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Essay / Research Paper Abstract
This is a 6 page paper discussing the inflation and unemployment rates in Canada over the past thirty years. Inflation reducing policies introduced by the federal government are discussed along with some suggestions for further reductions in inflation and unemployment.
Bibliography lists 8 sources.
Page Count:
6 pages (~225 words per page)
File: D0_TJCanFd1.rtf
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Unformatted sample text from the term paper:
during the 1990s mainly due to the increase in interests rates that the Bank of Canada introduced. Because interest rates and inflation was high, the labor unions and employees demanded
increase in wages at the same time that the information technology industry was introduced. The IT industry requires a smaller work force and this in addition to the increases demanded
by the workers resulted in increased unemployment. Various suggestions have been made to combat this trade off between inflation and unemployment. One suggestion is that the Canadian government should increase
its development and support of businesses in the private sector resulting in an increase in foreign business investment and also an increase in the labor force. It has also been
suggested that the Bank of Canada give over the monetary control of interest rate determination to the private banking community to gain the trust of the population that interest rates
will decrease and not add to expected inflation. Canada has the worlds seventh largest economy and has increased in GDP from a reported
$57.5 billion in 1965 to over $780 billion reported in 1995. Similar to the United States and the other G-7 countries this growth in mainly due to the increase in
the service producing industries by nearly 126 percent, and the goods producing industries by 71 percent (Canada Business 1997). Despite this growth over
the past twenty five years, Canada slipped into a fairly steep recession starting in 1994. When the United States imposed tighter monetary policies in 1995 to slow inflation, this affected
the Canadian economy as well raising interest rates and decreasing demand. Although the economy began to recover near the end of 1996 due mainly to the increase in trade and
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