@article{Business:653,
      recid = {653},
      author = {Dea, Christian and Ng, Serena},
      title = {Sources of Business Cycles in Canada},
      publisher = {Bank of Canada},
      address = {1990},
      pages = {1 online resource (21 pages plus appendix and figures)},
      abstract = {This paper uses the methodologies developed by Blanchard  and Quah (1989) and Shapiro and Watson (1988) to identify  and assess the importance of supply and demand shocks in  Canadian business cycles. Our principal finding is that  supply shocks account for about 80 per cent of short run  output fluctuations while demand shocks are responsible for  more than 60 per cent of fluctuations in the unemployment  rate and the inflation rate. Thus, while our results  strongly support the real business cycle approach to  modelling economic fluctuations, they also suggest that the  traditional emphasis on demand shocks cannot be dismissed  altogether.},
      url = {http://www.oar-rao.bank-banque-canada.ca/record/653},
      doi = {https://doi.org/10.34989/swp-1990-4},
}