Why did international capital flows rise to such heights in the late 19th century, the years between 1907 and 1913 in particular? Britain placed half of her annual savings abroad during those seven years, and 76 percent of it went to the New World countries of Canada, Australia, the USA,...

This paper has two goals. First, we discuss several emerging approaches to applied welfare analysis under non-standard ("behavioral") assumptions concerning consumer choice. This provides a foundation for Behavioral Public Economics. Second, we illustrate applications of these approaches by...

The Canadian Financial Diaries Research Project is a project which explores the financial health of low-and modest-middle income Canadians. Using the financial diaries methodology, this research looks at both the barriers and opportunities which can impact financial well-being. Both quantitative...

Using unique survey and administrative data from the Canada Student Loans Program, we document that parental support and personal savings substantially lower student loan repayment problems. We develop a theoretical model for studying student borrowing and repayment in the presence of risky...

We develop a generalisation of the World Bank (1994) model of forced saving for retirement. This broader model consists of two tiers of second pillar savings – mandated and non-mandated (voluntary). Furthermore, the government can set two types of guarantees on the first (mandated) tier –...

This paper uses National Balance Sheet data and defines households' savings as the change in net worth estimated at book and at market value. The study examines the evolution of households' savings and financing of assets in Canada over the past forty years, and takes into account a set of...