C.D. Howe Institute And Investment Management Corporation Of Ontario Partner On Internship Opportunities
The C.D. Howe Institute and Investment Management Corporation of Ontario (IMCO) have teamed up to provide six paid internships for… Bev Dahlby – On Fiscal Anchors
From: Bev Dahlby To: Canadian debt watchers Date: September 16, 2020 Re: On Fiscal Anchors Current low interest rates have led to complacency concerning government deficits and higher levels of public debt. However, the debt sustainability equation is only an accounting relationship and does not incorporate the economic impacts of increased borrowing. Even if the debt-to-GDP ratio is falling […] Helicopter money from the Bank of Canada is a bad idea – Financial Post Op-Ed
Looking for more tools that the Bank of Canada can use to help our COVID-stricken economy recover, some observers argue for “going direct,” having the Bank of Canada “print money” and deliver it directly to households as transfers. In our view, that is a bad idea.
Broadly speaking, the Bank of Canada can “go direct” in two ways. One is to transfer extra funds directly to the general public — a technique often described as a “helicopter drop.” Imagine squadrons of helicopters flying over the country dropping cash out their loading bays. In fact, neither helicopters nor, for the most part, cash would be involved: rather, the Bank of Canada would send people cheques or make direct deposits into their bank accounts — a one-for-one,…
S2 E15: The Need for Fiscal Anchors with John Manley and Janice MacKinnon
The C.D. Howe Institute’s Fiscal and Tax Working Group is urging Ottawa to recommit to the idea of fiscal sustainability. As former finance ministers John Manley and Janice MacKinnon tell host Michael Hainsworth, the federal government can’t do the heavy lifting of restarting the economy on its own. Kronick, Ambler – Parting Ways: The Bank Of Canada Holds Steady, The Fed Experiments
From: Jeremy M. Kronick and Steve Ambler To: Central bank watchers Date: September 15, 2020 Re: Parting Ways: The Bank of Canada Holds Steady, the Fed Experiments The two most recent announcements by the Bank of Canada and the US Fed are a study in contrasts. The Fed’s major shift in its monetary policy framework should be met with […] Paul Jenkins – The Long … And The Short Of Finding Equilibrium
From: Paul Jenkins To: Canada’s Economic Policymakers Date: September 11, 2020 Re: The Long … and the Short of Finding Equilibrium Macroeconomics is about optimizing long-run equilibrium conditions (e.g., full employment), and re-establishing those conditions as quickly as possible through short-run stabilization policies in response to unanticipated shocks. From this perspective, where are we today […] Jennifer Robson – Is This As Good As It Gets Until We Get Back To “normal”?
From: Jennifer Robson To: Canadians concerned about the recovery Date: September 11, 2020 Re: Is this as good as it gets until we get back to “normal”? Like most countries battling COVID-19, Canada went from the economic equivalent of a medically induced coma to a transitional phase. We have tried to regain as many economic […] Open Banking Holds Promise, Risks For Consumers
The path towards safe and secure implementation of open banking should be guided by three consumer-focused pillars, says a new report from the C.D. Howe Institute. In “Open Banking in Canada – The Path to Implementation,” authors Thorsten V. Koeppl and Jeremy Kronick…Open Banking in Canada – The Path to Implementation
Open Banking Holds Promise, Risks for Consumers The path towards safe and secure implementation of open banking should be guided by three consumer-focused pillars: generating value for consumers, building secure infrastructure for data sharing, and improving the regulatory framework to protect consumers. Authors Thorsten V. Koeppl and Jeremy Kronick lay out a roadmap to guide […] Ambler, Kronick – The GDP Story Is Not As Bleak As Reported
From: Jeremy Kronick and Steve Ambler To: Bank of Canada Watchers Date: September 10, 2020 Re: The GDP Story is Not as Bleak as Reported Statistics Canada released its initial estimate of second-quarter GDP last month. Output dropped by 11.5 percent compared with the first quarter and by a little more than 13 percent compared with the second quarter […] Morley Gunderson – Labour Policies For Novel Shocks Such As Covid-19
From: Morley Gunderson To: Canadian Policymakers Date: September 9, 2020 Re: Labour Policies for Novel Shocks such as COVID-19 Novel and one-off shocks like COVID-19 generally involve uncharted terrain with little or no precedence or evaluation studies to guide policymaking. Policymakers must decide quickly the balance between using existing policies with modifications (such as exemptions for eligibility and […] Guy Saint-jacques – Is Trade With China Still Worth It?
From: Guy Saint-Jacques To: Canadians Concerned About China Date: September 8, 2020 Re: Is Trade with China Still Worth it? The ongoing crisis with China is likely to continue for some time as the extradition process for Huawei CFO’s Meng Wanzhou could drag on for years. Apart from having two Canadians detained as hostages and four on death […]