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I test for the effects on retail gasoline prices of a price regulation introduced in Nova Scotia and New Brunswick in July 2006. Using a difference-in-differences empirical model, I find that prices decreased (relative to the control group) only in New Brunswick after the regulation’s introduction. Further analysis suggests that prices could also have decreased in Nova Scotia if the regulation in that province had been better designed. [ABSTRACT FROM AUTHOR]

The island of Newfoundland has an isolated electrical grid. In recent years, its regulated price of electricity has deviated substantially from marginal cost. This has led to economic inefficiency, causing significant welfare costs, higher electricity consumption, and excess reliance on thermal generation. In the next few years, substantial but costly hydroelectric capacity will be constructed, largely displacing reliance on thermal generation. In tandem with that new generation, subsea transmission facilities ending Newfoundland’s isolation from the North American grid will be put in place. However, without a change in the governing legislation and the regulatory framework, economic efficiency will remain unattainable. Policy reforms that support efficient pricing and adapt the regulatory regime to the new circumstances are called for. [ABSTRACT FROM AUTHOR]

Using rich administrative tax data, this article offers new evidence on the role of size as well as the private-public distinction in the operation of foundations. Large private foundations have average disbursements just above the minimum requirement, while large public, medium-sized public, and medium-sized private foundations have average disbursements well in excess of the minimum. This suggests consideration of a looser regulatory environment for medium foundations as has recently been implemented for small foundations. [ABSTRACT FROM AUTHOR]

In recent years Ontario's local electrical utilities, encouraged by the provincial government, have merged such that the number of utilities has been reduced from over 300 in the 1990s to 74 in 2011. This article examines the determinants of utility costs with a focus on whether larger utilities are more cost-effective than smaller ones. Based on the latest data, we find that costs decrease, although this is not statistically significant, up to 165,000 customers. Beyond 400,000 customers, significant cost increases are encountered, and therefore mergers beyond this size should not be allowed. [ABSTRACT FROM AUTHOR]

This paper looks at the changing nature of regulation making with a special emphasis on the role that economists should play. It focuses specifically on the processes used to develop regulations. It argues that the traditional process for regulation making is breaking down and that the quality of regulation will decline if processes do not adapt to the changing environment. In addition to their traditional work of comparing regulatory instruments and calculating their benefits and costs, economists can play an important role by serving as strategists to help the public interest win in the strategic game of regulation making. [ABSTRACT FROM AUTHOR]

Even though governments may adopt favourable regulatory policies for renewable power generation, their ability to encourage private sector investment depends also on the presence of regulatory governance institutions that provide credible long-term commitments to potential investors. In the case of Ontario we contend that, despite large market potential and comparatively strong regulatory incentive policies, weak regulatory governance is one factor that has accounted for the challenges in attracting and implementing large-scale private investment in power generation at a reasonable cost. A unique survey of 63 wind power firms that assessed private sector opinions about the investment environment for renewable energy provides empirical support for our arguments. Firms rated the stability of regulatory policy, compared to a range of factors, among the weakest aspects of Ontario's business environment. However, policy stability ranked among the most important factors in firms' assessments of the attractiveness of alternative jurisdictions in their location decisions. Subsequent interviews revealed that firms have responded to this risk by explicitly pricing it into wind project financial models in Ontario-implying higher wind power prices for ratepayers-and by directing investment funds to other jurisdictions. We argue that policy stability in Ontario may be improved by devolving greater decision-making authority to regulatory agencies in the energy sector and by strengthening their institutional independence. [ABSTRACT FROM AUTHOR]

The message content of automotive advertising was examined to determine whether automotive advertising is meeting the needs of its stakeholders, and whether there is a need for it to become more highly regulated. A content analysis of 200 Canadian television and print advertisements revealed that 18 percent of ads demonstrate unsafe or aggressive driving, while 25 percent of ads feature safety mentions. Television ads are substantially more likely than print ads to feature unsafe or aggressive driving (27 percent vs. 10 percent, respectively), while TV ads are less likely than print ads to mention safety (21 percent vs. 29 percent, respectively). With nearly $550 million spent annually on Canadian automotive advertising, either industry self-regulation or government-imposed regulation may be needed in order to reduce advertising depictions of unsafe driving. [ABSTRACT FROM AUTHOR]

Is the integration of occupational pension policies across the Canadian provinces feasible? In this paper, we assess the proposal for harmonization made by the Canadian Association of Pension Supervisory Authorities (CAPSA) by comparing it to the European Union's successful integration of member states' pension policies. We argue that CAPSA's initiative failed both because regulatory diversity was defined as a fundamental problem and because the regulations that serve social policy goals were not protected from integration. We suggest that occupational pension integration in Canada would be feasible if provincial governments largely excluded rules on benefits and relied primarily on the mutual recognition of diverse rules. [ABSTRACT FROM AUTHOR]