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The present paper develops a model of exchange rate and price level determination as the simultaneous solution to goods and asset market equilibrium in conjunction with purchasing power parity. Exchange rate changes operate through income, wealth and substitution effects to have real...

The effect of an economy's growth on its balance of payments has been a subject which has received a good deal of attention in the recent literature in international economics. Much of this attention derives from general dissatisfaction with the theoretical and empirical aspects of the standard...

Canadian public-private mixed enterprises are examined in relation to two objectives the government may pursue: the provision of risk capital and the coordination of the technological development of an industry. There may be a role for a government in co-ordinating plans of an industry by...

The costs of capital and marginal tax rates are derived in a two period model with technical uncertainty for investments subject to imperfect loss offset corporate and personal taxation. Data based on the experience of Canadian corporations are used to estimate the present value of tax benefits...

Corporate taxation as a means of encouraging risk taking is not required in a stock market economy but would raise social welfare in "farm" economies. If lumpsum transfers are not feasible, a corporate tax should take into account distributional effects of taxing wealth, but, in a stock market...

Corporate tax reform in Canada is considered in relation to the recommendations made by the Carter Report twenty years ago. Carter's recommendations on corporate tax and integration is contrasted to the existing tax system and alternative corporate tax bases. Reform aimed at broadening the...