Youngmin Park - Latest
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Potential output and the neutral rate in Canada: 2022 reassessment
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%. -
Contribution of Human Capital Accumulation to Canadian Economic Growth
This paper quantifies the contribution of human capital accumulation to the growth of real gross domestic product (GDP) in Canada. -
Democratic Political Economy of Financial Regulation
We offer a theory of how inefficiently lax financial regulation could arise in a democratic society. -
Four Decades of Canadian Earnings Inequality and Dynamics Across Workers and Firms
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. -
Potential output and the neutral rate in Canada: 2021 update
We expect potential output growth to be higher than in the October 2020 reassessment. By 2024, growth will be slightly above its average growth from 2010 to 2019. We assess that the Canadian nominal neutral rate continues to lie in the range of 1.75 to 2.75 percent. -
Earnings Dynamics and Intergenerational Transmission of Skill
How are your past, current and future earnings related to those of your parents? We explore this by using 37 years of Canadian tax data on two generations. -
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Child Skill Production: Accounting for Parental and Market-Based Time and Goods Investments
Can daycare replace parents’ time spent with children? We explore this by using data on how parents spend time and money on children and how this spending is related to their child’s development. -
Potential Output in Canada: 2019 Reassessment
Potential output is expected to grow on average at 1.8 per cent over 2019–21 and at 1.9 per cent in 2022. While the contribution of trend labour input to potential output growth is expected to decrease between 2019 and 2022, the contribution of trend labour productivity is projected to increase.