ueberfeldt, Alexander
- Bank of Canada
Time of origin
- 2008
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