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• W2074166613 abstract "This paper analyses the role of shocks in Canadian economic growth since 1870. It uses a nonparametric technique to evaluate the degree of presistence of an innnovation in long-run GNP. It is found that a one percent shock to Canadian GNP changes the long-run forecast of this variable by appproximately the same amount, which is characteristic of a random walk process. It is also shown that in important periods of Canadian economic growth its GNP evolved as a random walk with constant drift. With the exception of the period 1929–42, no evidence of business cycles is found. These results lead to the conclusion that movements and oscillations in the GNP of Canada since 1870 have been primarily driven by the accumulation of shocks rather than by cyclical movements." @default.
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• W2074166613 date "1994-05-01" @default.
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• W2074166613 title "Canadian economic growth: random walk or just a walk?" @default.
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• W2074166613 doi "https://doi.org/10.1080/00036849400000011" @default.
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