The Canadian corporate bond market has experienced a renaissance, in recent years, against a background of low inflation, reduced public borrowing, and the lowest levels of long-term interest rates in a generation. The authors examine the influences shaping the market and also compare the...

Using duality theory under rationing, the authors derive a measure of the aggr egate welfare cost of cyclical unemployment, which takes into account the value of additional nonmarket activities promoted by unemploymen t. This measure is then applied to the Quebec economy, using benchmar k...