“On Monday, Bank of Canada Governor Mark Carney warned that Canadians are “stretched” financially and “increasingly vulnerable to an adverse shock” such as interest rate hikes. Carney urged Canadians to be “prudent in their borrowing,” and ensure that in the future they can service debts taken on today. He also called on banks to be more stringent in qualifying borrowers. The central bank halted the slow rise of its key lending rate in October after three incremental rate increases since July from a historic low. Last week, it maintained the interest rate at 1.0 percent as the economic recovery showed signs of faltering in the second half of the year, but Carney signaled that rates would eventually rise.” Read more.
“Canada Urges ‘Moderate’ Monetary Policy”
AFP, December 16, 2010.
Image by Felixco, Inc / FreeDigitalPhotos.
-
The Effects of Immigration on Labor Markets
Setting aside the impact of immigration on American culture, politics, taxes and spending, this AIER explainer looks at the economics of immigration, both legal and illegal.
-
Dedollarization: Causes, Constraints, and Consequences
This paper traces the historical ascent of the dollar, explains the institutional foundations of its current supremacy, and surveys the growing landscape of dedollarization initiatives.
-
Economist and Revolutionary – Adam Smith and 1776
Samuel Gregg examines Adam Smith’s analysis of the economic drivers behind the American Revolution. He highlights Smith’s revolutionary solutions for resolving the conflict and concludes by applying these enduring insights to contemporary global issues.
-
Permission to Earn a Living: History, Economics, and the Ethics of Occupational Licensing
Where occupational licensing exceeds genuine public safety needs, it substitutes centralized judgment and political privilege for the preferences of consumers and workers.
