Business Cycle Council Communique – December 2017
The C.D. Howe Institute’s Business Cycle Council met on Wednesday December 13 to review its assessments of Canadian business cycle dates.
The C.D. Howe Institute Business Cycle Council, chaired by Steve Ambler, is an arbiter of business cycle dates in Canada. The Council meets on an annual basis, or as warranted when economic conditions indicate the possibility of entry to, or exit from, a recession. The Council also acts as a conduit for research aimed at developing a deeper understanding of how the economy evolves and to provide guidance to policymakers.
The Council defines a recession as a pronounced, persistent, and pervasive decline in aggregate economic activity. In deciding on the occurrence and timing…
Busby, Blomqvist – Draft Regulations For Drugs – A Mixed Bag (ii)
From: Colin Busby and Åke Blomqvist To: Canadian Drug Purchasers Date: December 12, 2017 Re: Draft Regulations for Drugs – A Mixed Bag (II) Lost in media reports regarding headline numbers of potential savings through the announced Patented Medicine Prices Review Board (PMPRB) reforms is the larger issue of whether the price paid reflects the […] Waiting for Stephen Poloz: A challenging 2018 lies ahead – Globe and Mail Op-Ed
As was widely expected, the Bank of Canada announced on Wednesday that it was not changing its target overnight rate. Despite the announcement reinforcing expectations, the emphasis on caution was enough to knock more than a half a cent off the value of the Canadian dollar before the end of Wednesday morning. With uncertainty on the horizon for 2018, the year promises to be a challenging one for our central bankers – one that will require market guidance.
The overall tone was balanced and the announcement emphasized caution. The global economy is in good shape with U.S. growth in the third quarter stronger than expected. Risks, however, remain in the form of geopolitics and trade. It also simultaneously warned that “higher rates…
Jeremy Kronick – The Unintended Consequences of Bail-in
To: Minister Bill Morneau and Superintendent Jeremy Rudin From: Jeremy Kronick Date: December 8, 2017 Re: The Unintended Consequences of Bail-in Bail-in is not nearly as well known a term or concept as its cousin, bailout. But the idea of requiring systemically important financial institutions – usually banks – to issue a special category of […]C.D. Howe Institute Appoints Former Rogers Svp As Senior Fellow
William Robson, President and CEO of the C.D. Howe Institute, announces the appointment of Kenneth Engelhart, former senior vice president of Rogers Communications, as a Senior Fellow at the Institute. “Ken brings a great combination of the telecommunications…Dolter and Rivers – Connecting Canada with New High-Voltage Direct Current Transmission Lines
To: Canadian electricity system planners and government leaders From: Brett Dolter and Nicholas Rivers Date: December 7, 2017 Re: Connecting Canada with New High-Voltage Direct Current Transmission Lines Canada has one of the cleanest electricity sectors in the world. In 2014, Canada generated 78.4 percent of its electricity using low-carbon technologies such as hydropower plants […] Business Tax Burdens in Canada’s Major Cities: The 2017 Report Card
The best and worst major cities for business investment are identified in a new report from the C.D. Howe Institute. In “Business Tax Burdens in Canada’s Major Cities: The 2017 Report Card” authors Adam Found and Peter Tomlinson compare business tax burdens in 10 Canadian cities, the largest in each province. Jon Johnson – Don’t Be Nervous. Take Charge
As NAFTA renegotiations proceed through the summer and fall, the C.D. Howe Institute Intelligence Memos will be looking at what to expect and provide analysis on the latest developments at the table. This post is part of that series. From: Jon Johnson To: Senator Jerry Moran (Republican-Kansas) Date: December 6, 2017 Re: Don’t Be Nervous. […] Dachis, Tombe – The Full Costs of Carbon Pricing to Households
To: Canadian Consumers and Taxpayers From: Benjamin Dachis and Trevor Tombe Date: December 5, 2017 Re: The Full Costs of Carbon Pricing to Households Governments across Canada are getting serious about putting a price on emissions of carbon dioxide, which is the most cost-effective way to reduce greenhouse gases. But each is taking a different approach […]