An Application of the Modern Quantity Theory to the Canadian Economy
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Authors
Shirley, Tristan James (Tris)
Issue Date
1967
Type
Thesis
Language
en_US
Keywords
Alternative Title
Abstract
This study was originally intended to cover the years
from 1900 until the present. Eventually, however, it became
quite apparent that all the necessary data was not available
for the years prior to 1926. Good data was not available
until 1938. The main problem with using data from earlier
years was that because of changes in methods of accounting
and compilation, it is not at all comparable with the more
recent data. From 1938 to 1966 however, these inconsistencies
could be corrected by adjustment, and the results of adjustment
seemed to be fairly accurate. There was, however, no point in
beginning a yearly series of data with 1938, since the war
years are ususl1y omitted in this type of analysis, and the
resulting gap would more than offset the advantages gained by
a few extra years of data. The best solution of the problem
seemed to be to entirely abandon the idea of a long run yearly
analysis and to use the quarterly data available from 1949
to 1966 in a short run analysis. This solution severely limits
the variety and number of economic fluctuations under which
the theory may be tested, but it does have the advantage of
allowing a much more rigorous testing of the predictive power
of the specific function than has been possible using yearly
data.
Description
ii, 58 p.
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