Exchange rates - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T14:14:32+00:00The Exchange Rate, Productivity, and the Standard of Living
https://www.bankofcanada.ca/wp-content/uploads/2010/06/r001b-e.pdf
This article examines the recent proposition that the decline in Canada's standard of living relative to that of the United States is causally related to the decline in our exchange rate. The authors explore the main channels through which the exchange rate and the standard of living could be related—productivity and the terms of trade—focusing mainly on productivity. They conclude that the decline in world commodity prices and weak demand for domestic output were affecting both Canada's standard of living and the exchange rate and that the flexible exchange rate regime itself did not play an independent role.1999-12-15T09:39:38+00:00enThe Exchange Rate, Productivity, and the Standard of Living1999-12-15Real Exchange Rate Indexes for the Canadian Dollar
https://www.bankofcanada.ca/wp-content/uploads/2010/06/r994c-e.pdf
In this article, the authors explain the methodology used to construct real exchange rate (RER) indexes. They also compare and assess various Canadian RER indexes from both an empirical and conceptual standpoint.
The authors conclude that both theory and empirical evidence suggest that the best RER indexes are those based on unit labour costs. They note, however, that, for practical reasons, policy-makers should also consider RER indexes based on prices when formulating monetary policy.1999-11-14T08:50:14+00:00enReal Exchange Rate Indexes for the Canadian Dollar1999-11-14Canada's Exchange Rate Regime and North American Economic Integration: The Role of Risk-Sharing Mechanisms
https://www.bankofcanada.ca/1999/10/working-paper-1999-17/
Our contribution in this paper is threefold. First, we survey the empirical literature on consumption smoothing mechanisms of regional economic shocks. Second, building on the work of Asdrubali et al. (1996), we present evidence on the role played by various smoothing mechanisms for specific economic shocks affecting Canadian provinces. Third, we assess whether smoothing mechanisms […]1999-10-04T08:48:03+00:00enCanada's Exchange Rate Regime and North American Economic Integration: The Role of Risk-Sharing Mechanisms1999-10-04Exchange rate regimesExchange ratesWorking Paper 1999-17 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp99-17.pdfCanada's Exchange Rate Regime and North American Economic Integration: The Role of Risk-Sharing MechanismsZahir AntiaRamdane DjoudadPierre St-AmantOctober 1999FF3F33F36GG1G15Why Canada Needs a Flexible Exchange Rate
https://www.bankofcanada.ca/1999/07/working-paper-1999-12/
This paper explores the arguments for and against a common currency for Canada and the United States and attempts to determine whether such an arrangement would offer any significant advantages for Canada compared with the present flexible exchange rate system. The paper first reviews the theoretical arguments advanced in the economics literature in support of fixed and flexible currency arrangements. A discussion of Canada's past experience with the two exchange rate systems follows, after which there is a survey of the empirical evidence published on Canada's current and prospective suitability for some form of fixed currency arrangement with the United States. The final section of the paper examines critically a number of concerns raised about the behaviour of the current flexible exchange rate system.1999-07-03T15:23:48+00:00enWhy Canada Needs a Flexible Exchange Rate1999-07-03Exchange ratesWorking Paper 1999-12https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp99-12.pdfWhy Canada Needs a Flexible Exchange RateJohn MurrayJuly 1999FF3F31Real Effects of Collapsing Exchange Rate Regimes: An Application to Mexico
https://www.bankofcanada.ca/1999/04/working-paper-1999-10/
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 fixed and flexible regimes. Output is found to […]1999-04-13T15:14:55+00:00enReal Effects of Collapsing Exchange Rate Regimes: An Application to Mexico1999-04-13Exchange ratesWorking Paper 1999-10 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp99-10.pdfReal Effects of Collapsing Exchange Rate Regimes: An Application to MexicoPatrick OsakweLawrence L. SchembriApril 1999FF3F31F4F41The Exchange Rate Regime and Canada's Monetary Order
https://www.bankofcanada.ca/1999/03/working-paper-1999-7/
It is a mistake to debate the merits of alternative exchange rate regimes for Canada independently of other features of the monetary order. A coherent order requires a well-defined goal for monetary policy, one that the authorities are capable of achieving, and that anchors private sector expectations. For it to be liberal, the relevant authorities […]1999-03-03T14:30:57+00:00enThe Exchange Rate Regime and Canada's Monetary Order1999-03-03Exchange ratesMonetary policy frameworkWorking Paper 1999-7 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp99-7.pdfThe Exchange Rate Regime and Canada's Monetary OrderDavid LaidlerMarch 1999EE5E52FF3F31An Intraday Analysis of the Effectiveness of Foreign Exchange Intervention
https://www.bankofcanada.ca/1999/02/working-paper-1999-4/
This paper assesses the effectiveness of Canada's official foreign exchange intervention in moderating intraday volatility of the Can$/US$ exchange rate, using a 2-1/2-year sample of 10-minute exchange rate data. The use of high frequency data (higher than daily frequency) should help in assessing the impact of intervention since the foreign exchange market is efficient and […]1999-02-03T11:00:36+00:00enAn Intraday Analysis of the Effectiveness of Foreign Exchange Intervention1999-02-03Exchange ratesFinancial marketsWorking Paper 1999-4 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp99-4.pdfAn Intraday Analysis of the Effectiveness of Foreign Exchange InterventionNeil BeattieJean-François FillionFebruary 1999FF3F31GG1G15