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©1998 International Monetary Fund

Abstract

©1998 International Monetary Fund

Title Page

©1998 International Monetary Fund

June 1998

IMF Staff Country Report No. 98/55

Canada: Selected Issues

This Selected Issues report on Canada was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. As such, the views expressed in this document are those of the staff team and do not necessarily reflect the views of the Government of Canada or the Executive Board of the IMF. In releasing this document for public use, confidential material has been removed at the request of the member.

Copyright

Copies of this report are available to the public from

International Monetary Fund • Publication Services

700 19th Street, N.W. • Washington, D.C. 20431

Telephone: (202) 623-7430 • Telefax: (202) 623-7201

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Price: $15.00 a copy

International Monetary Fund

Washington, D.C.

INTERNATIONAL MONETARY FUND

CANADA

Selected Issues

Prepared by S. Dunaway, M. Cerisola, J. Cole, B. González-Hermosillo, M. Leidy, S. O’Connor, R. Salgado, S. Tokarick, Y. Li (all WHD), P. Swagel (RES), and P. Sorsa (PDR).

Approved by the Western Hemisphere Department

May 28, 1998

Contents

  • I. The Persistence of Unemployment in Canada

  • II. Recent Trends in Personal Saving in Canada

    • A. Measuring the Personal Saving Rate

    • B. Factors Affecting the Personal Saving Rate

  • III. Inflation Targeting: Considerations in Reducing Inflation Further

  • IV. Inflation Versus Price-Level Targeting

  • V. Macroeconomic Effects of Government Debt in Canada

  • VI. Health Care, Demographics, and Fiscal Sustainability

  • VII. The Canadian Agreement on Internal Trade: Developments and Prospects

    • A. Barriers to Internal Trade in Canada

    • B. Elements of the AIT

    • C. Developments Since Entry Into Force

    • D. Scope for Further Progress

  • VIII. Developments in Canadian Trade Policy

    • A. Introduction

    • B. World Trade Organization

    • C. Regional Trading Arrangements

    • D. Canadian Trade Policies

    • E. Foreign Investment

    • F. Trade Preferences for Developing Countries

  • IX. Official Development Assistance

  • Text Tables

  • I.

    • 1. Stylized Facts on Unemployment and Structural Factors 1976–96

    • 2. Capital-Labor and Capital-Output Ratios 1976–96

    • 3. Structural Unemployment 1976:3–1996:3

  • II.

    • 1. Correlation Matrix of Different Measures of Personal Saving Rates

    • 2. Stationarity Tests

  • IV.

    • 1. Price-Level Versus Inflation Targeting: Simulation Results

  • VI.

    • 1. Total Health Expenditures

    • 2. Provincial Health Expenditures and Net Debt

  • Charts

  • I.

    • 1. Unemployment Rate

    • 2. Capital Use

    • 3. Cost of Capital

    • 4. Capital-Labor Ratio

    • 5. Capital-Output Ratio

    • 6. Unemployment

  • II.

    • 1. National Accounts Personal Saving Rate

    • 2. National Accounts Personal Saving Rate and Inflation

    • 3. National Accounts Personal Saving Rate Versus Real Net Worth Saving Rate

    • 4. Different Measures of Personal Saving Rates

    • 5. Real Net Worth Saving Rate and Per Capita Disposable Income

  • IV.

    • 1. Price-Level Variation Under Inflation Versus Price-Level Targeting

  • V.

    • 1. Federal Government Net Debt

    • 2. Federal Government Fiscal Balances

    • 3. Long-Term Interest Rates

    • 4. Increase in GDP

    • 5. Federal Government Interest Payments

  • VI.

    • 1. Demographic Projections

    • 2. Total Health Expenditures

    • 3. Provincial Government Finances

    • 4. Total and Provincial Health Expenditures

  • VII.

    • 1. Canadian International and Interprovincial Trade

    • 2. International and Interprovincial Trade, 1984 and 1996

  • Collapse
  • Expand
Canada: Selected Issues
Author:
International Monetary Fund