In March 2020, the Trudeau government launched a new version of the Insured Mortgage Purchase Program (IMPP). According to CMHC’s website: “Under this program, the government will purchase up to $50 billion of insured mortgage pools through CMHC.” Here are 10 things to know: 1. Canada Mortgage and Housing Corporation
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The Progressive Economics Forum: Crashed: How a Decade of Financial Crises Changed the World
Book Review Adam Tooze. Crashed: How a Decade of Financial Crises Changed the World. Viking. New York. 2018 The global economic crisis is now more than a decade old, and is far from definitively behind us. Indeed, many fear, with good reason, that the recent, uneven and lethargic global recovery
Continue readingThe Progressive Economics Forum: Teaching macroeconomics as though Lehmans didn’t happen
September 15th marked the tenth anniversary of the fall of Lehman Brothers, destabilizing Western economies at levels not seen since the 1930s. It also marked the second week of fall classes, with many economics graduate students cranking through equations that define the discipline’s conventional macroeconomic models. With such names as
Continue readingThe Progressive Economics Forum: Rethinking the economics of extreme events
Review of Worst-Case Economics: Extreme Events in Climate and Finance by Frank Ackerman *** Long ago economics was termed “the dismal science,” but in recent years that title has arguably been passed on to climate science, with its regular and dire warnings that humanity needs to rapidly transition off of
Continue readingThe Progressive Economics Forum: Rethinking the economics of extreme events
I was asked to review Frank Ackerman’s Worst-Case Economics: Extreme Events in Climate and Finance. I’ve learned a lot from his writing over the years so it was a pleasure to say yes. *** Long ago economics was termed “the dismal science,” but in recent years that title has arguably been
Continue readingThe Sir Robert Bond Papers: Justice and the budget #nlpoli
The latest in a string of little budget dramas ended on Friday afternoon. A group of lawyers that included former Conservative party president John Babb launched a court case to try and force the provincial government to re-open the courthouse in Harbo…
Continue readingThe Progressive Economics Forum: Summer reading! Review of Stanford’s second edition of Economics for Everyone
Looking for something to take with you to the cottage, the beach or the cafe? Check out Jim Stanford’s 2nd edition of Economics for Everyone. Here’s a review by Peter G. Prontzos first published in the Vancouver Sun. Book review: A fresh look at the dismal science of economics Economics for Everyone:A Short Guide to the Economics of […]
Continue readingThe Sir Robert Bond Papers: Using his words #nlpoli
Politicians are usually very careful about the words they use.That’s why it’s important to notice the words Premier Dwight Ball used this weekend in an interview with Tom Clark for Global’s current affairs show The West Block.Ball said there was …
Continue readingParchment in the Fire: Risk of global financial crash has increased, warns IMF | Business | The Guardian
Threat of instability and recession in emerging economies, and legacy of debt and disharmony in eurozone among ‘triad of risks’ outlined in stability report Source: Risk of global financial crash has increased, warns IMF | Business | The Guardian Filed under: Capitalism Tagged: Financial crisis
Continue readingThe Progressive Economics Forum: Inequality, the Financial Crisis and Stagnation: Competing Stories and Why They Matter
Inequality, the Financial Crisis and Stagnation: Competing Stories and Why They Matter Thomas Palley There exists several mainstream explanations of the financial crisis and stagnation, each explaianing the role they respectively attribute to income inequality. Those explanations contrast deeply with a structural Keynesian explanation of the crisis. The role of
Continue readingParchment in the Fire: Iceland’s Supreme Court Upholds Jail Sentences of Four Banking Executives
Filed under: Capitalism, Crisis, Europe Tagged: Financial crisis, Iceland
Continue readingThe Progressive Economics Forum: G20 meeting of world finance ministers too little too late
Posted earlier as an opinion piece for CBC. See original post here (this post slightly modified from original) By Louis-Philippe Rochon Follow him on Twitter @Lprochon Much was at stake earlier this week when finance ministers from G20 countries met in Istanbul to discuss Greece and the state of the world
Continue readingThe Progressive Economics Forum: Seccareccia on Greece, Austerity and the Eurozone
Over at the blog of the Institute for New Economic Thinking, Ottawa U professor Mario Seccareccia has given an interview titled “Greece Shows the Limits of Austerity in the Eurozone. What Now?” The interview can be read here.
Continue readingParchment in the Fire: Revealed: Bank of England disarray in the face of financial crisis | Business | The Guardian
Revealed: Bank of England disarray in the face of financial crisis | Business | The Guardian. The full extent of the Bank of England’s emergency action to prevent the collapse of the banking system is revealed on Wednesday as it releases previously secret documents detailing its frantic day to day
Continue readingThe Progressive Economics Forum: (Macro) Econ 101
On December 2, Chris Ragan wrote a column for the Globe and Mail titled “Another (Macro) Defense of Econ 101.” The link to his column is available here . My brief reply was published in the Globe and Mail on December 13. The full version is below: Professor Ragan defends conventional (macro) Econ
Continue readingThe Sir Robert Bond Papers: Welcome to the bottom of the rabbit hole #nlpoli
Putting a freeze on any discretionary spending is the very least that the provincial government could do in light of the dramatic – but entirely predictable – volatility in oil prices that have made the government’s huge budget deficit even larger. The fact that Premier Paul Davis finally admitted on
Continue readingThe Progressive Economics Forum: Economics 101
On October 21, Chris Ragan wrote a column for the Globe and Mail titled “In defence of Economics 101.” The link to his column is available here. On October 24, Marc Lavoie, Louis-Philippe Rochon and Mario Seccareccia replied to him. The link to their response is available here.
Continue readingThe Progressive Economics Forum: What Have we Learned From the Financial Crisis? Part 4: Bernard Vallageas
What follows are comments from a roundtable discussion held at the University of Ottawa on February 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. This is Part 4 of 5 sequential blog entries. – Bernard Vallageas Vice-président de l’Association pour
Continue readingThe Progressive Economics Forum: What Have we Learned From the Financial Crisis? Part 3: Mario Seccareccia
What follows are comments from a roundtable discussion held at the University of Ottawa on January 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. This is Part 3 of 3 consecutive blog entries. – Mario Seccareccia Professor
Continue readingThe Progressive Economics Forum: What Have we Learned From the Financial Crisis? Part 2: Louis-Philippe Rochon
What follows are comments from a roundtable discussion held at the University of Ottawa on January 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. This is Part 2 of 3 consecutive blog entries. – Louis-Philippe Rochon Associate
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