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FRASER UPDATE
A weekly digest of our latest research, commentary, and blog posts
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Latest Research
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Evidence shows ESG investing does not outperform similar non-ESG investment alternatives
ESG: Myths and Realities is a new essay series that highlights the misunderstandings and simplifications of Environmental, Social and Governance investing—ESG investing for short. This third essay, ESG Investing and Asset Returns, finds that, according to a broad review of existing research, there's no conclusive evidence that investing in companies with higher ESG rankings produces higher returns for investors. Therefore, there’s also no conclusive evidence to suggest that a more expansive ESG reporting regime, mandated by government in Ottawa or elsewhere, will produce benefits to investors or society more broadly.
Read More [[link removed]]

State and provincial populations influence the size of government: populations above 9.6 million in Canada mean larger government
Population and the Fiscal Outcomes of Subnational Jurisdictions is a new study that finds once a province or state exceeds a certain population size, the government’s role in the economy begins to grow.
Read More [[link removed]]


Commentary and Blog Posts
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School boards should focus on academics and order [[link removed]]
(Appeared in the National Post) by Michael Zwaagstra
In London, the district’s director of education wants to reduce the number of student suspensions—despite violent incidents.

Smith can right Alberta’s fiscal ship—if she exercises discipline [[link removed]]
(Appeared in the Edmonton Journal) by Tegan Hill and Jake Fuss
Alberta’s government-sector workers enjoy a 9.3 per cent wage premium over their private-sector counterparts.

Minimum wage hikes hurt our least-advantaged workers [[link removed]]
(Appeared in the Ottawa Sun) by Matthew Lau
By making labour more expensive, the minimum wage reduces employment.

Ottawa’s ‘net-zero’ housing plan makes zero sense [[link removed]]
(Appeared in the Winnipeg Sun) by Kenneth P. Green
According to estimates, the government's plan would prevent warming of about 410 millionths of a degree Celsius by 2100.

Ontario government should target wages and benefits of government employees [[link removed]]
(Appeared in the Ottawa Citizen) by Jake Fuss and Tegan Hill
Government-sector workers in the province enjoy a 10.3 per cent wage premium over their private-sector counterparts.

British Columbia faces several daunting fiscal challenges [[link removed]]
by Jock Finlayson
Payroll costs across the provincial government sector are poised to increase sharply.

Schools shouldn’t abandon tests and exams [[link removed]]
(Appeared in the Toronto Sun) by Michael Zwaagstra
There’s a close link between background knowledge and reading comprehension.

Nobel Prize awarded to supporters of central banking [[link removed]]
by David R. Henderson
Bernanke chose to pay interest on bank reserves, which caused banks to hold onto reserves rather than lend them out.


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