A Long-Run Version of the Bank of Canada Commodity Price Index, 1870 to 2015 /

'This paper develops historical estimates of the Bank of Canada commodity price index (BCPI) and links them to modern estimates. Using a collection of historical data sources, it estimates weights and prices sufficiently consistently to merit the construction of long-run estimates that may be linked to the modern Fisher BCPI. The resulting long-run Fisher BCPI estimates show a repeated pattern of rapidly changing prices followed by periods of calm. This pattern is most pronounced since 1900'--Abstract.