Research
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Assessing the effects of higher immigration on the Canadian economy and inflation
We assess the complex macroeconomic implications of Canada’s recent population increases. We find that newcomers significantly boost the non-inflationary, potential growth of the economy, but existing imbalances in the housing sector may be exacerbated. Greater housing supply is needed to complement the long-term economic benefits of population growth. -
Testing Collusion and Cooperation in Binary Choice Games
This paper studies the testable implication of players’ collusive or cooperative behaviour in a binary choice game with complete information. I illustrate the implementation of this test by revisiting the entry game between Walmart and Kmart. -
Immigration and Provision of Public Goods: Evidence at the Local Level in the U.S.
Using U.S. county-level data from 1990 to 2010, we study the causal impact of immigration on the provision of local public goods. We uncover substantial heterogeneity across immigrants with different skills and immigrants of different generations, which leads to unequal fiscal effects across U.S. counties. -
How Far Do Canadians Need to Travel to Access Cash?
This paper develops a travel-based metric to measure Canadians’ access to cash from automated banking machines (ABMs) and financial institution branches. We find that, overall, access to cash remained stable between 2019 and 2022. The total number of ABMs in Canada increased by 3.7% and the total number of branches decreased by 5.2% during that period. -
International Portfolio Rebalancing and Fiscal Policy Spillovers
We evaluate, both empirically and theoretically, the spillover effects that debt-financed fiscal policy interventions of the United States have on other economies. We consider a two-country model with international portfolio rebalancing effects. We show that US fiscal expansions would increase global long-term rates and hinder economic activity in the rest of the world. -
Digitalization: Prices of Goods and Services
This paper outlines and assesses the various channels through which digitalization can affect prices of goods and services. -
Machine learning for economics research: when, what and how
This article reviews selected papers that use machine learning for economics research and policy analysis. Our review highlights when machine learning is used in economics, the commonly preferred models and how those models are used. -
Uncovering the Differences Among Displaced Workers: Evidence from Canadian Job Separation Records
We revisit the measurement of the sources and consequences of job displacement using Canadian job separation records. -
Borrow Now, Pay Even Later: A Quantitative Analysis of Student Debt Payment Plans
We investigate alternative student debt contracts that defer payments and ease the burden of student loans on US households by preserving disposable income early in borrowers’ lives. Our model shows substantial welfare gains from these contracts relative to existing plans and gains similar to the Biden administration's proposals but with a significantly lower cost.