@article{Productivity::1207,
      recid = {1207},
      author = {Dolega, Michael},
      title = {Tracking Canadian Trend Productivity: A Dynamic Factor  Model with Markov Switching},
      publisher = {Bank of Canada},
      address = {2007},
      pages = {1 online resource (iii, 28 pages)},
      abstract = {The author attempts to track Canadian labour productivity  over the past four decades using a multivariate dynamic  factor model that, in addition to the labour productivity  series, includes aggregate compensation and consumption  information. Productivity is assumed to switch between two  regimes (the high-growth state and the low-growth state)  with different trend growth rates according to a  first-order Markov process. The author finds that labour  productivity in Canada fell from the high-growth to the  low-growth state towards the end of the 1970s, and that it  has not yet reverted to the high-growth state. In  particular, the model primarily attributes the resurgence  of labour productivity growth in the late nineties to  transitory effects.},
      url = {http://www.oar-rao.bank-banque-canada.ca/record/1207},
      doi = {https://doi.org/10.34989/sdp-2007-12},
}