NORTHERN ECONOMIST 2.0

Friday, 27 January 2017

Economic News Around the North: January 27th Edition

Here are some new items that I found to be of interest with respect to the economy of northern Ontario over the last week or so. Some are not quite what they seem - North Bay (and Thunder Bay) do well by not making this list. Have a nice weekend. Livio.

New Veterans Affairs office opens in Thunder Bay. CBC News, Jan. 26, 2017

5 Things to know about Thunder Bay's proposed city budget. CBC News, Jan 24, 2017.

Tax levy could rise by millions. Chronicle Journal, Jan 24, 2017.

Steel, hub important to Ontario, Wynne tells mayor. Sault Star, Jan 26, 2017.

Mineral exploration on the rebound. Northern Ontario Business. Jan 26, 2017

Putting a value on the North's assets. Northern Ontario business. Jan 24, 2017.

Proposed Sudbury arena would be a "showpiece of Northern Ontario" sudbury.com, January 26, 2017.

North Bay fails to crack list of top 25 cities. North Bay Nugget. Jan 27, 2017.

Thursday, 26 January 2017

Worthwhile Canadian Initiative Named a Top Blog

FocusEconomics has put together its list of the Top Economics and Finance Blogs of 2017 and Worthwhile Canadian Initiative, where I blog with Stephen Gordon, Nick Rowe and Frances Woolley, has made the list. The list of 101 economics and finance blogs was compiled by the FocusEconomics team of economists. The criteria for inclusion in the list was simply that they had to have regularly blogged in 2016 and that they needed to be English-language blogs. The list is an eclectic mix of policy and economic viewpoints stretching from the Keynesian school to the Chicago school to the Austrian school and everything in between. Delighted at the recognition (as well as the additional link provided to Northern Economist!)

Tuesday, 24 January 2017

Do Municipalities Really Need New Revenue Tools?

Municipalities in Ontario have been agitating for new revenues particularly given the sluggish growth in provincial government grants. Well, apparently at least one municipal councilor in Thunder Bay also believes that cities need more revenue tools. This is in spite of the evidence that Ontario municipalities have seen their revenues grow quite robustly over time. According to the Financial InformationReturns maintained by the Ontario Ministry of Municipal Affairs, between 2000 and 2015, total municipal revenues in Ontario more than doubled growing from $22.7 billion to $47.8 billion. While the growth rate has slowed somewhat since the 2009 recession, it remains that since 2000 these revenues have grown at an annual average rate of 5.2 percent. This is much faster than either Ontario’s population or GDP growth.

Northern Economist Visiting NOSM

I will be visiting the Thunder Bay Campus of the Northern Ontario School of Medicine on January 26th to give a seminar in the Human Science Seminar Series. My talk will overview trends in health spending in Canada over the longer-term and provide some recent estimates of aggregate value for money from this spending. Looking forward to the visit.

Economic News Around the North: January 20th, Edition

Here is a listing of some stories around northern Ontario over the last few days of economic significance for the region. Congratulations to Thunder Bay International Airport and Laurentian University for their milestones. Enjoy.

Thunder Bay Airport Sets New Passenger Record, Tbnewswatch, January 16, 2017.

Laurentian celebrates official opening of School of Architecture, sudbury.com, January 19th, 2017

Sudbury businesses question if labour law changes are necessary. Northern Ontario Business, January 16, 2017.

Carbon bill hits city hall. Chronicle-Journal, January 16, 2017.

Good news for Sudbury on jobs front. Sudbury Star, January 13th, 2017.

Energy costs continue to be a concern across the north. SooToday, January 18, 2017.

FedNor invests $460,000 into Nipissing, Parry Sound, Muskoka economy. NorthBayNipissing.com, January 19, 2017.

NWO First Nations drop injunction bid against pipeline work. Tbnewswatch, January 19, 2017.

NORTHERN ECONOMIST 2.0