Category Frances Woolley
Why is canine cataract surgery so expensive?
In Ontario, a opthamologist is paid $441.95 per eye for cataract surgery. In Ottawa, the cost of canine cataract surgery is about $4,000. (I cannot give you an exact price, as the Ontario Veterinary Medicine Association's suggested fee guide is not available to non-members). Why do opthamologists charge more to repair a dog's eye than a human's eye?
In applied economic research, what actually matters?
"his friend Mr. Darcy soon drew the attention of the room by his fine, tall person, handsome features, noble mien; and the report which was in general circulation within five minutes after his entrance, of his having ten thousand a year." Jane Austen, Pride and Prejudice. Taller men are more desirable marriage partners. One theory […]
When is a missing observation not really missing?
Imagine you want to learn about the causes of disability in Canada. You could structure your questionnaire in one of two ways.
In praise of cookbook econometrics
Cookbook econometrics has few fans. I am one of them. Cookbook econometrics provides clear algorithms for solving econometrics problems, without providing detailed explanations of why these algorithms work, or why specific steps in that algorithm are required.
Nine steps to cleaner data
Real world data is messy. Dirty. Untidy. Before you can even think about using all of those pretty techniques you learned in econometrics class, you need to clean up the data. Here is my nine step approach.
The history of economic research in pictures
When Adam Smith wrote the Wealth of Nations, the universe of ideas looked something like this:
Affirmative action for policy-relevant research?
The Social Sciences and Humanities Research Council of Canada (SSHRC) has replaced its old "standard research grants" with new "insight grants." Both the old and new grants fund "investigator framed" research – that is, ideas and topics generated by researchers themselves. (SSHRC has other programs that target specific research areas, for example, the automotive industry) Investigator […]
Why the Gini?
Stephen Gordon recently posted an excellent analysis of trends in income inequality in Canada and elsewhere. Stephen, like almost all of the other authors cited in his post and the subsequent discussion, measured inequality using the Gini coefficient. The very next day, I saw a paper by Francesca Greselin arguing that the Gini is inferior to […]
You can’t escape demographics. Quit whining and deal with it.
As you get older, your productivity will, eventually, decline. If you live long enough, you will reach a point when you can no longer provide for yourself. You cannot bake bread when you are young, bury it in the ground, and then dig it up and consume it when you are old. In your golden years, […]
The overlooked failure in pension markets
Public economics textbooks have lists of reasons why pension markets fail. People aren't aware of the need for for retirement savings, either because they're short sighted, or have limited cognitive abilities. Annuities markets fail, because only people who know they are likely will live a long time will choose to purchase annuities. Private markets may […]
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