Youngmin Park is a Principal Researcher in the Canadian Economic Analysis (CEA) department. His research interests include macroeconomics, public finance, and labour economics. He received his Ph.D. in Economics from the University of Western Ontario.
When estimating earnings losses upon job separations, existing strategies focus on separations in mass layoffs to distinguish involuntary separations from voluntary separations. We revisit the measurement of the sources and consequences of involuntary job separations using Canadian job separation records.
We expect that potential output growth will rebound from 1.4% in 2022 to 2.2% on average between 2023 and 2026. We revised down our estimates of growth over 2022–25 relative to the April 2022 assessment. The Canadian nominal neutral rate remains unchanged—in the range of 2% to 3%.
We expect potential output growth to be lower in 2021 than anticipated in the April 2021 assessment. By 2025, growth is expected to reach 2.3%. We assess that the Canadian nominal neutral rate increased slightly to lie in the range of 2.00% to 3.00%.
We use four decades of Canadian matched employer-employee data to explore how inequality and the dynamics of individual earnings have evolved over time in Canada. We also examine how the earnings growth of individuals is related to the growth of their employers.
More education typically leads to higher pay, but as more people become educated, wages can decrease. Your education choices significantly affect your future earning potential.
“Child Skill Production: Accounting for Parental and Market-Based Time and Goods Investments” (with Elizabeth Caucutt, Joseph Mullins and Lance Lochner), Journal of Political Economy, accepted.
“Democratic Political Economy of Financial Regulation” (with Igor Livshits), International Economic Review, accepted.
