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Canada's Potential Growth : Another Victim of the Crisis? / Marcello Estevão, Evridiki Tsounta.
- Format:
- Book
- Government document
- Author/Creator:
- Estevão, Marcello.
- Series:
- IMF Working Papers; Working Paper ; No. 2010/013
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Industrial productivity--Canada.
- Industrial productivity.
- Labor productivity--Canada.
- Labor productivity.
- Economic development--Canada.
- Economic development.
- Global Financial Crisis, 2008-2009.
- Financial crises--Canada.
- Financial crises.
- Physical Description:
- 1 online resource (30 p.)
- Edition:
- 1st ed.
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2010.
- Language Note:
- English
- Summary:
- This study investigates the impact of the current financial crisis on Canada's potential GDP growth. Using a simple accounting framework to decompose trend GDP growth into changes in capital, labor services and total factor productivity, we find a sizeable drop in Canadian potential growth in the short term. The estimated decline of about 1 percentage point originates from a sharply decelerating capital stock accumulation (as investment has dropped steeply) and a rising long-term unemployment rate (which would raise equilibrium unemployment rates). However, over the medium term, we expect Canada's potential GDP growth to gradually rise to around 2 percent, below the pre-crisis growth rate, mostly reflecting the effects of population aging and a secular decline in average working hours.
- Contents:
- Contents; I. Introduction; II. Some Theoretical Considerations; III. Impact of Past Financial Crises on Potential; IV. Productivity Developments in the Canadian Business Sector; V. Canada's NAIRU; VI. A Simple Framework to Decompose and Project Potential GDP Growth; VII. Results; VIII. A Look at Past Canadian Recessions; IX. Conclusions and Policy Implications; References; Figure; 1. Canada: Potential Output Growth; Tables; 1. Path for Potential Output Growth Components; 2. Path for Potential Output Growth Components During Recent Canadian Downturn; Annex; 1. Data Sources
- Notes:
- Description based upon print version of record.
- Includes bibliographical references (p. 20-24).
- Description based on publisher supplied metadata and other sources.
- ISBN:
- 9786613878809
- 9781462384006
- 1462384005
- 9781452786377
- 1452786372
- 9781283566353
- 1283566354
- 9781451918625
- 1451918623
- OCLC:
- 870244826
- Publisher Number:
- 221248 CaOOCEL (Public Documents)
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