Les implications de la stabilisation de la construction résidentielle

Monetary policy has been recognized as one of the principal reasons for cyclical instability in residential construction. It has been therefore suggested that residential construction should be isolated from monetary policy. This paper is designed to measure the impact of such suggestion.We have used the CANDIDE model for our experimentation. Residential construction is isolated through appropriate adjustments of the intercepts of the equations for residential construction. This led of cause of disturbances in various aggregates of the economy. Hence, a series of simulations was run in such a way that the disturbed aggregates would come close to the corresponding aggregates obtained by the control-solution. This meant additional adjustment in money supply and Treasury Bond yield, which are regarded as proper indicators of monetary policy.It was found that the additional adjustment varied between 9 to 16% in case of money supply and 38 to 45% in case of Treasury Bond yield. In addition, variation in non-residential construction and investment in machinery and equipment was found to be significant. In short, though efficient in stabilizing residential construction, the isolation of residential construction from monetary policy appears to be costly in terms of its impact on monetary policy and capital investment

Les implications de la stabilisation de la construction résidentielle

Monetary policy has been recognized as one of the principal reasons for cyclical instability in residential construction. It has been therefore suggested that residential construction should be isolated from monetary policy. This paper is designed to measure the impact of such suggestion.

L’inflation canadienne de la dernière décennie vue à travers CANDIDE

In this paper, a large scale econometric model of the Canadian economy (CANDIDE) is employed to study questions concerning the evolution of Canadian prices over the period 1960-1974. After a brief description of the wage-price sectors of the model, "trade-off" or Phillips curves are derived on the basis of simulations of the entire model, for the periods 1960-1965 and 1965-1970 separately. On the basis of these simulations, it is found that the trade-off curve does not appear to be very sensitive to the choice of the instrument utilized to move the Canadian economy from positions of lower to fuller utilization of its labour resources. The position of the curve is, however, quite sensitive to the rate of increase of U.S. prices; also, the full curve appears to have shifted upward considerably from the first to the second subperiod. The analysis of the period 1970-1974 suggests, among other conclusions, the possibility that an even rate of U.S. inflation over this period of rather violent fluctuations in U.S. prices could have had in itself favourable repercussions on the Canadian trade-off curve. The concluding section presents another summary of the major findings, as well as some important caveats and qualifications

Prolégomènes à toute appréciation critique de CANDIDE

This text describes the CANDIDE model from three critical points of view. First, it presents the structure of the model with the aid of a table of "supersectors" and a flow chart. The discussion of the linkages between these supersectors brings out the general equilibrium character of the model.The center section of the paper deals with the theoretical foundations of the behavioural equations. A statement of the equation specification in each sector of the model is followed by a brief evaluation. The authors confess to an eclectic attitude and stress the practical difficulties of making stylized theories bring order in variegated facts. Exogenous influences on the model are discussed as well.The same eclectic approach is evident in the third part of the text which treats of estimation and validation. A variety of tests and checks—some novel ones included—are applied in the process of developing the model. The authors conclude with the observation that recent tumultuous developments in the economy raise fundamental questions about the validity and usefulness of models like CANDIDE

Prolégomènes à toute appréciation critique de CANDIDE

This text describes the CANDIDE model from three critical points of view. First, it presents the structure of the model with the aid of a table of "supersectors" and a flow chart. The discussion of the linkages between these supersectors brings out the general equilibrium character of the model.

Éducation et formation : à l'heure de la compétitivité internationale /

Textes présentés lors du Congrès annuel de l'Association des économistes québécois (ASDEQ) au Palais des Congrès de Hull, les 19 et 20 avril 1990.Comprend du texte en anglais.Comprend des réf. bibliogr