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All (18) (0 to 10 of 18 results)
- Articles and reports: 36-28-0001202200200002Description:
A Registered Retirement Savings Plan (RRSP) is a tax-deductible savings vehicle designed to encourage people to save for their retirement. Contributions are made with pre-tax income, and taxation is deferred to the time when funds are withdrawn, typically in retirement when marginal tax rates are otherwise low, resulting in tax savings over the life cycle. However, RRSP funds do not lock in and there are no early withdrawal penalties by the tax system, which means pre-retirement withdrawals are frequent. This prevalence of pre-retirement RRSP withdrawals raises the question of what reasons, aside from retirement planning, lead people to use these plans. To explore this issue, new research by Statistics Canada and the Retirement and Savings Institute (RSI) at HEC Montréal considers how a person’s financial literacy affects the timing of contributions to and withdrawals from RRSPs.
Release date: 2022-02-23 - Articles and reports: 36-28-0001202100500002Description:
The financial resources available to families with young children are an important factor affecting child development, and they can have long-term impacts on socioeconomic outcomes in adulthood.
This article summarizes the findings of a new study using Statistic Canada’s data and analyzes the effects of expanding child tax benefits on after-tax income among single mothers, in the context of the 2015 reform to the Universal Child Care Benefit (UCCB) and the 2016 introduction of the Canada Child Benefit (CCB).
Release date: 2021-05-26 - Articles and reports: 36-28-0001202100400005Description: The increase in telework observed in the wake of the COVID-19 pandemic shows that far more workers are able to work from home than had been observed prior to the pandemic.
The economic costs of the pandemic to this point have been significant and pervasive, both in Canada and other countries. However, the rapid labour market adjustment to telework offers some potential longer-term benefits for a variety of reasons. More broadly, from urban planning and environmental perspectives, more widespread adoption of telework would result in less commuter traffic and greenhouse gas (GHG) emissions. This study estimates the extent to which commuter traffic would decrease, which modes of transportation would see the largest decreases and the resulting implications for GHG emissions if the Canadian economy were to operate at its maximum telework capacity, expressed relative to the commuter levels that prevailed before the pandemic.
Release date: 2021-04-22 - Stats in brief: 45-28-0001202000100063Description:
The COVID-19 pandemic has already resulted in a considerable slowdown in economic activity in Canada. Young people have been hit particularly hard. This article presents estimates of the cumulative earnings losses in the first five years after graduation that this year's graduating class could experience, depending on the depth of the economic downturn. Specifically, five scenarios for this year's youth unemployment rate are examined.
Release date: 2020-07-28 - Articles and reports: 11-626-X2020012Description:
In this Economic Insights article, the potential earnings losses experienced by this year’s class of high school and postsecondary graduates as a result of COVID-19 are simulated. These graduates may face very challenging conditions as they enter the labour market, which could have long-term ramifications for their earnings prospects. Consequently, earnings losses are simulated up to five years after graduation, based on various scenarios of this year’s youth unemployment rate.
Release date: 2020-07-28 - Stats in brief: 45-28-0001202000100029Description:
The economic lockdown to stop the spread of COVID-19 has led to steep declines in employment and hours worked for many Canadians. For workers in essential services, in jobs that can be done with proper physical distancing measures or in jobs that can be done from home, the likelihood of experiencing a work interruption during the pandemic is lower than for other workers. This article assesses how the feasibility of working from home varies across Canadian families. It also considers the implications of these differences for family earnings inequality.
Release date: 2020-06-08 - Stats in brief: 45-28-0001202000100026Description:
Physical distancing measures to stop the spread of COVID-19 have resulted in a large number of Canadians working from home, many for the first time. This sudden transition in how the economy is operating raises questions about how many jobs can reasonably be performed from home.
Release date: 2020-05-28 - 8. Work interruptions and financial vulnerability ArchivedStats in brief: 45-28-0001202000100010Description:
The COVID-19 pandemic has led to massive work interruptions in Canada and several other countries since mid-March 2020. The resulting economic lockdown has raised concerns about the ability of Canadian families to meet their financial obligations and essential needs. This article focuses on families who rely primarily on earnings—wages and salaries and self-employment income—to maintain their living standards.
Release date: 2020-05-06 - Articles and reports: 11F0019M2019018Description:
This paper examines the impact of public sector salary disclosure laws on university faculty salaries in Canada. These laws, which give the public access to the salaries of individual faculty members if they exceed specified thresholds, were introduced in different provinces at different points in time. One of the most persistent and salient features of labour markets around the world is that women earn less than men. A hypothesis recently gaining traction among academic researchers and policy makers is that the gender earnings gap persists in part because it is hidden. There have also been calls in the private sector for more transparency on pay discrepancies between male and female workers. This paper provides new evidence on the causal effect of pay transparency laws on salaries.
Release date: 2019-09-16 - 10. The Long-term Effects of Employer-sponsored Pension Plans on Non-workplace Returns on Investments ArchivedArticles and reports: 11F0019M2019001Description:
What is the effect of having an employer-sponsored pension plan (EPP) on financial performance in non-workplace investments? This paper offers new insight into this unresolved empirical issue, using administrative data on over 345,000 taxfilers from Canada.
Release date: 2019-01-14
Stats in brief (4)
Stats in brief (4) ((4 results))
- Stats in brief: 45-28-0001202000100063Description:
The COVID-19 pandemic has already resulted in a considerable slowdown in economic activity in Canada. Young people have been hit particularly hard. This article presents estimates of the cumulative earnings losses in the first five years after graduation that this year's graduating class could experience, depending on the depth of the economic downturn. Specifically, five scenarios for this year's youth unemployment rate are examined.
Release date: 2020-07-28 - Stats in brief: 45-28-0001202000100029Description:
The economic lockdown to stop the spread of COVID-19 has led to steep declines in employment and hours worked for many Canadians. For workers in essential services, in jobs that can be done with proper physical distancing measures or in jobs that can be done from home, the likelihood of experiencing a work interruption during the pandemic is lower than for other workers. This article assesses how the feasibility of working from home varies across Canadian families. It also considers the implications of these differences for family earnings inequality.
Release date: 2020-06-08 - Stats in brief: 45-28-0001202000100026Description:
Physical distancing measures to stop the spread of COVID-19 have resulted in a large number of Canadians working from home, many for the first time. This sudden transition in how the economy is operating raises questions about how many jobs can reasonably be performed from home.
Release date: 2020-05-28 - 4. Work interruptions and financial vulnerability ArchivedStats in brief: 45-28-0001202000100010Description:
The COVID-19 pandemic has led to massive work interruptions in Canada and several other countries since mid-March 2020. The resulting economic lockdown has raised concerns about the ability of Canadian families to meet their financial obligations and essential needs. This article focuses on families who rely primarily on earnings—wages and salaries and self-employment income—to maintain their living standards.
Release date: 2020-05-06
Articles and reports (14)
Articles and reports (14) (0 to 10 of 14 results)
- Articles and reports: 36-28-0001202200200002Description:
A Registered Retirement Savings Plan (RRSP) is a tax-deductible savings vehicle designed to encourage people to save for their retirement. Contributions are made with pre-tax income, and taxation is deferred to the time when funds are withdrawn, typically in retirement when marginal tax rates are otherwise low, resulting in tax savings over the life cycle. However, RRSP funds do not lock in and there are no early withdrawal penalties by the tax system, which means pre-retirement withdrawals are frequent. This prevalence of pre-retirement RRSP withdrawals raises the question of what reasons, aside from retirement planning, lead people to use these plans. To explore this issue, new research by Statistics Canada and the Retirement and Savings Institute (RSI) at HEC Montréal considers how a person’s financial literacy affects the timing of contributions to and withdrawals from RRSPs.
Release date: 2022-02-23 - Articles and reports: 36-28-0001202100500002Description:
The financial resources available to families with young children are an important factor affecting child development, and they can have long-term impacts on socioeconomic outcomes in adulthood.
This article summarizes the findings of a new study using Statistic Canada’s data and analyzes the effects of expanding child tax benefits on after-tax income among single mothers, in the context of the 2015 reform to the Universal Child Care Benefit (UCCB) and the 2016 introduction of the Canada Child Benefit (CCB).
Release date: 2021-05-26 - Articles and reports: 36-28-0001202100400005Description: The increase in telework observed in the wake of the COVID-19 pandemic shows that far more workers are able to work from home than had been observed prior to the pandemic.
The economic costs of the pandemic to this point have been significant and pervasive, both in Canada and other countries. However, the rapid labour market adjustment to telework offers some potential longer-term benefits for a variety of reasons. More broadly, from urban planning and environmental perspectives, more widespread adoption of telework would result in less commuter traffic and greenhouse gas (GHG) emissions. This study estimates the extent to which commuter traffic would decrease, which modes of transportation would see the largest decreases and the resulting implications for GHG emissions if the Canadian economy were to operate at its maximum telework capacity, expressed relative to the commuter levels that prevailed before the pandemic.
Release date: 2021-04-22 - Articles and reports: 11-626-X2020012Description:
In this Economic Insights article, the potential earnings losses experienced by this year’s class of high school and postsecondary graduates as a result of COVID-19 are simulated. These graduates may face very challenging conditions as they enter the labour market, which could have long-term ramifications for their earnings prospects. Consequently, earnings losses are simulated up to five years after graduation, based on various scenarios of this year’s youth unemployment rate.
Release date: 2020-07-28 - Articles and reports: 11F0019M2019018Description:
This paper examines the impact of public sector salary disclosure laws on university faculty salaries in Canada. These laws, which give the public access to the salaries of individual faculty members if they exceed specified thresholds, were introduced in different provinces at different points in time. One of the most persistent and salient features of labour markets around the world is that women earn less than men. A hypothesis recently gaining traction among academic researchers and policy makers is that the gender earnings gap persists in part because it is hidden. There have also been calls in the private sector for more transparency on pay discrepancies between male and female workers. This paper provides new evidence on the causal effect of pay transparency laws on salaries.
Release date: 2019-09-16 - 6. The Long-term Effects of Employer-sponsored Pension Plans on Non-workplace Returns on Investments ArchivedArticles and reports: 11F0019M2019001Description:
What is the effect of having an employer-sponsored pension plan (EPP) on financial performance in non-workplace investments? This paper offers new insight into this unresolved empirical issue, using administrative data on over 345,000 taxfilers from Canada.
Release date: 2019-01-14 - 7. Market Behaviour Versus Tax Planning Responses to Changes in Marginal Income Tax Rates Among Older Couples ArchivedArticles and reports: 11F0019M2018410Description:
This paper investigates the extent to which older Canadian taxfilers, aged 60 to 69, respond to predictable changes in marginal tax rates created by the tax and transfer system by exhibiting sorting behaviour in taxable income.
Using administrative tax data for the years from 2001 to 2012, the analysis assesses how individuals respond to changes in marginal tax rates created at the lower bounds of the second, third and fourth federal tax brackets; the lower bounds of the second and third provincial and territorial tax brackets; and the thresholds at which the Old Age Security and Employment Insurance benefits start being clawed back through recovery taxes.
Release date: 2018-11-19 - 8. Big Tax Data and Economic Analysis: Effects of Personal Income Tax Reassessments and Delayed Tax Filing ArchivedArticles and reports: 11-633-X2018012Description:
This study investigates the extent to which income tax reassessments and delayed tax filing affect the reliability of Canadian administrative tax datasets used for economic analysis. The study is based on individual income tax records from the T1 Personal Master File and Historical Personal Master File for selected years from 1990 to 2010. These datasets contain tax records for approximately 100% of initial and all income tax filers, who submitted returns to the Canada Revenue Agency (CRA) before specific processing cut-off dates.
Release date: 2018-01-11 - Articles and reports: 11F0019M2017400Description:
Despite a large literature estimating the effects of income taxation on the labour decisions of young and middle-aged workers, little is known about the extent to which older workers respond to changes in their income taxes. This paper explores this unresolved empirical issue, using longitudinal administrative data on more than one million individuals from Canada and exploiting a recent tax reform in the empirical identification strategy that explicitly targeted older couples. The findings offer new insight into the “black box” of intra-household labour supply and inform the optimal designs of income tax and retirement income systems.
Release date: 2017-11-23 - 10. The Relationship Between Firm Size and Age of Workforce: A Cross-industry Analysis for Canada ArchivedArticles and reports: 11-633-X2017010Description:
Using an employer–employee matched dataset of administrative tax records on most Canadian firms and the full populations of their workers, this paper documents relationships between firm size, industry, and the typical ages of firms’ workforces. In particular, the paper considers both differences in levels for the calendar years 2003 to 2010 inclusive, as well as changes in the age composition of firms’ workforces over this time as observed in a longitudinal analysis.
Release date: 2017-11-09
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