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The Case for Trills: Giving Canadians and their Pension Funds a Stake in the Wealth of the Nation

Mark Kamstra () and Robert Shiller ()

C.D. Howe Institute Commentary, 2008, issue 271

Abstract: This study proposes that the Government of Canada issue a new debt security, the “Trill,” which would essentially offer Canadian investors an equity stake in the Canadian economy. The Trill is so-named because its coupon payment would be one-trillionth of Canada’s GDP. Similar to shares issued by corporations paying a fraction of corporate earnings in dividends, the Trill would pay a fraction of the “earnings” of Canada. Coupon payments would rise and fall with the GDP.

Keywords: pension papers; governance and public institutions (search for similar items in EconPapers)
JEL-codes: G23 J32 (search for similar items in EconPapers)
Date: 2008
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