The IMF’s latest delivery of the World Economic outlook contains an interesting analysis of the current “non” recovery in terms of a divergence between fiscal and monetary policy, the first between restrictive and procyclical in nature and the second being accommodating and reinforcing a financial expansion. As argued here by the IMF economists who worked on this issue, the “great” […]
Read moreAsked by an anglophone journalist what the Québec students struggle means for the ROC, this is what I had to say. http://cutvmontreal.ca/videos/1102 I’m was among a varied group of people who published a declaration tuesday, on May day, in support of the student movement. One of the main themes of our message was to link the conflict around tuition fees […]
Read moreThe UNTCAD just published its annual report on Trade and Development, titled Post-crisis Policy Challenges in the World Economy. The report describes a two speed global recovery, showing how developing economies have come out of the crisis stronger then their developed European and American counterparts. There the author invokes the contradictory forces at work in a “wageless” recovery, where wage […]
Read moreUniversity of Sherbrooke economist and fiscal specialist Luc Godbout with Suzie St-Cerny and Michaël Robert-Angers has just published a timely research paper evaluating the net fiscal impact on households of Québec’s income tax system.Timely because, as discussed here be Armine Yalnizyan recent data from stats can shows that though globally income inequality has risen during the last recession, they have […]
Read moreThe mood in the progressive milieu here in Québec seems rather grim this morning. In Québec history we call the twenty year period when anti-union, right wing populist Duplessis ruled, the “Era of the Great Darkness”, and many by email or on social media have spontaneously referred to the upcoming period in an analogous way. Many have adopted the “black […]
Read moreThe political crisis around the Caisse’s dismal performance continues to haunt the political scene in Québec. Urged to explain how up to 40 billion dollars might have been lost during his management Caisse ex-director Henri Paul Rousseau largely blamed the economic and financial crisis, factors beyond his control. Asked why and how the Caisse ended up with so much ABCP […]
Read morehas just been published and is avalaible here. It largely confirms research conducted by PEF members on household wealth, indebtedness and income. The report highlights the state of financial precarity of many households, the gap between income and spending, the growing debtload and the important impact the “recession” (if we still want to call it that, given its deflationary driven […]
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