Division of Economics and Business Associate Professor Jared Carbone, who specializes in environmental economics, computational economics, international trade, and public finance, contributed to the CBC story, “Stubborn oil prices weigh heavily on upcoming federal budget."
From the story:
Outside of the federal budget, researchers say the oilpatch downturn is hurting just about every province in the country.
"We find that almost every province (with the exception of New Brunswick) experiences a negative welfare impact," wrote Jared Carbone at the Colorado School of Mines and Kenneth McKenzie at the University of Calgary in a recent report.
"While the manufacturing sector benefits from the reduction in energy prices and increased international exports due to a depreciation of the Canadian dollar, on balance Ontarians suffer from the higher international prices of consumer goods and from the lower demand for the goods that they export to other parts of Canada, most particularly the oil producing regions."