Blog Profile / Worthwhile Canadian Initiative


URL :http://worthwhile.typepad.com/worthwhile_canadian_initi/
Filed Under:Business & Finance / Economics
Posts on Regator:1198
Posts / Week:5.7
Archived Since:April 1, 2011

Blog Post Archive

Noah vs Steve: a suggested interpretation

Is Woodford's "cashless" economy a model of a monetary exchange economy, or a model of a barter economy? (In a monetary exchange economy, all other goods are only exchanged for one good called "money"; in a barter economy each good....

Fiscal Ships

“We're two ships that pass in the night, And we smile when we say it's alright We're still here, It's just that we're out of sight Like those ships that pass in the night” Barry Manilow Next week is a...

Secular stagnation, liquidity, and rent/price ratios

No answers here, only questions. By "secular stagnation" I mean "declining equilibrium real interest rates". Most explanations of secular stagnation say it is caused by a rising desire to save and/or a falling investment demand. Call this the "Saving/Investment Hypothesis"....

Funding the gerontocracy

This year, the per-vote subsidy once enjoyed by Canadian political parties ends. Parties will have to raise funds entirely through donations. So, who gives? There is a generous federal tax credit for political donations, worth 75 percent of the first...

SSHRC Grant Trends in Economics

Well, the past week saw notifications go out to academic economists on the results of their 2014-15 Social Science and Humanities Research Council of Canada (SSHRC) Insight Grant applications. Needless to say, there will be a lot of unhappy campers...

Overdrafts with 100% reserve banking

I was reading Frosti Sigurjonsson's proposal for monetary reform in Iceland. [Click on the document thingy halfway down the page.] His proposal is a variant on 100% reserve banking. I got stuck on page 72 and footnote 66, where he.....

Funding and the Future of Ontario Universities

Well, the Council of Ontario Universities or COU is looking for a new President and CEO. The role of COU is to serve as a voice for the province’s university sector and help improve the public policies that affect the...

Monetary policy in New Keynesian models is Gesellian

In one important respect, what we call "New Keynesian" macroeconomic models are in fact New Gesellian macroeconomic models. That's only in one respect, but it is important. Silvio Gesell proposed a tax on currency. The higher the tax rate, the...

Buyer's liquidity vs seller's liquidity

Liquid goods are easy to buy and sell. Illiquid goods are hard to buy and sell. I think we need to break up "buy and sell" into its two component parts. In a buyer's market, goods are easy to buy...

Asymmetric home bias and the transfer problem

A random thought on Germany and Greece. If apple producers and banana producers have the same symmetric Cobb-Douglas preferences U = A0.5.B0.5 the competitive equilibrium has half the apple crop being exchanged for half the banana crop. But if the...

A Resource Bust and Yet...

The OECD has cut its growth forecast for Canada citing the drop in oil and commodity prices. With all the talk about the slowdown in the Canadian economy picking up steam and slow growth as a result of the drop...

The Children's Fitness Tax Credit: A Study in (Academic) Incentives

The Children's Fitness Tax Credit gives parents a non-refundable tax credit to recognize the cost of registering children in sports. When the credit was first introduced, its cash value was $77.50 - the amount of the credit ($500) times the...

David Levine's accidental Monetarism

I confess this is a bit of a "Gotcha!". But it's a bit more than that as well. It illustrates the difficulty that people (even economists) have in "seeing" money. Brad DeLong flatters me (but he's right that this is...

Social blah blah blah

I've been asked to write a paper reviewing "social benefits" delivered through the personal income tax system. I have no idea what this means. In economics, "social benefits" refers to the benefit side of a social benefit/cost calculation; the increase...

Lump of Labour, Say's Law, and the slope of the AD curve

I wrote this for Sandwichman, and I wrote it because this same question crops up time and time again. It's a very old question, but it always looks like a new question if the technology is new enough. Take a...

Tax Policy for Canadians with Disabilities: A Reading List

The amount of research on tax policy for Canadians with disabilities is fairly limited. Moreover, a number of key publications (such as the 2004 Brown and Torjman report) are hard to find. Thus, for my own convenience, and that of.....

How much of a deficit will in fact be money-financed?

I want to do some very back-of-the-envelope calculations. (I will probably get the arithmetic wrong.) A bond-financed deficit is where the government prints bonds to finance a deficit. A money-financed deficit is where the government (or the central bank it...

"Involuntary" unemployment as worsening trade-off

This is what I think an increase in "involuntary" unemployment looks like: The vertical axis represents the quality of a job, in the eyes of someone searching (or simply waiting) for a job. "Quality" will presumably include wage, but many...

A Very Brief History of Demand and Supply

I’m teaching History of Economic Thought again this year and during my progression through the material this term what has struck me is the very long road over time –literally hundreds of years - to understanding markets and value a...

The Land Theory of Value

Last night I spoke with my Dutch ancestor again. Nick van Rowe told me about the Land Theory of Value, which began with the French, but was perfected by the Dutch. This is what he told me: Science has proved...

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