The demand for housing is analyzed within the context of an overall household expenditure system in which housing viewed as both a consumption good and an investment good. The risk associated with holding housing as an asset is given special attention. The expenditure system is estimated using...

This report has two purposes: (1) to introduce a new version of the MEDS (Models of the Economic Demographic System) software; and (2) to apply it in a series of illustrative projections. The software is designed to illustrate the medium- to longer-term responses of the Canadian population and...

A quadratic almost ideal demand system allowing for age, cohort, and trend effects is developed at the macro level. The model is estimated by maximum likelihood, using a three-tier iterative/search method applied to pooled 1961-1992 time series for five regions of Canada and six categories of...

A theoretical model is developed in which the market for teachers is linked to the time path of fertility in the general population. The model is simple in its components but when the components are combined they form a complex long-memory dynamic system. Simulation experiments are carried out...