John's 1977 American Economic Review paper, "Intergenerational Equity and the Investing of Rents from Exhaustible Resources" has been selected to receive the 2014 Publication of Enduring Quality Award by the Association of Environmental and Resource Economics (AERE). It will be presented at the AERE Summer Conference in San Diego, CA on Thursday, June 4th, 2015.
QED News Events
2015/05/21 (All day)
2015/05/11 (All day)
Christopher Cotton (economics) writes about how longer political campaigns and more exposure to candidates ahead of an election can increase polarization in politics. Read the article at http://wpo.st/4jeG0.
2015/04/01 - 8:45am
It is with pleasure that we announce that Hongfei (Amy) Sun is the winner of the 2015 QED Research Prize. She is the fourteenth recipient of this illustrious award. Amy follows in the footsteps of the previous winners (in alphabetical order) Robin Boadway (x2), Allen Head, Ian Keay, Susumu Imai, Huw Lloyd-Ellis, Morten Nielsen (x2), Shouyong Shi, Katsumi Shimotsu, Marie-Louise Viero, Ruqu Wang and Jan Zabojnik. Thank you to this year’s QED research prize committee, made up of the last two recipients, Marie-Louise and Morten.
2015/03/12 (All day)
Charles Beach (Economics) - More researchers are raising concerns about the quality of data from Statistics Canada's national household survey, in the Globe and Mail.
2015/01/28 - 9:15am
It is with pleasure that we announce that the winner of the 2014 C.A. Curtis Prize is Mr. Derek Stacey for his PhD thesis entitled, “Search and Information Frictions in Decentralized Markets,” supervised by Professors Huw Lloyd-Ellis and Allen Head.
Below you will find the abstract for Mr. Stacey’s paper as well as a link to the thesis itself. Congratulations Derek and a very special thank you to our 2014 Curtis Prize committee, Frank Lewis (Chair), Allan Gregory and Thor Koeppl, for all of their hard work in deciding this prestigious award.
This thesis studies the importance and implications of information asymmetry in decentralized markets with search frictions. The first chapter provides an introduction and literature review. In the next chapter, I propose a model of the housing market using a search framework in which sellers are unable to commit to asking prices announced ex ante. Relaxing the commitment assumption prevents sellers from using price posting as a signalling device to direct buyers' search. Adverse selection and inefficient entry on the demand side then contribute to housing market illiquidity. Real estate agents that can facilitate the search process can segment the market and alleviate information frictions. In Chapter 3, I further study the importance and implications of the commitment assumptions embedded in directed search models. I eliminate commitment to take-it-or-leave-it trading mechanisms in a model of the labour market with worker heterogeneity and a matching process that allows for multiple firms to match with a single worker. When workers and firms cannot commit to ex ante offers, to an allocation rule, or to an ex post bargaining strategy, the equilibrium is necessarily inefficient. This is true for a broad class of protocols for wage determination, of which bilateral bargaining and Bertrand competition are special cases. Finally, Chapter 4 presents a theory of land market activity for settings where there is uncertainty and private information about the security of land tenure. Land sellers match with buyers in a competitive search environment, and an illiquid land market emerges as a screening mechanism. The implications of the theory are tested using household level data from Indonesia. As predicted, formally titled land is more liquid than untitled land in the sense that ownership rights are more readily transferable.
2015/01/23 (All day)
It is with pleasure that we announce that the winner of the 2013 C.A. Curtis Prize is Mr. Nicolas-Guillaume Martineau for his PhD thesis entitled, “Essays on Political Parties, their Organization, and Policy Choice,” supervised by Professor Robin Boadway.
Below you will find Mr. Martineau’s thesis. Congratulations Nicolas and a very special thank you to our 2013 Curtis Prize committee, Frank Lewis (Chair), Allan Gregory and Thor Koeppl, for all of their hard work in deciding this prestigious award.
2014/12/12 - 10:15am
Today Queen's Gazette announced that one of the New Queen's Residences has been named after one of our former Head of Economics, David C. Smith. Full details here.
2014/11/18 - 10:00am
The Scarthingmoor Prize is awarded each year to the best MA essay(s). The Department is pleased to announce the co-winners of the 2013-2014 Scarthingmoor Prize in Economics: Erik Drysdale (currently working at the Bank of Canada), “Bayesian and Classical Forecasting of Canadian Macroeconomic Time Series: A Comparison Study”. Supervisor Marco Cozzi and Frédéric Tremblay (currently working at the Department of Finance), “Contingent Convertible Bonds: Hedging, Credit Default Swaps, and Sensitivity to Subjective Market Opinions”. Supervisor: Professor Frank Milne.
Congratulations Erik, Frédéric and their respective supervisors, Marco Cozzi and Frank Milne! As well, thank you members of the 2013-2014 Scarthingmoor Prize committee, Professors’ James MacKinnon (Chair), Marie-Louise Vierø and Christopher Cotton for all of the hard work in awarding this prestigious prize.
See more about the Scarthingmoor Prize here.
2014/11/12 - 9:45am
Allan Gregory (Economics) – An easing of foreign investment restrictions has led to an explosion in US issued exchange-traded funds, in the Globe and Mail.
2014/10/28 - 8:00am
Congratulations to Bryan Paterson and his family! Bryan Paterson was elected the 96th mayor of Kingston on Monday night.
Mayor-elect Bryan Paterson, with his wife Shyla at his side, makes his celebration speech to supporters at his campaign headquarters. For more details see the Whig-Standard at: