During the past decade, a considerable amount of econometric research has been devoted to the explanation of movements in wages. Most empirical studies have used a basic disequilibrium model, first suggested by Philips, in which the change in money wage rates is related to the level of...

This paper analyzes the relationship between the current account deficit in Canada and the public sector deficit. The hypothesis that the public sector deficit is a major determinant of the current account deficit in the U.K. has become known as the New Cambridge approach to the balance of...

This paper clarifies some issues involved in choosing monetary instruments by the Bank of Canada. The analysis generalizes Poole's model and considers the effect on income stability of controlling the interest rate, bank reserves or the exchange rate. The conclusions support using the interest...

This paper examines how changes in immigration policy levers actually affect the skill characteristics of immigrant arrivals using a unique Canadian immigrant landings database. We first review the Canadian experience with a point system as part of its immigrant policy. Section III of the paper...