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Tag Archives: fiscal policy

Social assistance: Do higher benefit levels lead to higher caseloads?

As part of my PhD thesis, I did some statistical analysis in which I asked the question: “Do higher social assistance benefit levels lead to higher caseloads?” I have recently updated the data and had it published in a journal. Here’s a short summary of the journal article’s main findings. Nick Falvo is a Calgary-based research consultant with a PhD in Public Policy. He has academic affiliation at both Carleton University and Case Western Reserve University, and is...

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Homelessness in canada could rise due to recession

I am currently writing a report for Employment and Social Development Canada looking at the long-term impact of the current recession on homelessness. It should be ready by early November. In the meantime, a teaser blog post I’ve just written on the same topic is available here. Nick Falvo is a Calgary-based research consultant with a PhD in Public Policy. He has academic affiliation at both Carleton University and Case Western Reserve University, and is Section...

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Trudeau government should spend more on affordable housing and homelessness

On July 21, the Alternative Federal Budget Recovery Plan was released. The document aims to provide public policy direction to Canada’s federal government, in light of the current COVID-19 pandemic. I was author of the Recovery Plan’s chapter on affordable housing and homelessness, which can be accessed here. Nick Falvo is a Calgary-based research consultant with a PhD in Public Policy. He has academic affiliation at both Carleton University and Case Western Reserve...

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The Fiscal Deficit, Modern Monetary Theory and Progressive Economic Policy

Modern Monetary Theory or MMT has crept in from the academic margins to become an influential doctrine in progressive policy circles in the United States. Both Elizabeth Warren and Bernie Sanders drew on the ideas of MMT to shape their ambitious public spending platforms. MMT has been cited as one way to fund a Green New Deal, in combination with progressive tax reform. It is safe to say that most Canadian progressives are not debating the finer points of monetary and...

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Britain was not “nearly bust” in March

"Britain nearly went bust in March, says Bank of England", reads a headline in the Guardian. In similar vein, the Telegraph's Business section reports "UK finances were close to collapse, says Governor":Eh, what? The Governor of the Bank of England says the UK nearly turned into Venezuela? Well, that's what the Telegraph seems to think: The Bank of England was forced to save the Government from potential financial collapse as markets seized up at the height of the coronavirus crisis,...

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David Hulchanski class discussion

I recently participated in a panel discussion in David Hulchanski’s graduate-level social housing and homelessness course at the University of Toronto. Points raised in the blog post include the fact that all English-speaking countries of the OECD have relatively low levels of public social spending, relatively low levels of taxation, and serious affordable housing challenges. The link to the full blog post is here. Nick Falvo is a Calgary-based research...

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Ways & means of paying Government’s growing bills – financing or cashflow?

“The Bank has always held itself bound to the extent of its power to render the assistance required by the Treasury in any exigency and under any condition of the Money Market.” – James Currie, Governor of Bank of England, July 1885 to Lord Salisbury, Prime MinisterThe new agreement between Government and Bank of England to make the Government’s overdraft with the Bank (the Ways and Means Facility) open-ended has been characterised as direct “monetary financing” of...

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Bailey goes up an inflation blind alley – but what role for BoE ‘monetary financing’?

This post argues that the new Governor of the Bank of England is wrong to address the Bank’s role in the crisis through the prism of traditional ‘price stability targeting’. Rather, the Bank’s duty and task is to support the government’s economic (including fiscal) policies, and in particular - and in so doing - to act to protect the financial stability of the whole system. Actions to support the Bank’s monetary and financial stability objectives need to be integrated.On...

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