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Blog Profile / Worthwhile Canadian Initiative


URL :http://worthwhile.typepad.com/worthwhile_canadian_initi/
Filed Under:Business & Finance / Economics
Posts on Regator:1141
Posts / Week:6
Archived Since:April 1, 2011

Blog Post Archive

Beware middle-aged men waving feminist flags

On December 12, 2006, Ontario ended "mandatory retirement." As of that date, employers could no longer base termination decisions on an employee's age. Ontario was following the lead of Quebec and Manitoba, which stopped having a standard retirement age in...

Short Run vs Long Run order of moves between monetary and fiscal authorities

Who moves first, and who moves last? In a game between the monetary authority and the fiscal authority, the order of moves matters. Just like in Stackelberg duopoly, where the effect of an increase in one firm's quantity will depend...

Economists aren't in the prediction business - and that's a good thing

Last year one of my students was trying to explain why immigrants struggle in the job market. His regressions weren't working, so he switched things round a bit. Using 2006 Census data, he found that people in Newfoundland are 30...

A short history of the Canadian one per cent

Any sensible policy designed to address the concentration of income at the top of the Canadian income distribution over the past thirty years or so has to be based on a working model that explains how and why it happened...

Is economics really a dismal science for women?

Donna Ginther and Shulamit Kahn have just published a paper that tracks thousands of American academics from the time they first get their PhDs through to their tenure and promotion decisions. They conclude: Economics is the one field where gender...

One of these Provinces is Not Like the Others...

Statistics Canada has released its provisional estimates of Canadian Government Finance Statistics (CGFS) for the period 2008 to 2012. This is a move away from the Financial Management System (FMS) data that was previously published by Statistics Canada. As described...

Fragility of Nash equilibria and Neo-Fisherites

I hope that I am reinventing the wheel by writing this post. And that some game theorist has already written something much better on the same subject. (If not, then they should have done.) But I need a game theorist...

Reverse-engineering David Andolfatto's and Stephen Williamson's Neo-Fisherian paper

Stephen has a new post defending the Neo-Fisherian perspective. He links to a new paper he and David wrote (pdf). It is not an easy paper. This is what I think is the intuition behind the results. Start with the...

The over-investment and under-saving theory of the ZLB

This post is ironic. I have a really neat new theory of what causes countries to hit the Zero Lower Bound. It's got a beautifully counter-intuitive policy implication. The government needs to tax investment, or subsidise saving, to help the...

The manufacturing trap

Oil prices are down lately, and over at the Broadbent Institute, Andrew Jackson is worried about the staples trap: Building on the seminal work of Harold Innis, [Mel] Watkins argued that the dominant theme of Canadian economic history has been...

Urban GDP

Statistics Canada has released experimental estimates of gross domestic product for the period 2001 to 2009 for 33 census metropolitan areas. The results of course reinforce what we already know – that Canada’s economic activity is concentrated in its cities...

The collective speed limit game

Neo-Fisherite fun. Plus concrete steppes fun. 1. Suppose you don't care what speed you drive. Anything between 0 and 200 is all the same to you. But the cops do care what speed you drive. They want you to drive...

Bond Finance and the Great Depression

Attending the Social Science History Association Meetings in Toronto this weekend provided as usual an opportunity to take in new papers and ideas, digest them and then think about what further insight they might add to our knowledge of past...

Black holes and Neo-Fisherites are a monetary phenomenon

Suppose you live in a Neo-Wicksellian economy, where the central bank sets a nominal rate of interest. Black holes are a theoretical possibility. Nominal demand for goods can spiral down to zero, if people expect it to. And white explosions...

Neo-Fisherites again: Schmitt-Grohe and Uribe

I was scared of reading Stephanie Schmitt-Grohe and Martin Uribe's paper (pdf). All I knew was that it was a technically demanding paper, and that it had the "Neo-Fisherite" result -- if the central bank increased the rate of interest,...

Neo-Fisherites and the Scandinavian Flick

Noah Smith wonders if "reality might topple a beloved economic theory". Well, if you look at Sweden, reality just confirmed that beloved economic theory. The Riksbank raised interest rates because it was scared that low interest rates would cause financial...

Reverse Regression and the Great Gatsby Curve

Economists normally run a regression of son's income on father's income, and interpret the estimate beta as a measure of "intergenerational mobility". (High beta means low "mobility"). I think we could learn something interesting by reversing the regression -- run...

Comparing Health Spending Restraint: Past and Present

Adjusting for inflation and population growth, the new CIHI numbers show per capita provincial and territorial government health expenditures have declined since their peak in 2010. From a high of $2,584 (1997 dollars), real provincial and territorial government health spending...

Making two macroeconomic fallacies true

This will be a confusing post, because I'm writing it to try to get my head clear on something. And it's still not clear. There are no answers here: only questions, and strange thoughts. 1. Lots of people believe the...

New CIHI Health Numbers: Health Care Cost Curve Still Bending

The Canadian Institute for Health Information has released its 2014 edition of health spending data - National Health Expenditure Trends, 1975 to 2014 – and the numbers seem to show a continuing trend towards slower growth of health expenditures in...

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