...Retirement of Baby Boomers How Does It Affect Canadian Economy Table of Contents Introduction 3 1. Labor Market 3 1.1 Employment and unemployment rate 6 1.2 Employment rate and unemployment rate in long run 8 3. The Effects on Government’s Health Care Spending 14 4. Education 16 5. Standard of living 17 5.1 Increase productivity 19 6. Pension Plans 19 Conclusion 20 * Introduction The term baby-boomers refers to everyone who were born during the post-World War II, during the years 1947 to 1968, during which time there was a dramatic increase in the birth rate. It is estimated that 97% of the baby-boomers are still alive, which is about 8.5 million individuals. For a past decades, these baby-boomers have controlled and shaped many aspects of our economy, environment, and culture. But as this aging population is coming close to retirement, it could have serious impact on our society. In the coming years, there will be more retirees than worker, which could pose as a great issue in our economy. This paper will analyze the impact of this phenomenon on Canadian labor market and the level of investment, how this could reshape the government budget, and how it is going to affect the Canadian’s standard of living. 1. Labor Market It is quite clear that the retirement of baby-boomers has a big impact on the labor market. Some describes this as a “ demographic time bomb” for the nation’s labor force. Baby-boomers make up one-third of Canadian...
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...improvements in technology. ̈ Understand that capital accumulates through savings and investment. ̈ Understand that the long run level of output per person depends positively on the savings rate and negatively on the rate of population growth. ̈ Understand that the basic economic growth model predicts that standards of living in different countries will eventually converge. 61 62 PART 2 The Economy in the Long Run and the Very Long Run e have enormously higher incomes than did our great-grandparents. People in industrialized nations are far wealthier than people living in less developed countries. In fact, North Americans and many Europeans had higher incomes a century ago than people in poor countries do today. What accounts for these vast differences? What will determine our standard of living in the future? Growth accounting and growth theory answer these questions. Growth accounting explains what part of growth in total output is due to growth in different factors of production (capital, labour, etc.). Growth theory helps us understand how economic decisions control the accumulation of factors of production, for example, how the rate of saving today affects the stock of capital in the future. Figure 4-1 shows GDP for four countries over more than a century and a half. The graph has three striking characteristics. First, the long-term growth record of Canada is remarkable, with average income increasing more than twentyfold over the ...
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...3N6 www.queensu.ca/sps Peter Hicksi Social Policy in Canada – Looking Back, Looking Ahead This paper discusses recent policy trends, the changing role of the various actors in the system, international comparisons and a range of other social policy topics. The immediate purpose of the paper is to examine the reasons why social policy analysts need to look into the future, and to explore ways of managing the inevitably large risks associated with such future-looking exercises. The underlying purpose, however, is simply to introduce a range of important Canadian social policy topic to students and others who are interested in social policy, but without much previous background in the areaii. The first part of the paper was taken directly from a 1994 presentationi that was intended to provide outside social policy experts (from Latin America in this case) with an overview of the Canadian social policy landscape, particularly of recent trends and possible future directions, mainly from a federal government perspective. At that time, major reform of social security policies was being discussed and I tried to give our visitors some flavour of the background to that reform, with particular emphasis on the i Peter Hicks was with the department of Human Resources Development Canada at the time of the 1994 paper which forms the basis of Part I of the present paper. The following year he left the Government of Canada to join the OECD in Paris. ii Indeed, this is a revised version...
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...Case 1 PEST analysis for Target Canada MGMT 6057 Contemporary Business Management Fanshawe College Submitted To: Albert Knab Submitted By: Jwal Dakwala Student Id: 0723855 Date: October 18, 2014 Introduction The acronym of PEST is: * Political * Economic * Social * Technological PEST includes factors related to political, economic, social and technological related factors of the company whose effect can cause a great loss to the company. PEST analysis describes the structure of some macro-environmental factors that are used in scanning, environmental fundamental element for a strategic measurement which affects all the firm of the company. PEST factors are crucial to the company’s environment which can affect the company’s growth or can even shut down a company. Such factors are beyond the company’s firm and can cause a great threat by themselves. Political components fundamentally incorporate the tenets and regulations made by the legislature and some lawful issues which incorporate formal to casual decides that are most to be trailed by the organization. Financial components incorporates the impact of monetary development, investment rate, swapping scale and expansion rate. Social variables incorporates social components and it likewise incorporates wellbeing distinguishment, populace development rate, age dispersion and security. Technological elements incorporates innovative angles which can bring down the impediment to entrance and which can...
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...Summary Martin’s Textiles is very much in doubt with the enactment of the North American Free Trade Agreement (NAFTA), which is an agreement between Canada, Mexico, and the United States for free trade, that would not only eliminate tariffs but also allow an increase in quota from Canada and Mexico to ship textiles to the United States. Compounding the issues, Martin’s Textiles has been experiencing small losses over the past several years and has received threats of losing long-term customers. Nonetheless, John Martin, Martin’s Textiles CEO, has to make the decision whether or not to move his company’s production, currently based in New York where the company has strong family like relations with its employees, to Mexico in order to reduce labor cost or wait for an imminent bankruptcy. Martin’s Textiles was founded in 1910 and has spanned four generations of the Martin family. However, with the implementation of NAFTA, all tariffs between the Canada, Mexico and the United States would be eliminated within the next 10 to 15 years with most tariffs cut in 5 years. For Martin’s Textiles the plan’s provision that all tariffs on trade of textiles amount the tree countries would be removed within 10 years would be the especially impactful. Yet, what was even more overwhelming for the textile industry was that the quota for Canada and Mexico to ship clothing and textiles to the United States each year would rise slightly over the first five years of the agreement. Thus, the reason...
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...education policy essentially fall under the umbrella of “social stability’. This includes building a national culture that leans towards a democratic ethos, as opposed to hyper-nationalism of authoritarianism. They would also like to enhance their economic development by raising their current low value production, to high value. They’d also like to increase human capital and overall health by lowering infant mortality rates, fertility rates, and by slowing population growth. Lastly, they wish to resolve societal tensions and improve social outcomes, in general. This differs from already developed nations because they are trying to build prosperity and infrastructure after years of being an under-developed country. They’re essentially trying to make a “come back” when already developed nations are established, and primarily concerned with maintaining prosperity and infrastructure. 3. Neoliberalism is the philosophy that advocates support for economic liberalizations, free trade, and enhances the role of modern society’s private sector. The hope is that the potential savings from these reforms can fund educational expansion. There is a large assumption that the current education system is failing, and simply pouring money into the program isn’t going to cut it. There has to be something done! The Neoliberalism approach focuses on the educational future- doing away with previous ways and learning about...
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... all their possessions in Mali, a poor country GDP per capita: $1,090 Life expectancy: 52 years Adult literacy: 46% Junjie Liu – Econ 105 4 2 1/22/2014 Economic Growth Across the World Junjie Liu – Econ 105 5 6 3 1/22/2014 A larger, zoom-able version can be found at http://thedoghousediaries.com/large/5414.png. 7 Economic Growth Across the World 1) There are great differences in living standards around the world. 2) Growth rates of real GDP also vary substanWally, and as a...
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...Review Essay In Canada recession was less severe and they face no banking failure due to the size and diversification in their large institution has maintained their stability. New Entrant was limited by Canadian government and I exchange chartered bank with provide them financial stability, in Canada focuses on banking sector that’s why brokers dealers and security market remain much at smaller .The banking system of branch was oliogiopolisty that imply the system which has limited supply of banking services and cost as compared to their competitors . In our previous work (Bordo et al., 1994) we analyzed that the Canadian banking is not categorized in higher cost as compared to US. The banking of Canada same returns on equity and largely used MMMFSs After 1987 they became a vital part of Canada banking, at that time government had given them permission to create MMMFs and half of total MMMFs are kept at bank which means that they are within the banking system. According to (Byung kyong & Niamh Sheridan,2012) Canada’s three large bank weighted average is two an half time smaller than Australia’s four major banks however non performing rate of housing loans in Australia and Canada are almost same in recent years. The mortgages in Canada are provided by Canada mortgage and Housing Corporation own by Government are assigned at weight of zero risk, therefore the lowest risk of residential mortgages of four large Canadian banking is almost 70% in comparison with 40% of major...
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...Brentwood Trucking Company Case Write-Up By Derek Hattesohl Brentwood Trucking Ltd. is a holding company for one of the largest transportation companies in Canada. It includes the following subsidiaries: Brentwood Trucking Company, Speedivery, Speedpac, BrentAir, Metro Towns Truck Lines Inc., Quikpress Services, and many more. The firm started in Ontario, Canada in the 1950s transporting by-products to Toronto and Winnipeg. By 1958, they had expanded services to Montreal and North Western Ontario. Throughout the 1960s, the firm began acquiring subsidiaries and expanding their services. In the 1980s, the company developed additional divisions such as the over-the-road division, Speedivery, and BrentAir, which offered 1-3 day shipping to parts across Canada and over 18,000 destinations in the United States. Currently, Brentwood Trucking Company operates over 1,500 vehicles that ship freight all across Canada. The majority of their business is moving manufactured goods in less than truckload quantities. This means that the vehicles contain anywhere from 30 to 100 different shipments of various sizes and weights. These shipments come several different shippers and are delivered to many different locations. Brentwood operates modern terminals in all the major cities in Canada, and has agencies in several smaller towns and remote areas. Brentwood Trucking Ltd provides crucial services for its subsidiaries such as general accounting and financial controls, central banking...
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...SCIENCES DEPARTMENT OF ECONOMICS POSTGRADUATE STUDIES AN INVESTIGATION OF THE FISHER EFFECT IN ZAMBIA (1992-2011) A Research Proposal for the Dissertation in Partial Fulfillment of the Requirements of The Degree of Master of Arts RESEARCHER: MEBELO MUTEMWA COMPUTER NO.: 531004482 SUPERVISORS: DR. C. NG’ANDWE DR. C. MPHUKA DATE: AUGUST, 2012. * ABSTRACT This study seeks to investigate the extent to which the Fisher Hypothesis holds in Zambia. The Fisher hypothesis states that nominal interest rates move one-for-one with expected inflation, leaving the real rate of interest unaffected. Interest rate is an important variable for macroeconomists because it links the economy of today and the economy of the future through its effects on saving and investment decisions. The validity of the Fisher effect also has important implications for monetary policy and needs to be considered by central banks. Despite the importance of the Fisher Hypothesis, very few studies have been carried out in developing countries compared to developed countries. The study will utilize time series data for the period 1992 to 2011, this corresponds to the period in which interest rates were liberalized, and also the period in which Zambia was using monetary targeting as the monetary policy framework. The analysis will use the commercial bank lending rate as proxy measure of nominal interest rates and the Bank of Zambia (BOZ) inflation forecasts will be used as a measure of expected...
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...Fundamental analysis: • Involves assessing the short-, medium- and long-range prospects of different industries and companies. • It involves studying everything, other than the trading on the securities markets, which can have an effect on a security’s value: macroeconomic factors, industry conditions, individual company financial conditions, and qualitative factors such as management performance. • Most important factor: the actual or expected profitability of the issuer, thus fundamental analysis pays attention to: o Debt-equity ratio, profit margins, dividend payout, earnings per share o Interest and asset coverage ratios o Sales penetration, market share, product or marketing innovation, and the quality of its management Technical analysis: • The study of historical stock prices and stock market behaviour to identify recurring patterns in the data. • Study price actions: price movements, trading volumes, and data on the number of rising and falling stock issues to gain insights into the emotions and psychology of investors. Market Theories • The efficient market hypothesis assumes when new information about a stock appears, investors reassess the intrinsic value of the stock and adjust their estimation of its price accordingly. Therefore, at any given time, a stock’s price fully reflects all available information and represents the best estimate of the stock’s true value. • The random walk theory says that new information concerning a stock is disseminated randomly...
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...An Sun SIB 101 Writing Assignment 2 Professor: W. J. Flynn North American Free Trade Agreement In January 1994, the United States, Mexico, and Canada implemented the North American Free Trade Agreement (NAFTA), forming the largest free trade zone in the world. The goal of NAFTA is to create better trading conditions through tariff reduction, removal of investment barriers, and improvement of intellectual property protection. NAFTA continues to gradually reduce tariffs on set dates and aims to eliminate all tariffs by the year 2004. However, some of NAFTA's consequences do seem obviously disadvantageous. First, the reduced barriers bring an imbalanced relationship. For instance: the United States and our two neighbors, reduced barriers to trade have led to much larger trade deficits. In 2008, United States deficit with Canada was $78 billion. With Mexico, United States trade deficit was $65 billion in 2008. Second, due to the negtive effect of NAFTA, Mexico lost 1.3 million farm jobs. When NAFTA removed tariffs, corn and other grains were exported to Mexico below cost. Rural Mexican farmers could not compete. At the same time, Mexico reduced its subsidies to farmers from 33.2% of total farm income in 1990 to 13.2% in 2001. 以下为advantage How does NAFTA benefit trade? First, it eliminatestariffs. This reduces inflation by decreasing the costs of imports. Second, NAFTA creates agreements on international rights...
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...introduce such programs is to offer options such as workshops for employees to experience specific ways to live healthier quick meetings during office or lunch hours to learn new tactics and be reminded of previous ones special staff to assist in everyday office lifestyle The different ways to efficiently introduce the advantages of healthy living will have to be determined by each company depending on the cost of implementing it. Putting a health and wellness program will benefit any company by Lowering insurance costs with a simple plan introduction Providing feedback to employees about all aspects of the company?s human resources and organizational behavior Controlling long-term health care costs Yielding net savings of $3.44 for every dollar spent on programming. INTRODUCTION As obesity rises in North America, short term disability rises in direct proportion. This result is costing Canadian companies $16 billion per year and this trend is steadily on an increase. When...
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...being taken for depreciation in years when the asset is heavily used. The second depreciation method is diminishing balance method; this method is applied when the assets revenue decreases over its useful life. The depreciation is high in the early years of the useful life of the asset. The third one is straight line method; this method is applied when the assets generate revenue that is equal or very close to equal over its useful life. Tonnage-of-production method is a unit-of-production method that matches depreciation expense with production volume and therefore revenues. The benefits of this method is to generate more depreciation expense during good times and less when sales is also less, mitigating the cyclical effect of the steel industry where Canada Steel operates in. Thus, this also leads to more stable earnings. In addition, the operating activity of the company is casting metals. Therefore the wear and tear of production facilities are more relevant in cost allocation than technology obsolescence in the technology business. Furthermore, a switch to straight line depreciation method may not...
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...3 Advantages of wind power 4 Environmental effects 5 Emissions 5 Ecological footprint 5 Conclusion 7 Recommendation 7 Executive summary The report provides an analysis of the nonmarket issues of the wind power market and provides information relating to wind power projects in Canada. The report aims to help communities balance local concerns with wider environmental needs, thereby allowing the benefits of renewable energy to be realized through careful design and consultation. Additionally, it also provides a profile of a major wind power company in Canada. Problem Electricity generation produces more pollution than virtually any other single industry in Canada. Pollution, air quality, acid rain, nuclear waste and global warming are the unwanted side effects of traditional power production that endanger the environment. Every day, many fossil fuel consuming contraptions spew out gases that pollute the environment. However, when the fuel supplies for these devices run out, they will grind to a halt. To prevent this, Canada needs to find an alternative to unstable and polluting energy sources. Purpose The purpose of this report is to examine wind energy as alternative energy source and effectiveness at reducing emissions by replacing power generated from fossil fuels. Scope The report will examine wind power as an alternative energy source and nonmarket issues. Wind power usage in Canada has been growing at a significant rate in the past few years and has generated considerable...
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