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Common trends and common cycles in Canada: who knew so much has been going on? Author info | Abstract | Publisher info | Download info | Related research | Statistics Elizabeth Wakerly
Byron Scott
James Nason
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It is generally accepted that convergence is well established for Canadian regional outputs. Another prevalent belief is that the Canadian regions respond symmetrically to the same aggregate shocks. A common trends - common cycles decomposition of Canadian regional outputs casts doubt on the convergence hypothesis and reveals trend shocks dominate fluctuations in Ontario, Quebec, and the Maritimes in the short and long run, but not in British Columbia and the Prairies. Thus, Canadian regional output fluctuations are driven by an asymmetric and economically important set of disaggregate propagation and growth mechanisms. Our results point to a new Canadian macroeconomic research agenda.
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Article provided by Canadian Economics Association in its journal Canadian Journal of Economics .
Volume (Year): 39 (2006)
Issue (Month): 1 (February)
Pages: 320-347
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Handle: RePEc:cje:issued:v:39:y:2006:i:1:p:320-347Contact details of provider: Postal: Canadian Economics Association Prof. Steven Ambler, Secretary-Treasurer c/o Olivier Lebert, CEA/CJE/CPP Office C.P. 35006, 1221 Fleury Est Montréal, Québec, Canada H2C 3K4 Email: Web page: http://economics.ca/cje/ More information through EDIRC
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Find related papers by JEL classification: C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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references Cited by : (explanations , 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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