Category Archives: Uncategorized

Energy price rises due to tax increases, tariffs and price distorting power of oil cartel not a measure of true inflation

A number of Canadian analysts have responded to the news that Canadian “inflation” has risen to 2.5 % a level above the Bank of Canada’s target rate of 2 % as a justification for arguing that the central bank ought … Continue reading

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Bank of Canada Raises interest rates again : No sign of inflation and danger of trade war slowing growth Underestimated in its Decision

Once again the central bank operating as it does with a Friedman based Nairu perspective with respect to inflation has mistakenly raised the overnight lending rate. This is an inappropriate response to the emerging trade war and likely recession promoting … Continue reading

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Ontario election once again reveals deep flaws in our electoral systems

Just look at the results published at Elections Ontario. The Progressive Conservatives received 40.49 % of the vote. But they won a large majority of the seats 76 out of 124 or 61 % of the seats. The second place … Continue reading

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Second posting CEA paper Post crash macroeconomics:the eclipse of rational expectations monetarism and the need for a new synthesis

Chorney, Harold (Concordia University Montreal Harold.chorney@concordia.ca) Title Post-crash macroeconomics: The eclipse of rational expectations monetarism and the need for a new synthesis. Abstract Most of the classical and Neo-classical macroeconomics edifice imploded with the crash of 2007–2009. Instead of market … Continue reading

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Post crash macroeconomics:the eclipse of rational expectations monetarism and the need for a new synthesis (under construction) paper presented to the Canadian Economic Association annual meetings June 1 2018 McGill university Montreal

Chorney, Harold (Concordia University Montreal) Title Post-crash macroeconomics: The eclipse of rational expectations monetarism and the need for a new synthesis. Abstract Most of the classical and Neo-classical macroeconomics edifice imploded with the crash of 2007–2009. Instead of market clearing … Continue reading

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Goodbye to NAIRU? Hello Once Again to Keynes

Paul Krugman has a very interesting piece in the New York Times today. It builds on the very good recent  work of Olivier Blanchard on the natural rate and the possibility of hysteresis brought about by prolonged unemployment in the … Continue reading

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Poli 489 AB spring 2018 course outline

Poli 489 AB Spring summer term,Tuesday and Thursday 1:15-4:00 p.m. Prof. Harold Chorney. Office hours:Tuesday and Thursday 4:30-5:45 pm   This course is a seminar course organized around the debate  that has been taking place over the apparent dramatic rise in … Continue reading

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