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In the wake of the Great Depression, the Canadian government embarked on a stunning reversal in its commercial policy. A key element of its response was the promotion of intra-imperial trade at the Imperial Economic Conference of 1932. This paper addresses whether or not Canadian trade was able...
Persistent link: https://www.econbiz.de/10012461415
This work explores how Argentina overcame the Great Depression and asks whether active macroeconomic interventions made any contribution to the recovery. In particular, we study Argentine macroeconomic policy as it deviated from gold-standard orthodoxy after the final suspension of...
Persistent link: https://www.econbiz.de/10012471138
We use new data on manufacturing in Canada to quantify the impact of globalization on the growth and composition of … experienced faster growth. Consistent with the literature on economic development in Canada, we find that scale economies …
Persistent link: https://www.econbiz.de/10012481264
We use a detailed micro dataset on product availability to construct a direct high-frequency measure of consumer product shortages during the 2020-2021 pandemic. We document a widespread multi-fold rise in shortages in nearly all sectors early in the pandemic. Over time, the composition of...
Persistent link: https://www.econbiz.de/10012629429
We compare patterns of unemployment and joblessness between Canada and the U.S. during the Great Recession. Similar to … previous findings for the U.S. in Kroft et al. [2016], we document a rise in long-term unemployment in Canada. This increase is … the extended matching model, we create a new historical vacancy series for Canada based on relative employment in …
Persistent link: https://www.econbiz.de/10012480887
open economy model for Canada that decomposes output fluctuations into sources identifiable with world and country …-specific disturbances. We find that the onset, depth and duration of output collapse in both Canada and the U.S. are primarily attributable …
Persistent link: https://www.econbiz.de/10012474427
States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates … increased moderately in Canada. More recent data also show that, unlike Germany and Canada, the U.S. unemployment rate remains …
Persistent link: https://www.econbiz.de/10012457972
What are the effects of a temporary lockdown of the economy? Do firms' deteriorating balance sheets and labor market frictions propagate and prolong the effects? We answer these questions in a model with financial and labor market frictions. The model makes quantitative predictions about the...
Persistent link: https://www.econbiz.de/10012510582
At the onset of the COVID-19 economic crisis, as in other crisis episodes, the flight to safety was accompanied by a rapid appreciation of "safe haven" currencies. We quantify currency-induced balance sheet effects for total external positions as well as for individual asset classes using new...
Persistent link: https://www.econbiz.de/10012629497
In response to the Covid-19 crisis, 186 countries implemented direct cash transfers to households, and 181 introduced in-kind programs that lowered the cost of utilities such as electricity, water, transport, and mobile money. Do cash or in-kind transfers generate greater welfare improvements?...
Persistent link: https://www.econbiz.de/10012599376