Author Archives: wciecon
Gross Domestic Income in Canada, 1947-2018
The latest update of Project Link includes estimates for national accounts income measures: Gross National Income (formerly known as Gross National Product), Net National Income, compensation of employees, and disposable income, all going back to 1947Q1. I've also added Gross Domestic Income. GDI is a fairly recent arrival in the national accounts, and it takes […]
The macroeconomics of Stanley Cup dynasties
This post was written by Davin Raiha at the Ivey Business School. As the NHL playoffs inch closer to the Stanley Cup, it is an appropriate time to reflect on how economic conditions and forces have impacted competition within the NHL over the past few season. A few seasons ago – specifically during the 2015 […]
A very simple model of too much city
100 identical individuals choose to live in one of two identical locations. The only thing they care about is how many people live in the same location. Let W individuals choose to live in the West, so 100-W choose to live in the East. The Utility of living in the West is U(W), and the […]
Addressing Ontario’s Fiscal Challenges
While 2017-18 saw a surplus of $642 million after years of deficits, the 2018-19 Ontario budget now projects a deficit of $6.7 billion and a net provincial debt of $325 billion with deficits projected to continue for five years afterwards. If one considers the recent report of the Auditor-General, then Ontario’s deficit may be even […]
Some basic facts about the distribution of sex
The Canadian Community Health Survey is an annual voluntary survey, carried out by Statistics Canada, that collects information about a wide range of health outcomes and risk factors. As part of the 2013-14 survey, 47,764 Canadians between the ages of 15 and 49 were asked about their sexual activity – whether or not they have […]
Are the returns to university education falling?
[Updated to fix coding errors in some of my graphs.] Prices are determined by supply and demand. The supply of university-educated Canadians, relative to the supply of college or high school graduates, is increasing. University participation rates have been climbing for decades (Source: CAUT): Canada's points based immigration system, which prioritizes those with valuable skills, […]
Natural Resources, Living Standards and Inequality
Kevin Milligan had an op-ed in the Globe and Mail a few days ago drawing the link between natural resource development, middle class incomes and inequality. The point essentially was: “Without income derived from the resource boom, Canadian inequality and the well-being of the Canadian middle class would be much worse than we’ve experienced.” The […]
In the war between generations, will universities get caught in the cross-fire?
Canada's baby boomers are now in their late 50s and 60s. They're done with university. Their kids, for the most part, are done with university. Sure, at some point the boomers' grandchildren might want a university education, but that is not an immediate or pressing concern. More urgent, from the baby boomer's point of view, […]
“Trickle Down”, “Magic Dirt”, memes and deep parameters
"Trickle Down Theory" is a meme used (mostly by non-economists) to ridicule certain economic policies and the theories on which those policies are supposedly based. My first year students sometimes ask me to explain it to them, not understanding that it's a meme and not a theory. "Magic Dirt Theory" is a similar meme, of […]
The evolving gender gap in student satisfaction
For 30 years, Canada's National Graduates Survey (NGS) has asking college and university graduates, "If you could choose again, would you select the same field of study or specialization that you completed?" As I explain here, the precise wording of the "would you do it again" question has changed over time, as has the placement […]
Worthwhile Canadian Initiative 
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