Author Archives: wciecon
Sticky prices vs sticky coordination; inflation vs NGDP targeting
Monetary policy matters (mainly) because of nominal rigidities. The simplest story of nominal rigidities is that (some) prices (or wages) are sticky. Firms want to change prices when a shock hits, but there is some cost that makes it hard for them to do so. The object of monetary policy should then be to target […]
Iceland and the Loonie?
Some people in Iceland want to abandon the Krona and adopt the Loonie. This came as rather a surprise to me. Here are some thoughts off the top of my head:
Does language influence savings?
My latest piece on Economy Lab takes a look at Keith Chen's recent paper on the impact of language on savings.
Driving Investment: Public or Private?
Yesterday’s Statistics Canada release on public and private investment spending intentions noted that: “Canadian public and private organizations reported that they intend to invest $394.1 billion in construction and machinery and equipment in 2012, up 6.2% from investment in 2011.” Indeed, one story I came across mentioned how important public sector capital spending was going […]
The federal budget: it’s (probably) time for a (mild) fiscal contraction
It is widely believed that the March 29 federal budget will make cuts in program spending, and the Conservative government seems to have done a very good job of preparing public opinion for them. I've written a few Economy Lab posts ([1], [2], [3]) on the topic without actually coming down on any side of […]
Why is research higher status than teaching?
It is a truth universally acknowledged: within academia, research has higher status than teaching. The question is, why? High status work is generally well paid work, and vice versa. Wages are determined by market forces, so supply and demand is the first place to look for an explanation for the high status of research.
The Economics of Street Performers
Well, I have had the ultimate travel and tourism experience by spending a few days in Las Vegas – my first time – and a place I can now best characterize as a Disneyland experience for adults.
Thoughts on Greece
Greece seems to have slipped below the front pages. We've moved on to other things. I haven't. I don't have much to say here, but I can't say nothing. This is too important. I'm just going to record my thoughts, for whatever little they are worth. I have been Googling around, trying to understand the […]
An update on the apparently non-existent Quebec recession
It's been five or six weeks since I noted that there was something strange about the Quebec LFS employment numbers. A one per cent drop in employment in the space of two months looked like the ohmygodweareallgonnadie months of early 2009, but there didn't seem to be any supporting story for why it was happening […]
Bad Table Manners
Dear Dr. Sloppytables, Thank you for your recent submission to Review of Economic Theory of Consumer Habits (RETCH). I skimmed the abstract and skipped right to the tables at the back of the paper. They are a mess.
Worthwhile Canadian Initiative 
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