LCERPA members offer expertise in a wide range of fields. On this page we provide information on our members' recent research and publications, including papers published as part of the LCERPA Working Paper Series.

Earlier years' publications and working papers :   2015   2014   2013   2012   2011   2010   2009   2008

Published and forthcoming journal articles

Andreonia, J.A., A. Payne, J. Smith, and D. Karp. 2016. Diversity and donations: The effect of religious and ethnic diversity on charitable giving Journal of Economic Behavior & Organization 128 (August): 47-58.

Bakas, D. , T. Panagiotidis and G. Pelloni. 2017. Regional and sectoral evidence of the macroeconomic effects of labor reallocation: A panel data analysis. Economic Inquiry 55(1): 501-526.

Bohl, M., A. Klein, and P. Siklos. Forthcoming. A Markov Switching Approach to Herding. Credit and Capital Markets.

Bohl, M., P. Michaelis, and P. Siklos. 2016.Austerity and Recovery: Exchange Rate Regime Choice, Economic Growth and Financial Crises Economic Modelling 53 (February 2016): 195-207.

Boeringer, C., N. Rivers, T. Rutherford, and R. Wigle. Forthcoming. "Sharing the burden for climate change mitigation in the Canadian federation." Canadian Journal of Economics.

Bordo, M. and P. Siklos. 2016. Central Bank Credibility Before and After the Crisis Open Economies Review, August 2016.

Chong, T., Q. He, and W. H. Chan. Forthcoming. From Fixed to Float: A Competing Risks Analysis International Economic Journal.

Claus, E., I. Claus and L. Krippner. 2016. "Monetary policy spillovers across the Pacific when interest rates are at the zero lower bound" Asian Economic Papers 15(3): 1-27.

Filardo, A. and P. Siklos Prolonged Reserves Accumulation, Credit Booms, Asset Prices and Monetary Policy in Asia Emerging Markets Trade and Finance 52 (February 2016): 364-381.

Koebel, K. and T. Schirle. 2016. "The differential impact of universal child benefits on the labour supply of married and single mothers" Canadian Public Policy, March 2016.

Legree, S., T. Schirle and M. Skuterud. (Forthcoming) "The Effect of Labor Relations Laws on Unionization Rates within the Labor Force: Evidence from the Canadian Provinces" Industrial Relations.

Lombardi, D. and P. Siklos. 2016. Benchmarking Macroprudential Polcies: An Initial Assessment Journal of Financial Stability, December 2016.

Morrison, W.G. 2016. Product Bundling and Shared Information Goods: A Pricing Exercise Journal of Economic Education, 47(1), 49-63.

Morrison W. G. and Mason K. 2016. Low cost carriers in the Middle East and North Africa: Prospects and strategies Research in Transportation Business & Management.

Pang, K. and P. Siklos. Forthcoming. Macroeconomic Consequences of the Real-Financial Nexus: Imbalances and Spillovers between China and the U.S. Journal of International Money and Finance.

Ruffle, B. J. and Y. Tobol. 2016. "Clever enough to tell the truth," Experimental Economics, (online March 2016) DOI:10.1007/s10683-016-9479-y.

Ruffle, B. J. and O. Volij. Forthcoming First-mover advantage in best-of series: an experimental comparison of role-assignment rules. International Journal of Game Theory, DOI: 10.1007/s00182-015-0493-7.

Published and forthcoming book chapters, books, and other publications

Chong, T, Wang, D, and W. Chan. Forthcoming Do Price Limits Increases Stock Market Volatility in China? Advances in Quantitative Analysis of Finance and Accounting.

Claus, E. and I. Claus. (eds.) 2016. A collection of surveys on savings and wealth accumulation. United Kingdom: John Wiley & Sons Limited.

Legree, S., T. Schirle, and M. Skuterud. 2016. Can Labour Relations Reform Reduce Wage Inequality? in Income Inequality: The Canadian Story, edited by David A. Green, W. Craig Riddell and France St-Hilaire, 399-434.

McCaig, B. and N. Pavcik. Forthcoming. Moving out of agriculture: Structural change in Vietnam in Structural change, fundamentals, and growth, eds. Margaret McMillan and Claudia Paz Sepulveda.

McCaig, B., M. McMillan, I. Verduzco, and K. Jefferis. Forthcoming. Stuck in the middle? Structural change and productivity growth in Botswana, in Structural change, fundamentals, and growth, eds. Margaret McMillan and Claudia Paz Sepulveda.

Milligan, K. and T. Schirle. 2016. The Pressing Question: Does CPP Expansion Help Low Earners? C.D. Howe Institute E-Brief, July 2016.

Milligan, K. and T. Schirle. 2016. Option Value of Disability Insurance in Canada Social Security Programs and Retirement Around the World: Disability Insurance Programs and Retirement. NBER Book Series. University of Chicago Press.

Milligan, K. and T. Schirle. Forthcoming. Health Capacity to Work at Older Ages: Evidence from Canada Social Security Programs and Retirement Around the World: The Capacity to Work at Older Ages. NBER Book Series. University of Chicago Press.

Snoddon, T. 2016. Carbon Copies: The Prospects for an Economy-Wide Carbon Price in Canada C.D. Howe Institute E-Brief, September 2016.

LCERPA Working Papers - 2016

Milligan, K. and T. Schirle. The health and capacity to work of older men and women in Canada. LCERPA Working Paper No. 2016-3, December 2016.

Abstract. We address the health capacity to work among Canadian older workers using two complementary methods, aggregate mortality risk and individual health indicators. We find that men in 2012 would need to work more than five additional years between ages 55-69 to keep pace with how much men in 1976 worked, holding health capacity constant. For working women, the comparable result is only two years more work. Most of these gaps arose before the mid-1990s, as employment advances have offset mortality improvements since then. Regionally, more than half the Ontario-Atlantic employment difference among older men is rooted in health differences.

Shelton, B. and W. Chan. Volatility Spillovers Arising from the Financialization of Commodities, LCERPA Working Paper No. 2016-2, November 2016.

Abstract. The author found that the rapid growth of capital flowing into commodity markets as they develop into a formal asset class has put downward pressure on the realized volatility of non-energy commodities in the United States. These findings are a result of analysis performed using a difference-in-difference (DID) framework looking into the volatility characteristics of commodities included in the S&P GSCI versus off-index commodities. Additionally, two OLS models directly test the relationship between financialization and realized volatility while controlling for economic and financial fundamentals. Policymakers and regulators should be cognizant of the benefits financial investors (speculators) introduce to commodity markets. These diversified investors improve the ability to distribute risk among market participants, which lowers volatility and risk premiums. Lower risk premiums allow commodity producers and farmers to hedge at higher futures prices. (JEL Q02, G10)

Morrison, W. and R. Oxoby. Risk Taking, Intertemporal Choice, and Loss Aversion. LCERPA Working Paper No. 2016-1, July 2016.

Abstract. We report on two laboratory experiments testing for the presence of loss aversion, separate from risk aversion, in decisions involving risk and intertemporal choice. Both experiments utilize an asset legitimacy protocol to control for ‘house money’ effects. In our first experiment, we augment the Holt-Laury risk preference elicitation protocol to address the effects of loss aversion. In our second experiment, we explore loss aversion using a discount rate elicitation protocol that controls for risk preferences. Our results show that loss aversion can be separated from risk preferences and has a profound effect in decision-making.

LCERPA Commentaries and Other Analysis

Ensing, D. 2016. Flood damage: the hidden cost of climate change. LCERPA Commentary No. 2016-4, May 2016. Prepared for the Climate Choices Canada Conference, April 2016.

Diallo, O. 2016. Smart market-oriented regulations and the potential for unintended policy interactions in Canada. LCERPA Commentary No. 2016-3, May 2016. Prepared for the Climate Choices Canada Conference, April 2016.

Arcila-Vasquez, A., A. Ferrer and T. Schirle. 2016 The gender wage gap and returns to skills: Evidence from Ontario. LCERPA Commentary No. 2016-2, April 2016.

Ensing, D. and T. Snoddon. 2016. "Canada's Climate Policy: Promises, Expectations and Practicalities." LCERPA Commentary No. 2016-1, February 2016.