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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:1046
Posts / Week:6.1
Archived Since:April 1, 2011

Blog Post Archive

A simple test of simple rules against actual policy in the actual economy

A "simple rule" is a formula that tells a central bank how to set the nominal interest rate as a fixed function of a small number of variables. The Taylor Rule, which sets the nominal rate as a function of...

Employment and Investment: the great Canadian disconnect

[This is a guest post by Hashmat Khan of Carleton University and Nyamekye Asare of the University of Ottawa.] Can policies stimulating private investment deliver higher employment? Maybe, but investment and employment have become disconnected recently in Canada. John Taylor...

Visualizing the Economy

I will be teaching first year economics this fall for the first time in quite a number of years and I want to provide a more gripping visual presentation of what an economy is. I have the standard set of...

Insufficient Demand vs?? Uncertainty

It's a false dichotomy. Just a quickie, in response to Noah Smith and John Cochrane. John Cochrane says: "John Taylor, Stanford's Nick Bloom and Chicago Booth's Steve Davis see the uncertainty induced by seat-of-the-pants policy at fault. Who wants to...

Neofiscalist delusions?

It seems I need to respond to Paul Krugman. "The neomonetarist movement starts from an acknowledgement of reality: shortfalls of aggregate demand do happen, and they do matter, and we need an answer. Like the original monetarists, however, they reject...

Canada: One Hundred and Forty-Seven Years of Economic Growth

Well Canada Day is once again upon us – we now have 147 years of Confederation to celebrate– and what better way to celebrate than with a brief retrospective of economic performance as measured by per capita GDP. For your...

The CWEN lunch: an idea whose time has past?

The Canadian Economics Association meetings take the same format every year: sessions start at 8:30 a.m. Friday morning and end at noon on Sunday. The Innis Lecture is Friday evening and the Purvis lunch is Saturday afternoon. From time to...

Repeat after me: people cannot and do not "spend" money

John Maynard Keynes famously wrote that: "Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist." A modern example of that dictum, relevant to the economy, policy, and markets,...

House prices and inflation targeting

"Should house prices be included in the CPI?" is not a good question to ask. The best answer to that question is another question: "Why do you want to know?" Or, "What are you planning to use the CPI for?"...

All-you-can-eat sushi restaurants should not exist. Why do they?

All-you-can-eat restaurants should not exist. People with large appetites crowd into all-you-can-eat establishments. These greedy customers eat vast amounts, driving up the restaurants' costs. Restaurants have no choice but to increase prices, but this turns off people with small appetites....

Regression toward the mean

I am feeling too stupid to write a proper blog post (Spring doldrums). So I thought I would take the opportunity to make lemonade and write a short post about my own stupidity. Every educated person should understand at least...

Yes, academic administrators do have to alienate people

My colleague Stephen Saideman just tweeted a post by Bill Ayres on The Myth of Academic Incompetence. In it, Bill argues: there is no necessary correlation between having to make sometimes difficult trade-off decisions and alienating people. What matters is...

Ontario's Economic Future?

Well, the election is over and I must admit I was not that surprised the Liberals formed the government but I am surprised at the fact it is a majority government. There are now numerous economic challenges facing the province...

Bank runs, keynesian multipliers, monetarist cold potatoes

They are all the same. Do bank runs cause recessions, or do recessions cause bank runs? Both. Neither. They are the same thing. (This post isn't as clear as I want it to be, because my mind isn't as clear...

Fiscal Policy Shocks

Well, here is a new contribution to the debate over the effect of fiscal policy shocks from the journal of the Institute for Fiscal Studies. The authors Pawe? Borys, Piotr Ci?kowicz and Andrzej Rzo?ca are from the Warsaw School of.....

Flogging a Dead Horse III: The weird response of Benjamin Zycher

This post was written by Mike Veall of the Department of Economics at McMaster University. Sorry, I am still on about the research that was used to formulate the Ontario Progressive Conservative jobs plan. Again I emphasize this is about...

Dutch Inequality Theory

Last night I dreamt of Nick van Rowe again. I asked my Dutch ancestor what he thought would happen to the distribution of wealth in the future. According to Dutch Capital Theory, "capital" is just the name we give to...

The Economic Role of Monarchy

In the wake of the abdication of King Juan Carlos of Spain, the New York Times ran a short piece on monarchies noting that 12 monarchies still survive in Europe with eight of them being liberal democracies – Belgium, Britain,...

Teaching general principles of macro

In a couple of hours the Bank of Canada will do what it does eight times a year. It will set a temporary target for the overnight rate of interest. Will it raise it, lower it, or leave it the...

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