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Custom Services

With a well-respected reputation in national, provincial and regional economic forecasting, the Economic Trends team has the experience and technical training to meet your requirements for in depth economic analysis. We specialize in providing custom tailored analytical solutions to tough problems for clients in all industry sectors as well as all three levels of government. CBoC works in Canada and internationally.

Recent projects include:

  • Quarterly forecasts for automobile sales in Canada and the provinces 
  • Development of economic models to prepare cost-benefit analyses of government programs for several Canadian government departments 
  • A study of the regulatory burden placed on Canadian business including a comparison of the Canadian and U.S. situation. 
  • Development of a benchmarking analysis to measure the economic competitiveness of Western Canadian provinces and like regions n the United States and internationally. 
  • Development of a model to forecast physician and specialist requirements for the province of Ontario by county 
  • Development of a base case economic and fiscal outlook for every province and territory which allowed the development of several economic impact analyses of various alternative fiscal arrangements between the federal government and the provinces/territories and/or amongst the provinces/territories. 
  • Development of a model to forecast potential output for the economy of the Ukraine in collaboration with the Ukrainian Ministry of Finance, The Ukrainian Central Bank and ICPS. 
  • An economic study of the nature and functioning of the Canadian retail gasoline industry.

The economics team at the CBoC will help you to:

  • Make decisions that are important to your organization based on solid economic analysis and independent review of information. 
  • Support and validate your “gut feel” regarding business issues with hard data and careful analysis. 
  • Expand your reach by placing a team of skilled professionals at your fingertips to resolve those vital but sometimes lingering issues. 
  • Assess the potential impact of different policy decisions on the economy.

Our economic research covers these areas:

  • Tailor-made forecasts 
  • Custom econometric modelling and forecasting 
  • Economic impact analysis 
  • Policy analysis 
  • Sectoral/regional analysis 
  • Demographic analysis 
  • Cost/benefit analysis 
  • Database construction and management 
  • EViews training program 
  • Economic modelling and forecasting training programs 
  • Building institutional capacity to carry out sound economic analysis 
  • Project management

Specific Examples of Custom Economic Research Projects

The Contribution of Canada Post Group to Economic Activity in Canada, the Provinces, and Territories:

This project assessed, through the use of the Conference Board’s macroeconomic model, the economic impact of the operations and capital investment of the Canada Post Group (CPG) on the Canadian economy at both the national and regional levels. These impacts were quantified not just in terms of the direct impact of CPG but also in terms of the effect that CPG investment and operations have on other segments and sectors of the economy, thus accounting for any multiplier effect. The methodology allowed for the quantification of the effects of CPG activities on a range of economic variables including gross domestic product (GDP), labour markets, and government revenues.

The Economic Benefits of Standardization

This project examined the impact of standardization on the Canadian economy for the purpose of highlighting the economic benefits of standardization in Canada and providing Canada-specific standardization–related data. The study had four parts: a literature review of the major subject areas in the economics literature that have examined standards; an empirical analysis of the impact of the Canadian collection of standards on Canadian labour productivity; a series of interviews with executives of companies, standards development organizations (SDOs), trade associations and government departments in Canada in order to gain additional insights into issues such as benefits and cost savings from standards. Two case studies to examine the costs and benefits of standardization at the level of the firm.

Fiscal Prospects for the Federal and Provincial/Territorial Governments

This complex project was prepared for the Council of the Federation to provide a base case economic and fiscal outlook for each province and the territories as a whole in order to forecast their economic prospects for the next 20 years. This study provided a base case scenario which allowed the development of several economic impact analyses of various alternative fiscal arrangements between the federal government and the provinces/territories and/or amongst the provinces/territories. A significant component of the work involved the quantification of future public health care and education costs as well as provincial and territorial government revenues from 2005 to 2025. The analysis provided the Council of the Federation with the analytical capacity to determine the degree to which federal, provincial and territorial governments have the financial capacity to invest in health, education, infrastructure renewal and other important social priorities over the next twenty years.

Western Canada’s Performance and Potential

This project was originally undertaken in 2003 (currently being updated) in order to assess the overall quality of life in Western Canada. It was funded jointly by Western Diversification and by the four western provinces. It used a methodology that examined and quantified the factors that determine western Canada’s potential economic output. It also compared, using benchmarking methods, the socio economic performance of the rest of Canada, selected U.S. regions, and Australia and Finland. The project involved extensive data collection at the provincial and sub national level and was very challenging due to limited data availability and the need to ensure that only comparable data was used to benchmarked against U.S. state and international country level data. The database for the selected indicators was created using numerous data sources, including data from national statistical agencies, provincial government department data, and international sources such as the OECD.

Development of Detailed National and Provincial Macroeconomic Scenarios for the Canadian Occupational Projection System (COPS)

This project involved the use of multiple data sources in developing and providing detailed macroeconomic forecasts for HRSDC. HRSDC used these forecasts as an input into the COPS demand model (CDM) in order to develop occupational projections (expansion demand) consistent with the National Occupational Classification (NOC) in Canada. The development of these inputs into the COPS model required the use of detailed econometric models and expertise to run the simulations which could not be met from existing resources in the Policy Research and Coordination Directorate of HRSDC. The projection of expansion demand by occupation is conditional upon a macroeconomic projection and associated outlooks of economic activity and labour demand by industrial sector. The macroeconomic and industrial projections, at both the national and the provincial level were developed under the leadership of the Policy Research and Coordination Directorate (PRCD) and in consultation with economists and labour market analysts of Service Canada’s regional offices and of all provincial and territorial governments.

Sport Tourism Economic Assessment Model (STEAM)

In 2002, the Conference Board of Canada launched the Sport Tourism Economic Assessment Model (STEAM)—a cutting-edge, economic impact assessment tool that predicts and measures the economic impact of a sport event on any community in Canada. It is the first web-based tool of its kind in the world specifically designed for use in the sport tourism industry.

STEAM is a model which has been designed to make use of information available to event organizers to prepare consistent and credible economic impact projections. The purpose of STEAM is to calculate both the provincial and regional economic impacts of sport tourism. The economic impacts are calculated on the basis of capital and operating expenditures on goods, service and employee salaries, and on the basis of tourist spending within a designated tourism sector.

The elements used to measure the economic impacts are Gross Domestic Product (GDP), Employment, Taxes, Industry Outputs and Imports. STEAM measures the direct, indirect and induced effects for each of these elements.

We invite you to discuss your unique requirements with us. Contact Donna McLeod.

Staff