This paper examines the monetary growth implications of combining Stockman's cash-in-advance constraint on consumption and capital goods and an endogenous rate of time preference that is an increasing function of real wealth. The cash-in-advance constraint imposes an investment tax that reduces...

In a game of endogenous trade agreements, we examine whether the pursuit of free trade agreements (FTAs) affects the prospects of global free trade differently than the pursuit of customs unions (CUs). Our analysis is driven by a fundamental difference between these two types of preferential...

The economic advantage of constructing and operating large-scale landfills over small-scale landfills has been used to justify regional landfills as a solution to the municipal waste disposal problem. In addition to the dampening effects on social efforts to divert waste away from landfills,...

Applications of behavioural insights (BI) are increasingly being used in social and economic contexts by both public and private actors, and particularly in highly developed countries like Canada. These applications aim to use an understanding of human decision-making informed by key findings in...

In the context of a three-stage model with consumers differing in their health insurance coverage, the paper shows that there exist conditions under which the price of brand-name drugs increases following the entry of generic drugs.

Although 72% of the earth surface is covered by water, less than 1% of the world’s fresh water is directly accessible for human uses. Given humans’ water consumption patterns and the world population growth rate, these fresh water reserves have been shrinking all over the world at an...