Current trends in marriage and fertility patterns suggest that young Canadian women are delaying family formation and concentrating on developing their careers. It is a well documented fact that the acquisition of job-related skills and significant wage growth is concentrated at the start of...

This paper proposes a new paradigm for the analysis of monetary policy. From an econometric point of view this new approach is just as easy to implement as reduced form analysis, but is robust to the Lucas critique. It requires no explicit prior theory and yet it encompasses all standard DSGE...