Using the 2006 Canadian Census, this paper investigates the lower return to immigrants’ foreign education credentials after adjusting for their occupational matching in hosting labor markets. We develop two continuous indices that quantify the matching quality of the native-born in both...

As the number of cases increases globally, governments and authorities have continued to use mobility restrictions that were, and still are, the only effective tool to control for the viral transmission. Yet, the relationship between public orders and behavioral parameters of social distancing...

This paper examines the distributional characteristics of parametric reforms carried out when a planner faces an unexpected adverse shock to the pay-as-you-go system. When transfers are used to balance the system, we show that, even if the planner chooses a Ponzi scheme in the face of permanent...

Because of the dynamic inconsistency problem in optimal policies of pay-as-you-go (PAYG) systems, parametric reforms tend to be unfair in terms of generational justice and could be inefficient in terms of optimal level of consumption. As long as there are adverse shocks, the planner has to...

As it evolves around the world, Social Security financed on pay-as-you-go (PAYG) basis increasingly becomes a Ponzi scheme due to aging populations. The main objective of Social Security is to insure seniors against an uncertain life span. However, as the probability of being a net loser rises...

Because of the several shortcomings of aggregate time-series investigations, cross-section studies outnumber the time-series analyses on the relationship between saving and Social Security. This study is the first of its kind for an emerging country that examines the subject at two major points:...

A growing wage gap between immigrant and native-born workers is well documented and is a fundamental policy issue in Canada. It is quite possible that wage differences, commonly attributed to the lower quality of foreign credentials or the deficiency in the accreditation of these credentials,...

Most studies investigating the poor earnings performance of immigrants implicitly assume that human capital endowments determine actual earnings, and that immigrant-nativeborn wage gaps can be analyzed in terms of those earnings. In this study we claim that this assumption is not validated by...