Alberta government resource revenues are highly volatile. Adjustment of government spending to shifts in revenues imposes social and economic costs. Using simulations, we find the establishment in the early 1970s of a rule-based Alberta government resource revenue stabilization fund could have...

This chapter addresses the impact of the composition of expenditures and the design of programs on the effectiveness of government expenditures. No clear empirical relationship has been found between growth and public expenditures. This may be due to differences in the efficacy of expenditure...

Health spending, the largest component of provincial government spending, has risen significantly over the past decade. It has been asserted that larger health expenditures have caused provincial governments to spend less on other types of government services. Using a panel of province-level...

This paper uses constituency-level political campaign expenditures to analyze the impact of competition on advertising. A theoretical model, based on expected utility maximization, predicts an uncertain impact of increased competition on campaign spending. The direction of this impact is tested...

The average return on long-term bonds exceeds the return on short-term bills by a large amount over short investment horizons. A riding-the-yield-curve investment strategy takes advantage of the higher returns on longer term bonds. This strategy involves the purchase of bonds with maturities...

Aggregate and sector-level investment equations are estimated for a panel of 17 OECD countries using an error correction methodology. A real currency depreciation is found to reduce aggregate investment and investment in all nine sectors in the short run, and aggregate investment in the long...

Estimates are presented for the impact of debt accumulation by the central and subcentral governments of a federation on the creditworthiness of other federation member governments. The estimates, calculated using an ordered probit model and Canadian provincial data, indicate that debt...

Additional empirical evidence is provided concerning the impact of government financing decisions on monetary expansion in the United States for the post-World War II period. The budget position of the fiscal authority and the rate of money growth set by the Fed are specified as endogenous...