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Turning Points: Business Cycles in Canada Since 1926

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Author Info

  • Philip Cross

    (Business Cycle Council, C.D. Howe Institute)

  • Philippe Bergevin

    (C.D. Howe Institute)

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    Abstract

    Market-based economies tend to exhibit cyclical behaviour. The recent financial crisis, with devastating impacts that are still being felt today, has added urgency to the drive to improve our understanding of business cycles. Pinpointing key turning points in the economy, meaning when recession takes hold or growth resumes, is vital for policymakers, businesses and consumers alike. In this paper, the authors clarify how best to define a recession and measure its severity. And, to create a foundation for further research in this area, we provide an authoritative set of business cycle dates for Canada, going back to 1926. These dates were reviewed and approved by the C.D. Howe Institute Business Cycle Council.

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    Bibliographic Info

    Article provided by C.D. Howe Institute in its journal C.D. Howe Institute Commentary.

    Volume (Year): (2012)
    Issue (Month): 366 (October)
    Pages:

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    Handle: RePEc:cdh:commen:366

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    Related research

    Keywords: Economic Growth and Innovation; Canada; business cycles; recession; financial crisis;

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Barry Eichengreen, 1992. "Golden Fetters: The Gold Standard and the Great Depression, 1919-1939," NBER Books, National Bureau of Economic Research, Inc, number eich92-1, June.
    2. Benjamin Dachis & William B.P. Robson, 2012. "From Living Well to Working Well: Raising Canada's Performance in Non-residential Investment," e-briefs 137, C.D. Howe Institute.
    3. Bernanke, Ben S, 1995. "The Macroeconomics of the Great Depression: A Comparative Approach," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(1), pages 1-28, February.
    4. Philippe Bergevin & William B.P. Robson, 2012. "More RRBs, Please! Why Ottawa Should Issue More Inflation-Indexed Bonds," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 363, September.
    5. Arthur F. Burns & Wesley C. Mitchell, 1946. "Measuring Business Cycles," NBER Books, National Bureau of Economic Research, Inc, number burn46-1, June.
    6. Edward E. Leamer, 2008. "What's a Recession, Anyway?," NBER Working Papers 14221, National Bureau of Economic Research, Inc.
    7. Benjamin Dachis, 2012. "Stuck in Place: The Effect of Land Transfer Taxes on Housing Transactions," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 364, October.
    8. Geoffrey H. Moore & Victor Zarnowitz, 1987. "The Development and Role of the National Bureau's Business Cycle Chronologies," NBER Working Papers 1394, National Bureau of Economic Research, Inc.
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