This paper examines the movement of the Canadian dollar over the 1971-76 period. Although Canadian prices increased substantially more than U.S. prices over this period, there was no tendency for a systematic depreciation of the Canadian dollar. To explain this phenomenon requires the...

In this study, the authors examine three aspects of the Canadian experience with flexible exchange rates in the 1970s: the movements in the Canadian dollar-U.S. dollar exchange rate, the sharp growth of external borrowings by Canadians in the 1974-76 period, and the real effects of relative...

In this study, the authors examine three aspects of the Canadian experience with flexible exchange rates in the 1970s: the movements in the Canadian dollar-U.S. dollar exchange rate, the sharp growth of external borrowings by Canadians in the 1974-76 period, and the real effects of relative...

This paper examines the movement of the Canadian dollar over the 1971-76 period. Although Canadian prices increased substantially more than U.S. prices over this period, there was no tendency for a systematic depreciation of the Canadian dollar. To explain this phenomenon requires the...