Pizzy DA

[Pizzy DA @patreush]

@stephenfgordon See this excellent piece: https://t.co/GIiZuqiDAK

[Pizzy DA @patreush]

@stephenfgordon I imagine these changes are mostly a reflection of the general decline in the US NFA position since 2008, which is driven by valuation effects (US equities have performed relatively well)

[Pizzy DA @patreush]

@stephenfgordon I think by this people mean a "technical definition of a recession" (i.e. two consecutive quarters of negative GDP growth). You're saying that's also not a thing?

[Pizzy DA @patreush]

@MikePMoffatt Does Keir Starmer have a pony tail?!?

[Pizzy DA @patreush]

@jbsteinberg @tylermeredith Nice post. Note that the US Census Bureau data does report which exports are entering under CUSMA and it was still not much above 50% in June despite the high tariff free share. A bit puzzling.

[Pizzy DA @patreush]

@BaldwinRE This has good up-to-date info: https://t.co/dXPf0fzECy

[Pizzy DA @patreush]

@HannoLustig Well, Trump has implied that the trade deficit would disappear if Canada becomes the 51st state, so there's your answer.

[Pizzy DA @patreush]

@Brad_Setser There are plenty of papers on shock dependent ERPT, but I don't know any that look at tariffs. Good research question. Seems like it might be high if tariffs are permanent, although GE effects would be relevant.

[Pizzy DA @patreush]

@Brad_Setser But, as you suggest, depends on how permanent the tariffs are perceived to be. See insights from here for example: https://t.co/5Qon22EWRg

[Pizzy DA @patreush]

@andrew_leach The WSPI is designed to capture the price of wholesale services (it nets out the price of purchased goods). Seems a bit surprising to think that wholesale firms would pay a lot in carbon taxes directly, no?

[Pizzy DA @patreush]

@andrew_leach An important detail that is perhaps missed here is that the WSPI is an index of "margin prices" (the difference between selling price and purchase price). If carbon prices affect wholesale purchase and selling prices equally, the WSPI shouldn't change.

[Pizzy DA @patreush]

@DavidColetto @abacusdataca Thanks for posting, but I believe there's an error here - the top question refers to Poilievre rather than Singh.

[Pizzy DA @patreush]

@DanEricRohde The question of whether it was necessary to establish the BoC is interesting. The econ historians (Bordo-Redish) downplay the importance of this from a monetary policy perspective. If your draft speaks to this, it would be very interesting (to me at least).

[Pizzy DA @patreush]

@stephenfgordon Excellent points, thanks for your thoughtful contribution!

[Pizzy DA @patreush]

@TheStalwart The Raptors were almost called the Toronto Saurus Rex. What could have been...

[Pizzy DA @patreush]

@micheleboldrin Very interested, Michele, but link isn't working (for me).

[Pizzy DA @patreush]

@TheStalwart https://t.co/dtRYRhh0i8

[Pizzy DA @patreush]

@TheHerleBurly @AmandaLang @CarmichaelKevin Thanks for the great pod! In case you're curious about a historical view of 'why Canada's banks are so stable': https://t.co/96tsuxU9ZN

[Pizzy DA @patreush]

@stephenfgordon Hmm this is an interesting statement. Is there a strong case that fiscal profligacy of 1970-1995 weighed heavily on the Canadian economy during this period?