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Carney on Business Investment: You Read It Here First

July 24, 2010 - 7:58pm
Nine days ago, I posted about private non-financial corporations accumulating cash rather than investing in Canada. A week later, the Bank of Canada’s Monetary Policy Report (MPR) noted “the relatively high level of liquidity held by the non-financial corporate sector and weak investment” (page 19). By my count, the document expresses concern eight separate times about anemic [...]
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Tempests in a Libertarian Teapot

July 24, 2010 - 1:11pm
The Macdonald-Laurier Institute, which has been leading the charge against mostly unidentified “inter-provincial trade barriers,” is now posting complaints about the “intrusive” census long form. Are different-sized cream containers in various provinces and having to spend 20 minutes filling out a form once every couple of decades really the worst problems facing libertarians in Canada? If [...]
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Debating Interprovincial Trade

July 24, 2010 - 12:40pm
Over at the Macdonald-Laurier Institute, Robert Knox has tried to rebut my rebuttal of his C. D. Howe Institute paper. (I am still waiting for a rebuttal of my rebuttal of his more recent Macdonald-Laurier Institute paper.) Knox’s post sheds light on how his side of the debate sees the issue. But I begin with the [...]
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A Business POV and Direct Link to Clement’s Use of Census Long-Form Data

July 23, 2010 - 12:05pm
A highly regarded economist and business consultant sent me a link to his view of the significance and consequence of the Government’s decision to axe the census long-form questionnaire. Elegantly concise and to the point, it reads like a cheat sheet for an exam on why Census long-form information is important, from the on-the-ground [...]
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The Politicization of the Public Service - Warning from a Former Clerk of the Privy Council

July 23, 2010 - 10:53am
The resignation of Chief Statistician Munir Sheik has far-reaching political consequences, and may be the game-changer in this ongoing census saga. But it is the extreme conclusion of a far more serious and consequential development - the politicization of the public service. Read Alex Himelfarb on the topic, a former Clerk of the Privy Council (Canada’s top [...]
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Essential Reading on the Census

July 23, 2010 - 10:12am
A great piece of political analysis by Paul Saurette of Ottawa U  - from the Mark http://www.themarknews.com/articles/1907-when-smart-parties-make-stupid-decisions?page=1
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Inflation: The 1% Menace?

July 23, 2010 - 7:34am
Between May and June, consumer prices decreased in both absolute and seasonally-adjusted terms. As a result, the annual inflation rate fell to 1.0%, about half what it had been at the start of this year. One province, Manitoba, actually slipped into deflation. The Bank of Canada’s core rate edged down to 1.7%. Monetary Policy Inflation’s continuing decline begs [...]
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After the Fall - What’s Next for the Census?

July 22, 2010 - 9:25pm
There aren’t many stories like this one. You have to go back half a century, to Diefenbaker and Coyne, to find a parallel. Then too, a Prime Minister increasingly viewed as overly controlling insisted on an unworkable policy until the Governor of the Bank of Canada had no choice but to step down, in an attempt [...]
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Marc’s Summer Reading

July 22, 2010 - 4:15pm
With summer comes a lightening of my work load, so I’ve finally found some time to dive into a few interesting books. These are all related to my ongoing research interests (I do have some fiction sitting around waiting for a real holiday, with Barbara Kingsolver’s The Lacuna at the top of the pile): The Story [...]
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More Unemployment = More EI

July 22, 2010 - 8:35am
For the first time in eight months, the number of Employment Insurance (EI) recipients increased in May. We already knew from the Labour Force Survey that unemployment had increased by just over 8,000 in May. It is good news that EI expanded by the same amount because it implies that those who became unemployed that [...]
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The Crisis at Statistics Canada

July 22, 2010 - 6:41am
I am a member of the National Statistics Council, an expert advisory group to Statistics Canada. We meet twice a year as a group with the Chief Statistician and senior Statscan staff. The members are a varied group of expert users of data. The Chair of the Council, Ian McKinnon,  released this statement to the media [...]
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Steelworker Census Letter

July 21, 2010 - 2:28pm
My union’s contribution to the debate follows: July 21, 2010 Hon. Tony Clement Minister of Industry 235 Queen Street Ottawa, Ontario K1A 0H5 Dear Minister Clement: I write to ask you to reverse two recent decisions that threaten to undermine the quality and quantity of data produced by Statistics Canada. First, making the long-form questionnaire optional in the upcoming census would reduce the reliability [...]
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Jobs Recovery Far From Complete

July 21, 2010 - 1:33pm
One thing that really bugs me about the mainstream media coverage of the economy is the frequently asserted view that the jobs recovery is now almost complete - meaning that total employment has returned to pre recession levels. As one example, the Globe’s coverage of yesterday’s interest rate increase referred to  “Canada’s unique position as [...]
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Emergency Singalong

July 20, 2010 - 4:09pm
Last week someone sent me an email with a subject line that read “Emergency Singalong” They had watched the evolution of the census story with dismay and decided it was time to turn things around. Cleverly rewriting the lyrics to Garry and the Playboy’s 1960s hit Count Me In, a group assembled at his house [...]
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Stephen Harper’s Gamble

July 20, 2010 - 2:32pm
Dr. Bill Stanbury — a regular contributor to the Hill Times, professor emeritus at UBC, economist and self-described as centre-right — has urged me to work with him to compile a list of every organization who has taken a public stand on opposing the government’s decision to ax the census long-form questionnaire, and replace it [...]
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The Privacy Issue that Harper Should Focus on - Credit Info

July 20, 2010 - 8:13am
Since Stephen Harper and David Cameron seem to be on the same wavelength, and the UK thinks it can trash census and turn to isources like credit records for its information needs, the story below on privacy, from Alberta, may be of possible interest. Report of an Investigation into the Security, Collection and Retention of [...]
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The Secretary-General Is Not Amused - What the UN thinks about Census

July 20, 2010 - 7:41am
While Canadians tried to talk census sense to their rulers, here’s what the Secretary-General of the United Nations, Ban Ki-Moon, had to say about the importance of the census on Sunday July 11: “Population data helps leaders and policy-makers to make informed decisions about policies and programmes to reduce poverty and hunger, and advance education, health [...]
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Strange Bedfellows Invite Clement to Work With Them Towards Census Solution

July 19, 2010 - 4:08pm
Today a truly surprising assembly of organizations – definitely not a coalition – made a group request for a meeting with the Minister who has been put in charge of executing the decision to ax the Census long-form questionnaire. Their objective? “We understand that the far-reaching impacts of this decision may not have [...]
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Jobs and Inflation: The Missing Link

July 19, 2010 - 12:31pm
There seems to be a consensus that the Bank of Canada will raise its target interest rate tomorrow. I thought that last month’s rate hike was premature, so I see no reason for another hike this month. The argument for higher interest rates is that they are needed to ward off future inflation (even though inflation [...]
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The census and inequality

July 19, 2010 - 12:02pm
A few years ago an important study, by Marc Frenette, David Green and Kevin Milligan, Revisiting Recent Trends in Canadian After-Tax Income Inequality Using Census Data, was published by Statscan. It did not get much profile but its implications for the current census debacle are startling. The authors summarize: … [E]xisting data sources may miss changes [...]
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