By Nora Ottenhof, JDI undergraduate research assistant
The 2017 Canadian Public Economic Group Meeting (CPEG2017) will take place on the Queen’s University campus in Kingston on November 2 – 4. This year’s meetings are being hosted by the John Deutsch Institute (JDI) and the Department of Economics. “We are very excited for the conference, which will feature presentations by some of the leading public economists in Canada,” said Dr. Christopher Cotton, the conference organizer and the Director of the JDI.
For more information on the conference, see the CPEG website.
Here, I review a handful of the papers that will be presented and discussed during this year’s conference.Read More »
Licensed medical cannabis use in Canada has grown considerably in the last two years. From Health Canada’s website, we can measure the size of this market over a period of more than two years (Q1 2015 – Q1 2017). Figure 1 shows the growth in both the dried and oil cannabis.
Not only are sales of dry marijuana growing (just under 6000 kgs in Q1 2017) but the inventories are increasing at an even faster rate (currently over 18,000 kgs). Oil cannabis has had a steady increase as well over the period it has been recorded (starting in Q4 2015).Read More »
JDI Student Fellow Stephen Snudden offers his insights into the internationally coordinated effort to combat the Great Recession following the collapse of Lehman Brothers in 2008. At the time he was a Research Assistant at the Bank of Canada and has also served as a Project Officer for the International Monetary Fund. He is currently a PhD Candidate and in the Department of Economics at Queen’s University.
It was October 7th 2008. Lehman Brothers had just collapsed in mid-September and seemingly taken the global economy with it. Markets were in hysteria. We needed to figure out what to do quickly.Read More »
Arguably one of the greatest accomplishments to come out of the Queen’s University Economics Department has been John M. Hartwick’s 1977 publication, “Intergenerational Equity and Investing Rents from Exhaustible Resources,” known today as the Hartwick Rule. Since its conception nearly forty years ago, the Hartwick Rule has gone on to become a pillar of sustainability economics, forever changing the way we think about the concept of sustainability. The Hartwick Rule has influenced everything from environmental sciences to public policy, and will undoubtedly continue to have a profound impact moving forward.Read More »
By Allen Head & Huw Lloyd-Ellis, Queen’s University
Building on the research behind a recent article in the Canadian Journal of Economics (Head and Lloyd-Ellis, 2016), we develop an economic model of housing markets and use it to rank Canadian cities based on the percentage difference between predictions and real world prices. This gives us the following excess valuations by year.
Table: Excess Valuations (% deviation from 1984-1998 average)
The Blockchain revolution is here. And, in many ways, it is like the Internet was when it started 20 years ago. We did not know how we would be affected, but we all had a feeling that this is going to be big. After watching a movie classic — the “Terminator” — I realized that three questions stand out when gauging the potential of Blockchain and Distributed Ledger Technology more broadly.
How big are the cost savings?
Is there a need for privacy?
Can we rely on independent, safe and smart communication between IT systems?
By Frank Lewis, Professor Emeritus, Department of Economics, Queen’s University
A chambermaid in Canada has a wage more than twice that of a chambermaid in South Korea; a pharmacist earns four times what a pharmacist in India earns; and a registered nurse receives six times the earnings of a registered nurse in the Philippines. These approximate purchasing-power-parity comparisons typify the large wage gaps between Canada and many other countries; and lead to the question: why doesn’t the chambermaid in South Korea, the pharmacist in India, and the registered nurse in the Philippines move to Canada? Read More »
Yesterday, The New York Times published an article explaining why it is would be more efficient if the social norm involved everyone standing when riding escalators. The current norm in many countries involve those on the right standing, while leaving the left side of the escalators for walkers. The NYTs argues that we’d be better off as a society if both sides were used by standers alone.Read More »
Monetary policy may focus on price level targeting (PLT) or inflation targeting (IT). The distinction between the two frameworks is that under IT, the central bank does not respond to temporary deviation of prices from trend. Bygones are bygones. In contrast, with PLT, past inflation performance matters and past deviations must be undone to restore the price level to the target path.Read More »