Newsletter - February 2022
The registration period for the 35th edition of the Bourstad challenge is open!

From February 14 to April 14, 2022, beginners and experienced investors alike will have the opportunity to participate to the 2022 Bourstad Stock Market Simulation Challenge and be in the running to win nearly $35,000 in prize. 

Participants must manage a virtual portfolio of $200,000 and invest this amount by choosing securities from a selection of real stocks listed on stock markets. 

The Bourstad Financial Education Program is part of CIRANO's economic and financial literacy projects. This initiative helps improve the economic and financial knowledge and skills of young people and the general public.

Find all the details of the competition and registration at

Study to assess the incidence of COVID-19 in Quebec - Updated with data from the week of January 27 to february 1st, 2022
tw CIRANO has published an update of its exploratory study to estimate the incidence of COVID-19 cases in Quebec. This update integrates the data from the third week of collection, which took place from January 27 to february 1st, 2022, with a sample of 3000 respondents representative of the Quebec population and compares them to the second week of collection.
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tw Mikhael Deutsch-Heng, HEC Montréal, Benoit Dostie, HEC Montréal professor, CIRANO researcher and Fellow, and Genevieve Dufour, CIRANO Project Director, recently published the study «Documenting the evolution of the demand for STEM-related skills», which is part of the annual theme: Skills and the Labour Market. What is the impact of technological change on the demand for skills? What about skills specifically related to STEM occupations? 
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The CIRANO research community responded to the 2nd call of the Minister of Finance
tw In the context of the post-COVID economic recovery, the Minister of Finance and Minister of the Economy and Innovation, Mr. Eric Girard, has launched a new call to the academic economists community in July 2021 following the first consultation in 2020 consultation in order to gather proposals related to the sound management of public finances and the role that taxation can play in achieving the government's objectives.
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Marcel Boyer Appointed to the Academic Steering Committee of the «2022 Antitrust Writing Awards»
tw Marcel Boyer, Emeritus Professor of Economics, Université de Montréal, and Fellow CIRANO, has been nominated to the Academic Steering Committee of the «2022 Antitrust Writing Awards». The aim of the Antitrust Writing Awards is to promote competition scholarship and to contribute to competition advocacy. In 2012, Marcel’s Boyer article "The determination of optimal fines in cartel cases : The Myth of Underdeterrence" (with Marie-Laure Allain and Jean-Pierre Ponssard) was chosen as the Best Academic Economics Article.  
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Publication of the book «Droit bancaire et financier» with the collaboration of researcher Frédéric Marty
tw Frédéric Marty, CNRS researcher, Groupe de recherche en droit, économie et gestion (GREDEG) of the Université de Nice Sophia-Antipolis and CIRANO associate researcher is co-author of the chapter «Une comparaison des sanctions en droit financier, droit des données personnelles et droit de la concurrence» (with the participation of Hugues BOUTHINON-DUMAS and W. Gregory VOSS) of the book «Droit bancaire et financier, Mélanges AEDBF - France VIII» recently published. This eighth volume of the Mélanges AEDBF collection offers a very diversified approach of banking and financial law.
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Mélanie Bourassa Forcier, co-author and research director of the Commissaire à la santé et au bien-être report
tw Mélanie Bourassa Forcier, full professor at the Université of Sherbrooke, CIRANO researcher and Fellow, was part of the steering committee and co-authored the Part 1 of the Commissaire à la santé et au bien-être final report. This report, entitled «Le devoir de faire autrement», evaluates the performance of care and services for seniors during the first wave of the pandemic.
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2022 Fiscal Policy Challenge
tw The 2022 Fiscal Policy Challenge is now open! This competition, is intended for Bachelor degree students (cumulating 30 credits or more) and Master's degree students in economics or other related fields (finance, taxation, political science), aims to stimulate thinking and find innovative and rigorous solutions to current public policy issues.  Theme of the 2022 edition: The impact of the rising cost of living. To register, go to the CIRANO website.
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Call For Papers - 32st Annual conference of the International Trade and Finance Association
tw The International Trade and Finance Association is calling for papers for their 32st Annual Conference which will take place on May 26-27, 2022 on the theme: Globalization in Transition. The scientific community is invited to make theoretical, conceptual and empirical proposals on all aspects of international trade and finance.
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In memory of our colleague Ngo Van Long
tw It is with great sadness that we announce the passing of our esteemed colleague Ngo Van Long from cancer on January 15, 2022.  He held a Ph.D. in Economics from the Australian National University and was a Professor in the Department of Economics at McGill University and a CIRANO Fellow.  His research covers a wide range of issues in microeconomic theory with specialization in four separate but related fields of economics.
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A well-deserved retirement for Mr. Galipeau
tw On Monday, January 31, Mr. Galipeau, CIRANO Project Director, officially retired.  He is proud to always supported CIRANO when he was at the City of Montreal and then when the City became a partner.  We are happy to had him in our team and we wish him a well deserved retirement!
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External activity - HEC Forecast 2022
Friday, February 4, 2022
HEC Forecast 2022 will take place today from 12pm to 8pm, it's a day-long bilingual online event featuring conferences, panels and networking AI in tomorrow's economy. Nathalie de Marcellis-Warin, CIRANO Fellow and researcher and Full Professor at Polytechnique Montréal and Thierry Warin, Full Professor at HEC Montréal and CIRANO Fellow and researcher will participate in the conversation around the topics of the use of data science in organizations, the risks associated with data and the implications of AI in tomorrow’s economy.  
Informations and registration
Webinar - Investing in the stock market: course 101
Thursday, February 10, 2022
As part of the collaboration between BANQ and CIRANO, we are offering a co-organized event on investing in the stock market on February 10, 2022 at 7:00 pm. In this talk for beginners, our expert and director of the Bourstad project Paul Bourget will explain the basics of investing in the stock market to introduce you to the world of finance and portfolio management and will present the 2022 Bourstad challenge.
Informations and registration
Bourstad Webinar - Portfolio Management
Wednesday, February 16, 2022
In this webinar, which will take place on February 16 from 7:00 to 8:00 p.m., the expert Ian Gascon, President of Idema Investments and winner of the 1998 Bourstad contest, will explain how to manage a financial portfolio in order to make a set of securities grow. This webinar is exclusively reserved for Bourstad challenge participants.
Informations and registration
Bourstad Webinar - Behind Crypto-assets, Crypto-currencies, Web 3.0 and NFT: the blockchain
Wednesday, March 2, 2022
New terms appeared recently, such as crypto-assets, crypto-currencies, and NFTs. Often, they also come with new promises and revolutions. During this webinar on March 2nd, our experts Robert Normand, professor at the École des sciences de la gestion (UQAM) and CIRANO project director, and Thierry Warin, professor at HEC Montréal, CIRANO researcher and Fellow, will present their perspectives and will offer their overview of these innovations. This webinar is exclusively for Bourstad challenge participants.
Informations and registration
Working Papers
A dynamic analysis of international environmental agreements under partial cooperation (Luca Colombo, Paola Labrecciosa, Ngo Van Long)
Austerity Reduces Public Health Investment (Olivier Jacques, Alain Noel)
Combien de personnes ont développé des symptômes ou contracté la Covid-19 au Québec ? Une étude exploratoire (David Boisclair, Roxane Borgès Da Silva, Vincent Boucher, Nathalie de Marcellis-Warin, Pierre-Carl Michaud and Ingrid Peignier)
Zero-hours Contracts in a Frictional Labor Market (Juan J. Dolado, Étienne Lalé, Hélène Turon)
Project Reports
Le Québec devrait-il augmenter les taxes à la consommation? (David Leung, Markus Poschke)
Modélisation de règles budgétaires pour l’après-COVID (Bryan Campbell, Michel Magnan, Benoit Perron, Molivann Panot)
Documenter l’évolution de la demande des compétences liées aux STIM (Mikhael Deutsch-Heng, Benoit Dostie, Genevieve Dufour)
All publications