Accounting For Canada¡¯S Economic Growth
AbstractA dynamic stochastic general equilibrium model is constructed and calibrated to the Canadian economy. Technology disturbances from the Canadian economy are filtered through the model and used to generate artificial time series. Output growth in the model is then decomposed into the share weighted growth rates of the factor inputs and productivity. The model is then used to identify the endogenous responses of the factor inputs to the technology disturbances. The results suggest that much of the slowdown observed in Canadian output growth since 1974 can be explained by fluctuations in the rates of investment-specific and residual-neutral technological change.
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Bibliographic InfoArticle provided by Chung-Ang Unviersity, Department of Economics in its journal Journal Of Economic Development.
Volume (Year): 28 (2003)
Issue (Month): 2 (December)
Investment-Specific Technological Change; Total Factor Productivity; Economic Growth;
Find related papers by JEL classification:
- E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
- O43 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
- 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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- Kosempel, S., 2001. "A Theory of Development and Long Run Growth," Working Papers 2001-5, University of Guelph, Department of Economics.
- Kenneth Carlaw & Stephen Kosempel, 2004. "The sources of total factor productivity growth: Evidence from Canadian data," Economics of Innovation and New Technology, Taylor and Francis Journals, vol. 13(4), pages 299-309.
- Araujo, Ricardo Azevedo & Teixeira, Joanílio Rodolpho, 2010. "Investment Specific Technological Progress and Structural Change," MPRA Paper 46079, University Library of Munich, Germany.
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