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Pages tagged "Andrew Jackson"


Financial markets signalling stagnation

Posted on News & Blogs by Andrew Jackson · April 04, 2015 3:27 AM

market-imosaad.jpgWhich gives us a better picture of where the economy is headed -- near record low interest rates on government bonds or a stock market that is not far below record highs? 

In Canada as well as the United States, bond yields are just above record lows. The interest rate on 10-year Government of Canada bonds is about 1.4%, meaning that investors are prepared to lock in their money for 10 years for a return well below the official 2% inflation rate target. 

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Canadian economy suffers from myth of comparative advantage

Posted on News & Blogs by Andrew Jackson · March 07, 2015 3:00 AM

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Economists love to talk about the theory of comparative advantage, which holds (somewhat counter intuitively) that two countries trading with each other will be better off if each specializes in what it does best, even if one country has an absolute competitive advantage in the production of all goods and services traded.

David Ricardo famously argued that it made sense for England to specialize in the production of cloth and Portugal that of wine, even though Portugal could produce both goods more cheaply.

Unfortunately, the theory has limited application to the real world, and can have pernicious policy consequences.

article originally appeared in the Globe and Mail's Economy Lab.

Photo: teegardin. Used under a Creative Commons license BY-SA-2.0

- See more at: http://www.broadbentinstitute.ca/en/blog/unbalanced-thinking-behind-bala...
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The Unbalanced Thinking Behind A Balanced Budget Law

Posted on News & Blogs by Andrew Jackson · February 21, 2015 4:00 AM

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The Harper government claims to be paragons of fiscal virtue. They have pledged to balance the federal budget this year, notwithstanding a slowing economy, and are likely set to announce details of  the balanced budget legislation promised in the 2013 Speech from the Throne. 

The promised legislation will disallow annual deficits in “normal economic times” (whatever they are) and “set concrete targets for returning to balance in the event of an economic crisis.” 

 

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Budget 2015: It is Time to Invest, Not Cut

Posted on News & Blogs by Andrew Jackson · February 07, 2015 10:03 AM

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In the run-up to the delayed federal budget, there is a strange disconnect between fiscal policy and our changing economic circumstances. Balancing the budget seems to remain the key political priority, as if nothing had changed.

But the collapse of oil and other resource prices has changed a lot. Most notably, the Bank of Canada has, unexpectedly, cut interest rates to take out “insurance” against a serious slump in our resource-dependent economy. TD Economics forecast slow growth of just 2.0% this year, and have projected that unemployment will rise by 0.2 percentage points in the next few months.

Meanwhile, Prime Minister Stephen Harper has said that he will not run a deficit unless and until Canada falls into an outright recession, something we would know only in hindsight.

This article originally appeared in the Globe and Mail's Economy Lab. - See more at: http://www.broadbentinstitute.ca/en/blog/demonized-industrial-policy-put...
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Demonized industrial policy puts corporate tax cuts to shame

Posted on News & Blogs by Andrew Jackson · January 24, 2015 4:00 AM

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The words “industrial policy” have been virtually banned from polite company, and should certainly never be uttered in the presence of small and impressionable children.

Many mainstream economists and conservative think-tanks believe that governments should seek only to create a favourable business climate through low taxes and light regulation, and should not intervene in the investment decisions of private corporations.

And yet, industrial policy (which should be called strategic economic policy) persists, and arguably has a greater impact on investment and jobs than broad framework policies like deep corporate tax cuts.

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Hamilton workers’ wages shrinking, think tank says

Posted on In the News by NationBuilder Support · January 22, 2015 9:00 AM

Hamilton Spectator

New research shows that workers across most of Ontario - including Hamilton - are becoming poorer, despite rising income levels across much of Canada.

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B.C. income growth worst in Canada: analysis

Posted on In the News by NationBuilder Support · January 22, 2015 9:00 AM

Peter O'Neil / Vancouver Sun

OTTAWA — B.C. experienced the worst income growth — in fact, incomes declined — of any province in Canada during the 2006-12 period, according to an analysis of Statistics Canada data by an Ottawa think-tank.

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Toronto, Vancouver Among Cities Seeing Falling Wages

Posted on In the News by NationBuilder Support · January 22, 2015 7:59 AM

Daniel Tencer / Huffington Post Canada

You’ve probably read stories about how Canada’s wage growth is nothing to write home about, but new research from the Broadbent Institute adds a surprising dimension to the story: No fewer than 15 of Canada’s 32 largest metro areas saw incomes slide during 2006-2012.

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Employment income since 2006: who gained and who lost

Posted on News & Blogs by Andrew Jackson · January 22, 2015 3:00 AM

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The Harper government claims to be good economic managers pursuing a successful jobs and growth agenda.

To be sure, there are many factors other than federal government policy that strongly influence Canadian jobs and incomes, such as resource prices, business decisions, the state of the United States and the global economy, and the actions of provincial governments. No federal government can take all or even most of the credit or blame for how our economy is doing.

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Toronto workers’ wages shrinking in contrast to other provinces, think tank says

Posted on In the News by NationBuilder Support · January 21, 2015 9:00 AM

Sara Mojtehedzadeh / The Toronto Star

Lynn Beamish knows the value of a steady income. As an advisor in the financial services sector, she sees many of the city’s workers struggling to make ends meet.

Read more

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