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Productivity, the Terms of Trade, and the Real Exchange Rate: The Balassa-Samuelson Hypothesis Revisited

Choudhri, Ehsan U.; Schembri, Lawrence L. - Bank of Canada - 2009

example, can make the effect of a traded-goods productivity improvement on the real exchange rate negative or positive, as … on the relationship between productivity and the real exchange rate. …

Persistent link: https://www.econbiz.de/10004976803

Real Effects of Collapsing Exchange Rate Regimes: An Application to Mexico

Osakwe, Patrick; Schembri, Lawrence - Bank of Canada - 1999

This paper examines the impact of a collapsing exchange rate regime on output in an open economy in which shocks to capital flows and exports predominate. A sticky-price rational expectations model is used to compare the variability of output under the collapsing regime to that under alternative...

Persistent link: https://www.econbiz.de/10005673255

Nominal Rigidity, Desired Markup Variations, and Real Exchange Rate Persistence

Bouakez, Hafedh - Bank of Canada - 2002

Persistent link: https://www.econbiz.de/10005808283

Exchange Rate Pass-through and Monetary Policy: How Strong is the Link?

Murchison, Stephen - Bank of Canada - 2009

this phenomenon, which has been observed for several other countries, may be due to a change in the behaviour of inflation …. Specifically, moving from a high to a low-inflation environment has reduced the expected persistence of cost changes and, by … policy has responded more aggressively to inflation deviations over the low pass-through period relative to the high pass …

Persistent link: https://www.econbiz.de/10008517878

The Sensitivity of Producer Prices to Exchange Rates: Insights from Micro Data

Cao, Shutao; Dong, Wei; Tomlin, Ben - Bank of Canada - 2012

This paper studies the sensitivity of Canadian producer prices to the Canada-U.S. exchange rate. Using a unique product-level price data set, we estimate and analyze the impact of movements in the exchange rate on both domestic and export producer prices. First, we find that both domestic and...

Persistent link: https://www.econbiz.de/10010559416

Characterization of the Dynamic Effects of Fiscal Shocks in a Small Open Economy

Rebei, Nooman - Bank of Canada - 2004

consumption, investment, exports, imports, and inflation; however, the model fails to predict the real exchange rate reaction. …

Persistent link: https://www.econbiz.de/10005162386

Canada and the IMF: Trailblazer or Prodigal Son?

Bordo, Michael; Gomes, Tamara; Schembri, Lawrence - Bank of Canada - 2009

Canada played an important role in the postwar establishment of the International Monetary Fund (IMF), yet it was also the first major member to challenge the orthodoxy of the BrettonWoods par value system by abandoning it in 1950 in favour of a floating, market-determined exchange rate....

Persistent link: https://www.econbiz.de/10005673248

The Exchange Rate and Canadian Inflation Targeting

Ragan, Christopher - Bank of Canada - 2005

The author provides a non-technical explanation of the role played by the exchange rate in Canada's inflation …-targeting monetary policy. He reviews the motivation for inflation targeting and describes the monetary transmission mechanism. Though …

Persistent link: https://www.econbiz.de/10005808322

Import Price Dynamics in Major Advanced Economies and Heterogeneity in Exchange Rate Pass-Through

Dees, Stephane; Burgert, Matthias; Parent, Nicolas - Bank of Canada - 2008

This paper aims at showing heterogeneity in the degree of exchange rate pass-through to import prices in major advanced economies at three different levels: 1) across destination markets; 2) across types of exporters (distinguishing developed economy from emerging economy exporters); and 3) over...

Persistent link: https://www.econbiz.de/10005162475

A No-Arbitrage Analysis of Macroeconomic Determinants of Term Structures and the Exchange Rate<br>

Chabi-Yo, Fousseni; Yang, Jun - Bank of Canada - 2007

We study the joint dynamics of macroeconomic variables, bond yields, and the exchange rate in an empirical two-country New-Keynesian model complemented with a no-arbitrage term structure model. With Canadian and US data, we are able to study the impact of macroeconomic shocks from both countries...

Persistent link: https://www.econbiz.de/10005162497