A Perspective on Future Productivity Growth in Canada
AbstractIn the first contribution to the Symposium included in this volume on Future Productivity Growth in Canada, Thomas Wilson of the University of Toronto presents forecasts based on the FOCUS macroeconometric model of the Canadian economy. This model projects labour productivity growth to grow at an average annual rate of 1.7 per cent over the 2002-2025 period. Wilson is somewhat more optimistic, seeing labour productivity growth of around 2 per cent per year. Reasons behind his more rosy scenario include a greater pace of capital deepening due to much slower labour force growth, the realization of productivity gains from past investments in information and communications technologies, a mitigation of future business cycles due to greater use of automatic stabilizers, and continued benefits from trade liberalization.
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Bibliographic InfoArticle provided by Centre for the Study of Living Standards in its journal International Productivity Monitor.
Volume (Year): 7 (2003)
Issue (Month): (Fall)
Find related papers by JEL classification:
- O51 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
- E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
- E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
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