@article{Productivity:682,
      recid = {682},
      author = {Cozier, Barry and Gupta, Rohit},
      title = {Is Productivity Exogenous Over the Cycle? Some Canadian  Evidence on the Solow Residual},
      publisher = {Bank of Canada},
      address = {1993},
      pages = {1 online resource (v, 26 pages)},
      abstract = {The authors investigate the exogeneity of productivity  changes in Canada using two different measures of such  changes. This procedure can provide evidence on real  business cycle theories in which output cycles arise from  optimal responses to exogenous productivity shocks that are  unaffected by factors such as aggregate demand. The paper  follows the work of Evans (1992), who finds that interest  rates, the money supply and government spending  Granger-cause productivity movements in the United States.  The results of this study support the view that demand  factors can affect Canadian short-run productivity. Past  values of money and interest rates Granger-cause  productivity movements and also explain a considerable  portion of the future variance of productivity changes. The  findings put in question the exogeneity of productivity  movements in Canada.},
      url = {http://www.oar-rao.bank-banque-canada.ca/record/682},
      doi = {https://doi.org/10.34989/swp-1993-13},
}