Energizing the Oak Ridges Moraine? Analyzing the Policy Implications of Three Wind Energy Developments on the Oak Ridges Moraine and their Potential Impact on the Coordinated Land Use Planning Review through the Involvement of First Nations and Environmental Non-governmental Organizations

This research explores the policy implications of the approval of three wind energy projects on the Oak Ridges Moraine, and their impact on the Coordinated Land Use Planning Review process. Specifically, it focuses on the involvement of First Nations and environmental non-governmental organizations (ENGOs). This research was conducted through analyzing submissions to the Coordinated Land Use Planning Review, related legislation and policy, Environmental Review Tribunal hearing documents, and interviews with key informants. This research culminates in a number of recommendations to the Coordinated Review informed by the analysis.

Student Loans : Empirical Evidence and Policy Implications (Working Paper 7)

This paper first summarizes the results of an empirical investigation of borrowing and repayment patterns of post-secondary graduates, then addresses a number of related policy issues, including i) the need for further research to generate the information needed to fully evaluate the student loan system, ii) the advantages of extending the assistance available for those facing problems with their debt burdens in the post-schooling period, iii) the need to increase borrowing limits, iii) the efficiency and equity advantages of providing assistance to post-secondary students through loans rather than the grants which many have been calling for, and iii) a proposal for revitalising the cash-strapped post-secondary system with infusions from both federal and provincial governments and students themselves of equal parts, the latter facilitated by the appropriate changes in the loan system (higher limits and more support for those who run into trouble with repayment).

A Recursive Income Model for Canadians : The Direct and Indirect Effects of Family Background (Working Paper 28)

This paper presents the results of a multi-equation income model which has been estimated for Canadian men and women which incorporates the effects of a number of important family background variables, including mother’s and father’s education, parents’ immigration status, their age at immigration, place of birth, language development, and learning background. Not only education, but also the individual’s tested literacy and numeracy levels are treated as intermediate outcomes which are affected by background and which, in turn, affect income. Many of the background variables are found to have important indirect effects on income which would be missed by more conventional approaches. We also find some interesting gender aspects with respect to the influences of parents’ educations on their children’s outcomes. Various policy implications of the findings are discussed.

Analysis of Poverty Dynamics in Canada (Working Paper 9)

While we know much about poverty (or “low income”) in Canada in a static context, our understanding of the underlying dynamics remains very limited. This is particularly problematic from a policy perspective and the country has been increasingly left out on an international level in this regard. The contribution of this paper is to report the results of an empirical analysis of low income (“poverty”) dynamics in Canada using the recently available “LAD” tax-based database. The paper first describes the general nature of individuals’ poverty profiles (how many are short-term versus longterm, etc.)., the breakdown of the poor population in any given year amongst these different types, and the characterisation of poverty profiles by sex and family type. It then reports the estimation of various econometric models, starting with a set which specifies entry into and exit from poverty in any given year as a function of a variety of personal attributes and situational characteristics, including family status and changes therein, province of residence, inter-provincial mobility, language, area size of residence and calendar year (to capture trend effects). A set of proper hazard models then adds duration effects to these specifications to see how exit and re-entry probabilities shift with the amount of time spent in a poverty spell or after having exited a previous spell. A final set of specifications then investigates “occurrence dependence” effects by including past poverty spells first in an entry model and then with respect to the probability of being poor in a given year. Policy implications are discussed.

International Capital Flows and Monetary Policy Spillovers

This dissertation examines the drivers and implications of international capital flows. The overarching motivation is the observation that countries not at the centre of global financial markets are subject to considerable spillovers from centre countries, notably from their monetary policy. I present new empirical evidence on the determinants of the observed patterns of international capital flows and monetary policy spillovers, and study their effect on both financial markets and the real economy. In Chapter 2 I provide evidence on the determinants of a puzzling negative correlation observed between productivity growth and net capital inflows to developing and emerging market economies (EMEs) since 1980. By disaggregating net capital inflows into their gross components, I show that this negative correlation is explained by capital outflows related to purchases of very liquid assets from the fastest growing countries. My results suggest a desire for international portfolio diversification in liquid assets by fast growing countries is driving much of the original puzzle. In the reminder of my dissertation I pivot to study the foreign characteristics that drive international capital flows and monetary policy spillovers, with a particular focus on the role of unconventional monetary policy in the United States (U.S.). In Chapter 3 I show that a significant portion of the heterogeneity in EMEs' asset price adjustment following the quantitative easing operations by the Federal Reserve (the Fed) during 2008-2014 can be explained by the degree of bilateral capital market frictions between these countries and the U.S. This is true even after accounting for capital controls, exchange rate regimes, and domestic monetary policies. Chapter 4, co-authored with Michal Ksawery Popiel, studies unconventional monetary policy in a small open economy, looking specifically at the case of Canada since the global financial crisis. We quantify the effect Canadian unconventional monetary policy shocks had on the real economy, while carefully controlling for and quantifying spillovers from U.S. unconventional monetary policy. Our results indicate that the Bank of Canada's unconventional monetary policy increased Canadian output significantly from 2009-2010, but that spillovers from the Fed's policy were even more important for increasing Canadian output after 2008.

What Kind of a Financial System do Canadians Want? Implications of Globalization and Current Canadian Policies for the Future of the Canadian Financial System (Working Paper 2)

This paper examines the longer term outlook for the Canadian financial services industry and its governance. Attention is paid to what would happen to the Canadian financial system and its governance, federal and provincial, if current trends in the international and Canadian financial services environment and in Canadian regulatory policies continued into the future.

Anticipating climate-induced changes to forest cover in Ontario and the implications for future bioenergy development

Climate change is expected to have marked impacts on forest ecosystems. In Ontario forests, this includes changes in tree growth, stand composition and disturbance regimes, with expected impacts on many forest-dependent communities, the bioeconomy, and other environmental considerations. In response to climate change, renewable energy systems, such as forest bioenergy, are emerging as critical tools for carbon emissions reductions and climate change mitigation. However, these systems may also need to adapt to changing forest conditions. Therefore, the aim of this research was to estimate changes in forest growth and forest cover in response to anticipated climatic changes in the year 2100 in Ontario forests, to ultimately explore the sustainability of bioenergy in the future. Using the Haliburton Forest and Wildlife Reserve in Ontario as a case study, this research used a spatial climate analog approach to match modeled Haliburton temperature and precipitation (via Fourth Canadian Regional Climate Model) to regions currently exhibiting similar climate (climate analogs). From there, current forest cover and growth rates of core species in Haliburton were compared to forests plots in analog regions from the US Forest Service Forest Inventory and Analysis (FIA). This comparison used two different emission scenarios, corresponding to a high and a mid-range emission future. This research then explored how these changes in forests may influence bioenergy feasibility in the future. It examined possible volume availability and composition of bioenergy feedstock under future conditions. This research points to a potential decline of softwoods in the Haliburton region with a simultaneous expansion of pre-established hardwoods such as northern red oak and red maple, as well as a potential loss in sugar maple cover. From a bioenergy perspective, hardwood residues may be the most feasible feedstock in the future with minimal change in biomass availability for energy production; under these possible conditions, small scale combined heat and power (CHP) and residential pellet use may be the most viable and ecologically sustainable options. Ultimately, understanding the way in which forests may change is important in informing meaningful policy and management, allowing for improved forest bioenergy systems, now and in the future.