Abstract
This paper describes a comprehensive measure of aggregate private-sector wealth in Canada that includes both human and nonhuman wealth. Wealth and its components are measured at a quarterly frequency from 1963 to 1994. Human wealth is computed as the expected present value of aggregate labor income net of government expenditures using a finite-state Markov approximation to an estimated bivariate VAR for the real interest rate and net income growth. Nonhuman wealth is constructed by consolidating the assets and liabilities of the various sectors of the economy. To the extent possible, assets and liabilities are measured at market value.
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