Real GDP, Real GDI and Trading Gains: Canada, 1981-2005

Ulrich R. Kohli

45 citations0/0 files storedRePEc: Research Papers in Economics

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Monetary Policy and Economic Impact Global trade and economics Economic Theory and Policy

Abstract

Real gross domestic product (GDP) fails to account for the trading gains and losses that result from changes in the terms of trade and in the real exchange rate (the price of tradables relative to the price of nontradables). Canada has enjoyed vast improvements in its terms of trade over recent years and there is a growing suspicion that real GDP has done an inadequate job at reflecting the resulting increases in real value added and real gross domestic income (GDI). Superlative measures of the terms of trade and real exchange rate effects confirm this view, with the trading gains adding up to 4.8 per cent of GDP between 2002 and 2005.

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1963Capital Mobility and Stabilization Policy Under Fixed and Flexible Exchange Rates 1976Exact and superlative index numbers 1921Survey of current business 1962Domestic Financial Policies Under Fixed and Under Floating Exchange Rates 1978Superlative Index Numbers and Consistency in Aggregation 1959INTERNAL AND EXTERNAL BALANCE: THE ROLE OP PRICE AND EXPENDITURE EFFECTS 2017The Theory of Trade in Middle Products 1978A Gross National Product Function and the Derived Demand for Imports and Supply of Exports

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