Three Monetarist models--the Netherlands Bank Model, the Polak Model and the St. Louis Model--are critically examined in this study. A structural model has been set up for the St. Louis Model, showing some missing links and variables. The reduced-form approach should not be applied recklessly, i.e. without constructing its theoretical structural equations. Furthermore, in empirical studies, the concepts of stock and flow, and time references and time dimensions should be properly specified; failure to do so can lead to difficulties in interpretation. / The Netherlands Bank Model and the St. Louis Model have been applied to the Canadian economy from 1957 to 1974. The findings from this empirical study are, in general, favourable to the Monetarist hypothesis. The application of the Netherlands Bank Model to the Canadian economy demonstrates that the monetary impulses induce greater changes in nominal income and price level than in real income. The empirical results derived from the application of the St. Louis Model on a short-term basis support a middle ground position between Monetarists and Fiscalists: the monetary and fiscal impulses exert about the same magnitude effect (about 1.5) on economic activity in a year. On a medium-term basis, however, monetary impulses have a more lasting effect on nominal income, while the effects from the fiscal impulses disappear mainly because of the crowding-out effects.

This thesis considers government finances in New France during the first half of the eighteenth century. By looking directly at government accounts from Canada and l'Ile Royale, and at the administrative structures which gave rise to them, it seeks to reconcile ostensibly rival quantitative and 'administrative' approaches to the literature on France's Ancien regime finances. Evidence is found to suggest that colonial finances emerged as an integral part of French naval finances, not as a result of deliberate policy, but as a by-product of the continued presence of naval troops in the colonies and of the early failure of the Domaine d'Occident to generate net revenue flows to France. Especially in the case of Canada, the accounts of the colonial branch of the naval treasury do not yield a continuous series of figures. Nonetheless, they provide ranges for the size, distribution and changes through time of government expenditure in the colonies, as well as indications of its importance relative to the general level of economic activity, and of the net cost to France of running its North American colonies.

The thesis examines Canada's public pension system and its economic impact. It discusses the evolution of Canada's public pension plans and by reviewing reports commissioned by the Quebec, Ontario, and federal governments as well as other studies, it indicates the possible direction that the system may take in the future. A two-period model of consumption planning is employed to illustrate the effects of social security programs on saving. A neoclassical growth model is then considered to see what criteria are used to determine the optimal rate of saving. By referring to the Cambridge economists' views on this subject, possible weaknesses in the neoclassical theory are exposed and the implications for economic growth are established. The empirical part of the thesis attempts to resolve two important questions, namely, the extent to which public pension plans have affected personal saving in Canada and the role of public pension benefits in the retirement decision.

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Candidates for the Ph.D. degree are required to justify their addition of still another thesis to the infinitude already in existence. It is, therefore, in obedience to law, and not in the spirit of vainglory, that l claim to have made a contribution to knowledge. As far as l have been able to discover, no work exists which describes the economic life of New France, in all its aspects during any period of its history. There are a number of monographs. J.N. Fauteux has written an excellent book on industry, M. Salone has dealt with colonization, H.A. Innis includes the French period in his book on the fur trade, W.B. Munro is the authority on the seigneurial system, Adam Shortt gives an account of finance in the introduction to his collection of financial documents and in a series of papers published in the journal of the Canadian Bankers Association. This thesis, however, is not merely a compilation of the work of others with new chapters on agriculture and trade. It is based on a comprehensive examination of original sources, some of which have not before been consulted with a view to Canadian history, notably those in France which have not yet been transcribed. With the exception of colonization and the seigneurial system, it describes economic activity in the colony in greater detail than has ever before been attempted. In brief, the parts have been drawn together to form a whole and fresh information has been added. This is my apologia.

Over the past decade, the topic of globalization has infiltrated both public and academic debates. The aim of this dissertation is to investigate whether the growth in the discussion of globalization is justified by an equivalent increase in the interaction of economies. The focus of this dissertation is on economic globalization and specifically how it affects Canada. Evidence of cross-border 'flows' is presented in three parts. One, the trade of goods is traced from Confederation (1867) to the present, showing that contemporary levels of trade are not unprecedented. Furthermore, the data reveal that the bulk of the increase in Canada's trade since the Second World War has been with the United States. There are also strong indications that as the economy is becoming more service oriented, it will also become less trade dependent. Two, statistics on foreign direct investment (FDI) reveal that foreign ownership in Canada is at an all-time historical low. Three, the stock of portfolio investments (stocks and bonds) owned across borders is also not, historically speaking, at particularly high levels. Overall, when foreign direct and portfolio investment are combined, the data show that only a small percentage of Canada's wealth is owned by foreign investors and, likewise, only a small portion of Canada's wealth is located outside of its borders. Another claim found in the globalization literature is that the nation state is weakening or disappearing altogether. However, once subjected to scrutiny, this claim, too, is difficult to sustain. Government expenditures have increased dramatically since the Second World War and show few signs of abating. For the fiscal year 1996/97, government expenditures amounted to approximately half of the Gross Domestic Product (GDP), indicating a general levelling of expenditures since the mid-1970s. More importantly, the globalization literature has unfailingly ignored the welfare-state side of government spending, arguably the most significant development in the political economy of the nation state in the 20th century. To bridge this gap, three sectors of the welfare state — education, health, and social services — are examined in detail. Lastly, an alternate explanation for globalization is put forward. Capital, it is argued, has made a concerted attack on the welfare state, utilizing high interest rates and high unemployment to discipline labour. Although having suffered a few scratches and dents as a consequence, the welfare-state has resolutely endured. / Arts, Faculty of / Anthropology, Department of / Graduate

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