This paper measures the changes in total tax incidence in Canada for selected years from 1951 to 1988. It presents the first set of time-consistent estimates of the effect of all Canadian taxes on the distribution of income in Canada. The methodology builds up a comprehensive measure of broad...

The paper evaluates the 1993 child tax benefit reforms using the Social Policy Simulation Model and Database (SPSD/M) developed by Statistics Canada. The paper argues that few of the benefits of the reform went to the poorest families. Instead, because of the interaction of the tax and benefit...

We investigate the relationship between venture capital (VC) networks and investment performance in China. Distinct features of China’s VC networks are captured in our econometric model through the inclusion of an index of network stability and a dummy variable that indicates a VC firm’s...

A theoretical framework is constructed to derive general conditions under which increased buyer power weakens or strengthens a supplier’s incentive to innovate. These conditions are then applied to two sets of specific models: one on product innovation and the other on process innovation. The...

This paper describes a DSGE model where the extensive margin of activity —the number of varieties available for consumption—, depends on micro-founded decisions of entry and exit in the goods market. Both the extended model and a more conventional version have been estimated with US data...

An emerging view of business cycles from the news-shock literature suggests that recessions may occur when agents depress their demand for new capital upon the realization that they have accumulated too much conditional on current information. In this paper I use a New Keynesian model with a...

In this paper we show that the abundance of a natural resource such as oil need not present a curse for the domestic economy, dooming the non-oil sector to secondary status and a long period of stagnation and decline. Rather oil revenues can themselves be source of economy wide growth. What is...

The objective of this paper is to investigate whether international rivalry will lead to a “race-to-the-bottom” (RTB) in labour standards. We derive the equilibrium levels of labour standards in an environment that is most conducive to a RTB, specifically the Brander and Spencer (1985) model...

This paper analyzes the persistence property of energy use in 107 countries around the world during 1971-2011 using different subsampling confidence intervals introduced by Romano and Wolf (2001). These confidence intervals are much more informative than the unit root tests and are more robust...