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Archive for 'fiscal policy'

February Labour Force Woes

The unemployment rate is up again this month, to 7.3%, with 1.4 million workers looking for jobs in February. A loss of full-time work was partly replaced by part time positions. A disproportionate percentage of last year’s growth came from precarious self-employment. Remember those heady days when we could say that at least Canada’s unemployment rate […]

The 2016 Federal Budget

Here is a link to the Broadbent Institute pre Budget Submission, trying to push the Liberal platform in a more progressive and social democratic direction. http://www.broadbentinstitute.ca/budget_2016_charting_progressive_agenda  

Boosting the economy for the rest of us

Elites and the talking heads in the media are arguing about how to respond to Canada’s soured economic outlook. Who should try to boost the economy, the federal government via fiscal stimulus or the Bank of Canada via monetary policy? But while elites argue amongst themselves, the overriding context is a transfer and concentration of […]

Dix choses à savoir sur les défis associés avec mettre fin à l’itinérance au Canada

Le 18 novembre, j’ai fait une présentation sur les défis en ce qui concerne « mettre fin à l’itinérance » au Canada au 7 Cities Leadership Summit à Edmonton. Ma présentation, illustrée de diapositives, peut être téléchargée ici. Voici dix choses à savoir en tant que défis concernant « mettre fin à l’itinérance » au Canada. […]

Ten Things to Know About the Challenges of Ending Homelessness in Canada

On November 18, I gave a presentation on “ending homelessness” at the 7 Cities Leadership Summit in Edmonton. My PowerPoint slides can be downloaded here. Here are ten things to know about “ending homelessness” in Canada: 1. In 2008, Calgary became the first Canadian municipality to publicly commit to “ending homelessness.” More than a dozen […]

Ten Things to Know About Homelessness in Canada

This afternoon I gave a presentation at Raising the Roof’s Child & Family Homelessness Stakeholder Summit in Toronto. My slide deck can be downloaded here. To accompany the presentation, I’ve prepared the following list of “Ten Things to Know About Homelessness in Canada.” 1.Efforts to enumerate persons experiencing homeless have generally been spotty, but it […]

Dix Choses à Savoir sur l’Itinérance au Canada

Cet après-midi, j’ai fait une présentation au Child & Family Homelessness Stakeholder Summit, organisé par Chez Toit, à Toronto. Ma presentation, illustrée de diapositives, peut être téléchargée ici. Pour accompagner la présentation, je vous ai préparé la liste suivante: « Dix choses à savoir sur l’itinérance au Canada. » 1. Les tentatives de dénombrer les […]

Mr. Harper’s recession

Mr. Harper’s recession Louis-Philippe Rochon Associate professor of economics, Laurentian University Co-Editor, Review of Keynesian Economics   Short of a miracle, Canada is officially in recession, which I predicted back in January. But this recession was wholly avoidable had Mr. Harper and his government abandoned their wicked policies of austerity in favour of a growth-oriented […]

The Austerity Trap

Louis-Philippe Rochon is associate professor of economics at Laurentian University and co-editor of the Review of Keynesian Economics. Originally published by CBC.  See here. In its April budget, the federal government announced it had succeeded in balancing the budget. Such an achievement, however, will prove to be at best a Pyrrhic victory. History shows austerity […]

Bank of Canada Holds Rate Steady

The Bank of Canada released it’s quarterly Monetary Report today, and held rates firm at 3/4 per cent. The Bank cut growth expectations for 2015, but expects Canada’s GDP to rebound in 2016. Much of this rebound will depend on a growing U.S. and global economy, and on the ability of Canadian exporters to capture a bigger […]

ROCHON on balanced budgets

Balanced budget legislation will be disastrous for Canada Louis-Philippe Rochon Associate Professor of Economics, Laurentian University Co-Editor, Review of Keynesian Economics Twitter @LPROCHON   Finance Minister Joe Oliver’s latest muses about introducing balanced budget legislation is the worst policy for Canada, and will doom us to European-style crises and rob future generations of prosperity. While […]

ROCHON on the upcoming federal budget (April 2015)

THE FEDERAL BUDGET AND CANADA’S ANNUS HORRIBILIS See Original post here for the CBC. Canada’s Finance Minister Joe Oliver announced a new – and long overdue – federal budget for April 21. With the Canadian economy doing so badly, this budget will be crucial. Will the minister do the right thing and give Canadians a […]

Harper Conservatives vs the IMF on Deficits

Here is an extract from my column on balanced budgets in the Globe ROB today. “When it comes to balancing the books, the Harper government is seemingly more Catholic than the Pope. Even the International Monetary Fund (IMF), hardly big fans of high government spending, argue in their latest Country Report released in January that […]

G20 meeting of world finance ministers too little too late

Posted earlier as an opinion piece for CBC.  See original post here (this post slightly modified from original) By Louis-Philippe Rochon Follow him on Twitter @Lprochon   Much was at stake earlier this week when finance ministers from G20 countries met in Istanbul to discuss Greece and the state of the world economy in light of recent […]

Rochon Asks: “Is the Canadian economy unraveling?”

In a recent CBC blog post, Louis-Philippe Rochon assesses the current state of the Canadian economy. The link to the blog post is here. Follow him on Twitter @Lprochon.

Louis-Philippe Rochon’s Top 10 Economic Predictions for 2015

Louis-Philippe Rochon has written a provocative blog post for the CBC titled “Top 10 Economic Predictions for 2015.” The post is available here.

Bank of Canada, Exports, and LMI

Much has been made about Stephen Poloz’s decision to abandon ‘forward guidance’ in Bank of Canada rate setting announcements for the time being. Critics bemoan the loss of direction from the Bank. But Poloz’s comments yesterday were chock full of guidance on how the Bank sees Canada’s economic situation. Having been disappointed by the failure […]

More on Secular Stagnation

Here is the link to a piece I wrote for the Globe on line this week re an interesting new eBook on secular stagnation.  I am struck by the fact that several eminently mainstream economists, mainly in the US but also Blanchard at the IMF,  see a need for public investment to drive growth, given […]

What Have we Learned From the Financial Crisis? Part 4: Bernard Vallageas

What follows are comments from a roundtable discussion held at the University of Ottawa on February 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. This is Part 4 of 5 sequential blog entries. – Bernard Vallageas Vice-président de l’Association pour le Développement des Etudes Keynésiennes […]

What Have we Learned From the Financial Crisis? Part 3: Mario Seccareccia

What follows are comments from a roundtable discussion held at the University of Ottawa on February 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. This is Part 3 of 5 sequential blog entries. – Mario Seccareccia Professor of Economics, University of Ottawa Editor, International […]

What Have we Learned From the Financial Crisis? Part 2: Louis-Philippe Rochon

What follows are comments from a roundtable discussion held at the University of Ottawa on February 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. This is Part 2 of 5 sequential blog entries. – Louis-Philippe Rochon Associate Professor of Economics, Laurentian University Founding co-editor, […]

What Have we Learned From the Financial Crisis? Part 1: Marc Lavoie

What follows are comments from a roundtable discussion held at the University of Ottawa on February 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. Parts 2, 3, 4 and 5 will follow in subsequent blog posts. – Marc Lavoie Professor of Economics, University of Ottawa […]

Missing In Action: Federal Budget 2014

Here’s the first section of the budget summary and analysis I’ve prepared for CUPE. The full version is on-line on CUPE’s website at http://cupe.ca/economics/missing-action-federal-budget-2014 together with CUPE’s press release at: http://cupe.ca/economics/federal-budget-2014-help-hurt-canadian Missing In Action: Federal Budget 2014  CUPE Federal Budget 2014 Summary and Response   Conservatives ignore pressing economic needs with a Do-little budget Using more […]

Economists Against Austerity

UPDATE (Feb. 12): Carol Goar reports this statement on page A17 of today’s Toronto Star. To add your signature to it, please e-mail your name, title and institution to Mario Seccareccia at mseccare@uottawa.ca Statement by 70 Canadian Economists Against Austerity We, the undersigned, strongly urge the federal government to stop implementing fiscal austerity measures just to […]

The IMF and Canadian Fiscal Policy

This is quite interesting. If you read the short section from the recent IMF Staff Report on Canada under point 16, it is quite clear that the IMF Staff think that, with growth significantly under potential, the federal Budget should be brought back to balance more slowly than is now the plan. It strikes me […]

Secular Stagnation

I have written a couple of pieces for Economy Lab in the Globe and Mail recently on the issue of secular stagnation. (Links below) The term was coined by the pioneering American Keynesian Alvin Hansen who argued that the US economy of the late 1930s faced a long period of stagnation due to a chronic, […]

A Trillion Dollar Coin for Canada?

Arun here…breaking radio silence to share with you a thought-provoking piece by Larry Kazdan, a graduate of York University in sociology and history, and currently a Council Member with the World Federalist Movement-Canada, an organization that monitors developments at the United Nations and advocates for more effective global governance. Our friend and fellow blogger Keith […]

How Harper can avoid turning a Budget Implementation Bill into a Duffy budget bill

On November 25th, I made the following submission to the House of Commons Standing Committee on Finance regarding Bill C-4, Economic Action Plan 2013 Act No. 2, on behalf of the Canadian Centre for Policy Alternatives.    1.     Introduction and Context Thank you for the invitation to appear before the Committee, as Members of Parliament […]

Why Is Tom Mulcair Opposed to Tax Increases?

A recent online article suggests that Federal NDP Leader Thomas Mulcair is opposed to increasing federal tax rates. I find this quite surprising. According to the August 8 article: Mulcair seemed surprised when he was asked if taxes would go up under an NDP government. “You’re the first person who’s ever asked me that,” he […]

Funding Cuts to Alberta’s PSE Sector: There Are Alternatives

It has recently been reported that the University of Alberta wants to “reopen two-year collective agreements” with faculty and staff “to help the university balance its budget…” This appears to be in direct response to Alberta’s provincial government announcing in its March budget that there would be a “7% cut to operating grants to universities, […]