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Turning Points: Business Cycles in Canada Since 1926

  • Philip Cross

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

  • Philippe Bergevin

    (C.D. Howe Institute)

Registered author(s):

    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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    File URL: http://www.cdhowe.org/pdf/Commentary_366.pdf
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    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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    1. Edward E. Leamer, 2008. "What's a Recession, Anyway?," NBER Working Papers 14221, National Bureau of Economic Research, Inc.
    2. 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.
    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. 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, August.
    5. Arthur F. Burns & Wesley C. Mitchell, 1946. "Measuring Business Cycles," NBER Books, National Bureau of Economic Research, Inc, number burn46-1, August.
    6. 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.
    7. 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.
    8. 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.
    9. David Longworth, 2012. "Combatting the Dangers Lurking in the Shadows: The Macroprudential Regulation of Shadow Banking," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 361, September.
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