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The Terms of Trade and Domestic Spending

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  • Macdonald, Ryan

Abstract

This paper empirically illustrates the impact of ongoing changes to Canada's terms of trade. It provides a discussion of how the terms of trade are measured and how to interpret terms of trade shifts. Examples of two major factors affecting Canada's terms of trade are provided, followed by an empirical analysis of how the terms of trade improvements that began in early 2003 have affected consumption, investment and import activity. The paper concludes by illustrating why final domestic demand growth has outpaced real GDP growth since 2003.

Suggested Citation

  • Macdonald, Ryan, 2008. "The Terms of Trade and Domestic Spending," Insights on the Canadian Economy 2008018e, Statistics Canada, Economic Analysis Division.
  • Handle: RePEc:stc:stcp2e:2008018e
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    File URL: http://www5.statcan.gc.ca/olc-cel/olc.action?ObjId=11-624-M2008018&ObjType=46&lang=en&limit=0
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    References listed on IDEAS

    as
    1. Maynard, Jean-Pierre, 2005. "Annual Measure of the Volume of Work Consistent with the SNA: The Canadian Experience," Economic Analysis Methodology Paper Series: National Accounts 2005005e, Statistics Canada, Economic Analysis Division.
    2. John R. Baldwin & Tarek Harchaoui, 2005. "The Integration of the Canadian Productivity Accounts within the System of National Accounts: Current Status and Challenges Ahead," NBER Working Papers 11107, National Bureau of Economic Research, Inc.
    3. Baldwin, John R. & Maynard, Jean-Pierre & Wong, Fanny, 2005. "The Output Gap Between Canada and the United States: The Role of Productivity (1994-2002)," Insights on the Canadian Economy 2005009e, Statistics Canada, Economic Analysis Division.
    4. Baldwin, John R. & Harchaoui, Tarek, 2005. "The Integration of the Canadian Productivity Accounts Within the System of National Accounts: Current Status and Challenges Ahead," Economic Analysis Methodology Paper Series: National Accounts 2005004e, Statistics Canada, Economic Analysis Division.
    5. John R. Baldwin & Tarek M. Harchaoui, 2006. "The Integration of the Canadian Productivity Accounts within the System of National Accounts: Current Status and Challenges Ahead," NBER Chapters,in: A New Architecture for the U.S. National Accounts, pages 439-470 National Bureau of Economic Research, Inc.
    6. Baldwin, John R. & Maynard, Jean-Pierre & Tanguay, Marc & Wong, Fanny & Yan, Beiling, 2005. "A Comparison of Canadian and U.S. Productivity Levels: An Exploration of Measurement Issues," Economic Analysis (EA) Research Paper Series 2005028e, Statistics Canada, Analytical Studies Branch.
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    Cited by:

    1. Andrew Sharpe & Alexander Murray, 2011. "State of the Evidence on Health as a Determinant of Productivity," CSLS Research Reports 2011-04, Centre for the Study of Living Standards.

    More about this item

    Keywords

    Economic accounts; Gross domestic product; Income and expenditure accounts;

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