Research
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The Investment Supply Response of Traded-Goods Industries
In this paper, the author uses neoclassical investment equations to examine investment behaviour in four groups of Canadian industries: export-oriented, import-competing, two- way-trade, and low-trade. -
La non-neutralité du mode de financement du gouvernement
It has long been a subject of debate among economists as to whether different methods of financing government expenditures—issuing bonds or raising taxes—will bring about different effects on the economy. The purpose of this technical report is to quantify the substitution effects brought about by tax rate changes and to see to what extent they […] -
Asset Stocks and the Use of Monetary and Fiscal Policies to Reduce Inflation
This paper analyzes the dynamic behaviour of a country's economy under different policy regimes, by examining the cyclical effects that occur when certain intermediate macroeconomic targets are adopted. To highlight the differences in the adjustment paths that result, the study deliberately limits policy choice: either money supply or nominal income as targets, and either real […] -
Modelling Government Fiscal Behaviour in Canada
There are many models of fiscal policy in the economic literature and each has been based on a particular set of assumptions concerning the interaction of policy variables. However, even though these assumptions are critical to the behaviour of the models, there has as yet been no systematic attempt to test their validity or relative […]