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Productivity, the terms of trade and the real exchange rate : the Balassa-Samuelson hypothesis revisited
Choudhri, Ehsan U. - 2009
allows product differentiation (within the traded and nontraded goods sectors) with the number of firms determined … of substitution between home and foreign traded goods (within the range of estimates suggested in the literature), for … example, can make the effect of a traded-goods productivity improvement on the real exchange rate negative or positive, as …
Persistent link: https://www.econbiz.de/10003933283
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Why Do Canadian Firms Invest and Operate Abroad? Implications for Canadian Exports
Coiteux, Martin; Rizzetto, Patrick; Suchanek, Lena; … - Bank of Canada - 2014
Canadian foreign direct investment and sales of Canadian multinational firms’ operations abroad, particularly in the manufacturing industry and in the United States, have accelerated sharply over the past decade. At the same time, although foreign demand has accelerated following the Great...
Persistent link: https://www.econbiz.de/10011097371
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The Carry Trade, Portfolio Diversification, and the Adjustment of the Japanese Yen
Winters, Corinne - Bank of Canada - 2008
In this paper, the author considers whether fundamentals or other factors can explain the yen's ongoing weakness. In particular, the importance of capital outflows due to the carry trade and longer-term portfolio investment outflows, which may be delaying the adjustment of the yen, are...
Persistent link: https://www.econbiz.de/10005162380
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The Impact of Common Currencies on Financial Markets: A Literature Review and Evidence from the Euro Area
Karlinger, Liliane - Bank of Canada - 2002
Persistent link: https://www.econbiz.de/10005220960
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Fire-Sale FDI or Business as Usual?
Alquist, Ron; Mukherjee, Rahul; Tesar, Linda - Bank of Canada - 2013
Using a new data set, we examine the characteristics and dynamics of cross-border mergers and acquisitions during emerging-market financial crises, that is, so-called “fire-sale FDI.” Our findings shed fresh light on whether the transactions undertaken during crisis periods differ in...
Persistent link: https://www.econbiz.de/10010667180
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The Impact of Sovereign Wealth Funds on International Financial Stability
Gomes, Tamara - Bank of Canada - 2008
Over the recent period, many emerging-market economies and commodity-exporting nations have experienced unprecedented growth and accumulated substantial amounts of foreign exchange reserves. The management of these foreign reserves has led to the emergence of important financial actors:...
Persistent link: https://www.econbiz.de/10005162381
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How Important Is Liquidity Risk for Sovereign Bond Risk Premia? Evidence from the London Stock Exchange
Alquist, Ron - Bank of Canada - 2008
This paper uses the framework of arbitrage-pricing theory to study the relationship between liquidity risk and …
Persistent link: https://www.econbiz.de/10005162431
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Futures Markets, Oil Prices and the Intertemporal Approach to the Current Account
Arbatli, Elif C. - Bank of Canada - 2008
framework for investigating the empirical evidence for the intertemporal approach. As the theory predicts, petroleum exporters …
Persistent link: https://www.econbiz.de/10005162451
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Private Capital Flows, Financial Development, and Economic Growth in Developing Countries
Bailliu, Jeannine N. - Bank of Canada - 2000
An important issue in the debate over the desirability of freer capital mobility for developing countries is whether capital flows have significant effects on economic growth. Proponents of capital account liberalization cite the growth-promoting attributes of capital inflows as a key benefit of...
Persistent link: https://www.econbiz.de/10005536891