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Exchange rate pass-through and monetary policy : how strong is the link?

Murchison, Stephen - 2009

consumer price index has declined in Canada since the early 1980s and is currently close to zero. Taylor (2000) suggests that … due to a change in the parameters of the central bank's policy rule. Evidence is presented for Canada indicating that … suggest that increases in the aggressiveness of policy consistent with that observed for Canada are sufficient to effectively …

Persistent link: https://www.econbiz.de/10003933342

Productivity, the terms of trade and the real exchange rate : the Balassa-Samuelson hypothesis revisited

Choudhri, Ehsan U. - 2009

The paper examines how the Balassa-Samuelson hypothesis is affected by a modern variation of the standard model that allows product differentiation (within the traded and nontraded goods sectors) with the number of firms determined exogenously or endogenously. The hypothesis is found to be...

Persistent link: https://www.econbiz.de/10003933283

External Stability, Real Exchange Rate Adjustment and the Exchange Rate Regime in Emerging-Market Economies

Gervais, Olivier; Schembri, Lawrence; Suchanek, Lena - Bank of Canada - 2011

In emerging-market economies, real exchange rate adjustment is critical for maintaining a sustainable current account position and thereby for helping to reduce macroeconomic and financial instability. The authors examine empirically two related hypotheses: (i) that real exchange rate...

Persistent link: https://www.econbiz.de/10009323066

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

Real Exchange Rate Persistence in Dynamic General-Equilibrium Sticky-Price Models: An Analytical Characterization

Bouakez, Hafedh - Bank of Canada - 2003

This paper assesses analytically the ability of dynamic general-equilibrium sticky-price models to generate persistent real exchange rate fluctuations. It develops a tractable general-equilibrium model with Calvo-type price stickiness. The model has a closed-form solution and the persistence of...

Persistent link: https://www.econbiz.de/10005673369