68 research outputs found

    Compétitivité canadienne et libre-échange nord-américain : les trois premières années de l’ALÉ

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    Cet article tente d’établir un bilan de l’évolution des facteurs de compétitivité relative du secteur manufacturier canadien depuis l’entrée en vigueur de l’Accord de libre-échange et évalue les effets structurels qui en ont découlé pour le volume des échanges bilatéraux et multilatéraux.This paper is an attempt to monitor the economic changes that have resulted from changes in Canadian competitiveness as a result of the FTA. The sources of changes in Canadian manufacturing competitiveness and their structural effects on bilateral and multilateral trade flows are identified

    L’endettement international et les problèmes d’ajustement : une perspective générale

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    This paper reviews the theory of international indebtedness over time from the viewpoint of both the demand and the supply of international credit. The demand for foreign credit depends ultimately on the optimal trade-off between financing and correcting external deficits, subject to the constraint of availability of credit. The conditions for debt crises to arise are analysed. The overall supply of international credit depends mainly on trade imbalances and on the rate of growth of international reserves. The supply of credit for a single country depends on risk indicators related to its solvency and liquidity positions.It is assumed that the international cycle of indebtedness for balance of payments reasons has a deflationary potential once borrowing limits have been reached

    La dimension optimale des Ă©conomies et des pays

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    La politique commerciale fédérale et l’économie québécoise

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    It is argued in this paper that both normative and objective considerations must be taken into consideration in the formulation of tariff policy. Moreover, it is shown that static and partial equilibrium analyses can be disastrously misleading in guiding the framing of tariff policy.Regarding the regional impact of tariffs, it is shown that within a monetary union, interregional trade flows reflect absolute production and transport cost advantages and that the non-realization of perfect domestic mobility of factors of production entails social and private adjustment costs that must be reckoned with in the cost-benefit analysis of any shift in trade policy.From the standpoint of Quebec, a French-speaking political entity, the Canadian trade area is far from being optimal. The tendency for Canadian market-oriented economic activity to polarize in Ontario behind tariff walls, accompanied by a large movement of foreign enterprises, pushes the Quebec economy towards the least attractive and the most vulnerable industries among those oriented towards the Canadian common market. A rationalization of these laggard Quebec industries and an up-grading of resources-oriented economic activity would then benefit from the removal of both Canadian and American tariffs. Among Canadian trade options, therefore, Quebec would potentially benefit most from a gradual move toward a North-American free trade area, with ad hoc measures for certain industries, but should reject the world-wide free trade and unilateral free trade options because of the serious industrial dislocations and factors of production outflows they would create

    Mobilité internationale des facteurs de production en situation de chômage et de libre-échange

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    Cet article fait un recensement des analyses théoriques et empiriques concernant les effets possibles de la mobilité internationale des facteurs de production. Les résultats et les recommandations du modèle de base sont établis quand prévalent le plein-emploi et l’ajustement complet des marchés. Les résultats des diverses analyses, dans un contexte de chômage structurel, sont ensuite identifiés. Dans ce dernier cas, il n’est plus établi que la mobilité incontrôlée des facteurs de production résulte en un gain net, ni pour le pays d’accueil, ni pour l’économie mondiale. Les vérifications empiriques, surtout depuis 1980 aux États-Unis et depuis 1978 au Canada, tendent à confirmer les analyses théoriques qui s’éloignent du postulat de plein-emploi.This paper surveys theoretical and empirical studies on the possible effects of the international mobility of factors of production. Results from the basic model are established when full employment and complete market-clearing prevail. Results of various analyses are identified when unemployment prevails. In this case, it does not follow that uncontrolled mobility of factors of production results in a net gain, neither for the host country nor for the world economy. Empirical research studies offer general support, especially since 1980, in the United States and since 1978, in Canada, to the conclusions of theoretical analyses, when the full employment assumption is relaxed

    Les causes structurelles du chĂ´mage actuel

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    Rodrigue Tremblay rejette la notion que le chômage actuel soit dû à une déficience de la demande globale rectifiable par une expansion budgétaire. La dangereuse explosion de l’endettement public interdit le recours à cette solution. Il explique la montée du chômage depuis vingt ans par l’interaction entre des rigidités micro-économiques accrues — démographie, règlements, fiscalité, programmes sociaux, cartellisation syndicale, gonflement artificiel du secteur abrité de l’économie, etc. — et les rigidités macroéconomiques nouvelles qui auraient soulevé le taux d’intérêt réel — mort de Bretton Woods, endettement international, contraction monétaire américaine. Seule une lutte soutenue contre ces rigidités structurelles et la modération des coûts unitaires de main-d’oeuvre peuvent, à son avis, amener une baisse du chômage.Rodrigue Tremblay rejected the notion that current unemployment is due to a global demand deficiency which can be corrected by budgetary expansion. The dangerous explosion of the public debt forbids recourse to this solution. He explained the growth in unemployment over the past 20 years in terms of the interaction between increased micro-economic rigidities—demography regulation, fiscality, social programs, union concentration, the artificial growth of the protected sector of the economy etc.—and new macro-economic rigidities which have raised the real interest rate—the death of Bretton Woods, international debts, American monetary contraction etc. Only a sustained attack on structural rigidities and the moderation of unit, labour costs can in his opinion, bring about a decrease in unemployment

    Les causes structurelles du chĂ´mage actuel

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    Rodrigue Tremblay rejected the notion that current unemployment is due to a global demand deficiency which can be corrected by budgetary expansion. The dangerous explosion of the public debt forbids recourse to this solution. He explained the growth in unemployment over the past 20 years in terms of the interaction between increased micro-economic rigidities—demography regulation, fiscality, social programs, union concentration, the artificial growth of the protected sector of the economy etc.—and new macro-economic rigidities which have raised the real interest rate—the death of Bretton Woods, international debts, American monetary contraction etc. Only a sustained attack on structural rigidities and the moderation of unit, labour costs can in his opinion, bring about a decrease in unemployment. Rodrigue Tremblay rejette la notion que le chômage actuel soit dû à une déficience de la demande globale rectifiable par une expansion budgétaire. La dangereuse explosion de l’endettement public interdit le recours à cette solution. Il explique la montée du chômage depuis vingt ans par l’interaction entre des rigidités micro-économiques accrues — démographie, règlements, fiscalité, programmes sociaux, cartellisation syndicale, gonflement artificiel du secteur abrité de l’économie, etc. — et les rigidités macroéconomiques nouvelles qui auraient soulevé le taux d’intérêt réel — mort de Bretton Woods, endettement international, contraction monétaire américaine. Seule une lutte soutenue contre ces rigidités structurelles et la modération des coûts unitaires de main-d’oeuvre peuvent, à son avis, amener une baisse du chômage.

    L’endettement international et les problèmes d’ajustement : une perspective générale

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    This paper reviews the theory of international indebtedness over time from the viewpoint of both the demand and the supply of international credit. The demand for foreign credit depends ultimately on the optimal trade-off between financing and correcting external deficits, subject to the constraint of availability of credit. The conditions for debt crises to arise are analysed. The overall supply of international credit depends mainly on trade imbalances and on the rate of growth of international reserves. The supply of credit for a single country depends on risk indicators related to its solvency and liquidity positions.
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