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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:1004
Posts / Week:6.3
Archived Since:April 1, 2011

Blog Post Archive

Secular stagnation and the end of retirement?

Retirement is weird, when you think about it. We consume small amounts of leisure for most of our lives, then suddenly stop working completely and consume a big bunch of leisure for the rest of our lives. We smooth our...

Exchange Rates and Gasoline Prices?

Well the price of gasoline just spiked upwards across Canada and the usual media analysis has begun. Five key reasons were summarized as follows by Shawn McCarthy in the Globe and Mail: 1) Approach of the summer driving season leading...

Monetary monarchy

Speculative musings, from an inadequate historical background. We tend to take it for granted that the world looks like this, from a monetary perspective: The world is divided into currency areas. Each currency area has one alpha bank (the king)....

On forgetting land in models of secular stagnation

If I see one more model of secular stagnation and negative equilibrium real interest rates, that does not include land....I'm going to throw a real wobbly. What is it with you townies? Have you never looked out of the window,...

Health System Efficiency: Saving Money Can Save Lives Too

It turns out that having a more efficient health care system is not just about sustainability or bean counting – it also can save lives. A new study by the Canadian Institute for Health Information tries to measure the efficiency...

Shadow banking as required reserve tax avoidance?

This is speculative. I don't know whether it works empirically. Or, I should say, I don't know how much it works empirically. The effect I am talking about here might be large, and explain almost everything. Or it might be...

Deflationary banks

It's good to think about weird worlds, which you know are totally different from the real world. It helps you understand the real world better. Here is a weird world where commercial banks' wanting to expand loans and deposits would...

Temporary vs permanent money multipliers

"Otherwise what I was mostly trying to suggest was that the banks anticipate the fact that the central bank won't let them double the supply of money and factor this into their loan and deposit pricing. The idea is that...

What is a "managed exchange rate"?

It's a relative thing. I think it can only be defined relative to some specified alternative, like inflation targeting. It doesn't mean anything otherwise. There are n different things a central bank could target, where n is an extremely large...

Differentiating Ontario Universities

Yes, it is April 1st but this post is dead serious. A study was recently done for economics, chemistry and philosophy departments across ten Ontario universities in an effort to gain insight on teaching workloads and research productivity. The reason?...

Two first year multipliers: their truth, beauty, and usefulness

Alone again or, just me and the money multiplier, against the world of trendy sophisticates who have put aside such childish things. It brings out the reactionary contrarian in me. And the world needs more reactionary contrarians, to help provide...

Police, Crime and the Great Canadian Crime Drop

It would appear fiscal restraint has finally caught up with police services across the country. The recent release of Police Resources in Canada, 2013 by Statistics Canada documents a decline in police strength after nearly a decade of increases as...

There can be an excess supply of commercial bank money

Commercial banks are typically beta banks, and central banks are typically alpha banks. Beta banks promise to convert their money into the money of alpha banks at a fixed exchange rate. Alpha banks make no such promise the other way...

Liquidity pile-ups on the Wicksellian roundabout

I'm trying to model something, and failing miserably. So I'm going to try to articulate my vision, hoping for inspiration. Imagine a large number of cars forever circling around a very large roundabout. Initially they are all going the same...

Alpha banks, beta banks, fixed exchange rates, market shares, and the money multiplier

Forget money and banking for a minute. Let's think about international macroeconomics. Just suppose the US Fed, for reasons unknown, pegged the exchange rate of the US dollar to the Canadian dollar. The Fed makes a promise to ensure the...

Why do beginner econometricians get worked up about the wrong things?

People make elementary errors when they run a regression for the first time. They inadvertently drop large numbers of observations by including a variable, such as spouse's hours of work, which is missing for over half their sample. They include...

Resources, Revenues and Alberta Premiers: The Oil Must Flow!

In Ancient Rome, a key imperial duty was to maintain the flow of grain and gladiatorial entertainment to the masses of Rome. Woe to the Emperor if the flow of grain was interrupted and the entertainment fell in quality. The...

Two LM curves

Sometimes we borrow money from the bank because we plan to spend more than we expect to get in income. And sometimes we borrow money from the bank because our stock of money is too small relative to our flows...

Discriminating custom essay services

The most fascinating part of custom essay writing websites are the price sheets. The market is international, and - judging from the number of such sites - highly competitive. For an undergraduate essay with a 5 to 6 day deadline,.....

The sense in which the stock of money is "supply-determined"

Consider three positions: 1. The stock of money is determined by the demand for money, and not by the supply of money. 2. The stock of money is determined both by the demand for money and by the supply of...

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