Alexandre Laurin – The Good, the Bad and the Bottom Line
To: The Hon. Bill Morneau, Minister of Finance From: Alexandre Laurin Date: March 25, 2019 Re: Federal Budget 2019: The Good, the Bad and the Bottom Line Even though Budget 2019 contains no sizeable flagship initiative, its orientation is clear: to appeal to as many as possible by multiplying targeted measures aimed mostly at seniors and millennials, while continuing […] Next-Gen Financial Advice: Digital Innovation and Canada’s Policymakers
The next generation of financial advice requires sweeping change as advisors and regulators adapt to a digital future, according to a new report from the C.D. Howe Institute. In “Next-Gen Financial Advice: Digital Innovation and Canada’s Policymakers” author Chuck Grace recommends policymakers get out ahead of the coming transformation in financial advice by clearing regulatory […] Jeremy M. Kronick – What to do about housing?
To: The Hon. Bill Morneau, Minister of Finance From: Jeremy M. Kronick Date: March 13, 2019 Re: What to do about housing? With the budget fast approaching, your department is under pressure to address housing affordability in Canada. The conundrum for you, or any policymaker trying to address affordability, is that in seeking to make […] Entrepreneurial Finance and Economic Growth: A Canadian Overview
The competitiveness of Canadian firms is being hampered by tax policies that discriminate against and penalize companies as they seek equity to fuel growth, says a new report from the C.D. Howe Institute. In “Entrepreneurial Finance and Economic Growth: A Canadian Overview,” author Pierre Lortie examines the dynamics of Canadian private and public equity capital […] Hold The Panic: Maybe Canadians Aren’t Facing A Debt Insolvency Crisis After All – Financial Post Op-ed
For much of the last decade, Canadians have been told their debt levels were unsustainable and that their day of reckoning was fast approaching. Data recently released by the Office of the Superintendent of Bankruptcy (OSB) seem to indicate that day has arrived. According to the data, insolvencies by Canadian consumers were up 9.2 per cent in October 2018, compared to a year earlier.
To say the least, these results appear alarming. But in light of what we know about homeownership and net worth, we are not so sure. The data show that Canadians’ net worth has never been higher. Moreover, the data do not distinguish between the more harmful economic effects from households in negative net asset positions, or balance sheet…
Managing Uncertainty: The Search for a Golden Discount-Rate Rule for Defined-Benefit Pensions
Public-Sector pensions are using risky projections to calculate their future liabilities, according to a new report from the C.D. Howe Institute. In “Managing Uncertainty: The Search for a Golden Discount-Rate Rule for Defined-Benefit Pensions,” authors Stuart Landon and Constance Smith find that many pension plans use high discount rates that increase the risk they will […] Koeppl, Kronick – How to Regulate Initial Coin Offerings
From: Thorsten Koeppl and Jeremy M. Kronick To: Canadian Securities Regulators Date: December 19, 2018 Re: How to Regulate Initial Coin Offerings Given the boom in, and media attention surrounding, Initial Coin Offerings (ICOs), one relevant question is whether this new type of financing fills a market gap in the financial sector, or is just a way of defrauding […] Initial coin offerings could provide badly needed financing for Canadian startups – Globe and Mail Op-Ed
The momentum around initial coin offerings (ICOs) continues to build. Since 2016, when less than US$100-million in ICOs was issued, more than $20-billion in capital has been raised. By the end of 2017, ICO funding originating in Canada totalled $175-million, good for eighth worldwide.
Naturally, skepticism of such a bonanza abounds. This is perhaps especially true when we talk about cryptocurrencies that, in and of themselves, have no value and seem ripe for fraud. However, despite these valid concerns, in a recent C.D. Howe Institute commentary, we argue that ICOs do indeed fill a market gap, under limited circumstances. What is critical for regulators and investors is determining these circumstances.
ICOs are a form…
Jeremy Kronick on BNN – Bank of Canada should better track money supply
A new book is calling on the Bank of Canada to better track money supply as part of its inflation forecasting. For more on this, BNN Bloomberg spoke with Jeremy Kronick, associate director at C.D. Howe Institute and author of “Navigating Turbulence: Canadian Monetary Policy since 2004.”
Jeremy Kronick on BNN – Crypto coin trade needs regulation
Jeremy Kronick, Associate Director of Research at the C.D. Howe Institute, talks about the need for regulation in the crypto coin trade.
Tales from the Crypt – How to Regulate Initial Coin Offerings
Initial Coin Offerings (ICOs) fill an essential gap in funding for entrepreneurs with limited access to other forms of capital, but a new report from the C.D. Howe Institute says smart guidelines are needed to get the balance right between investor protection and innovation. Jeremy M. Kronick – Improving the Financial Services Sector
Federal budgets are an annual rite of spring in Ottawa, as is the deluge of advice to the Department of Finance. But budget-making is a yearlong process, and the work is now in progress. Accordingly, the C.D. Howe Institute is presenting a series of Intelligence Memos in the next few weeks, outlining recommendations that we […]