November 13, 2014
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172
result(s)
Canadian Non-Energy Exports: Past Performance and Future Prospects
Staff Discussion Paper 2014-1
André Binette,
Daniel de Munnik,
Émilien Gouin-Bonenfant
Canada has continued to lose market share in the United States since the Great Recession, beyond what our bilateral competitiveness measures (relative unit labour costs) would suggest.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Balance of payments and components,
Exchange rates
JEL Code(s):
F,
F1,
F10,
F14,
F4,
F43
Endogenous Trade Participation with Incomplete Exchange Rate Pass-Through
Staff Working Paper 2013-30
Yuko Imura
This paper investigates the implications of endogenous trade participation for international business cycles, trade flow dynamics and exchange rate pass-through when price adjustments are staggered across firms.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Business fluctuations and cycles,
Exchange rates,
International topics
JEL Code(s):
F,
F1,
F12,
F4,
F44
February 21, 2013
The G-20 Framework for Strong, Sustainable and Balanced Growth: Macroeconomic Coordination Since the Crisis
Since 2009, the G-20 Framework for Strong, Sustainable and Balanced Growth has provided a mechanism for international macroeconomic policy coordination. The Framework has had some successes, including agreement on objectives for fiscal consolidation. However, post-crisis global growth has been neither strong nor balanced. Progress has also been slow in developing credible fiscal consolidation plans in some advanced countries and in increasing exchange rate flexibility in certain emerging economies. A stronger peer review process and enhanced analysis of international spillovers would increase the Framework’s influence on member policies.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Exchange rate regimes,
Fiscal policy,
International topics,
Recent economic and financial developments
JEL Code(s):
E,
E6,
E61,
F,
F5,
F53,
F55
The Evolution of Canada’s Global Export Market Share
Staff Working Paper 2012-31
Daniel de Munnik,
Jocelyn Jacob,
Wesley Sze
Following gains during the 1990s, Canada’s global market share of goods exports has declined markedly in recent years. In this regard, the constant market share analysis framework is used to decompose changes in Canada’s global market share into competitiveness and structural effects over the 1990‐2010 period, as well as to draw some comparisons to a number of other countries.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Balance of payments and components,
Exchange rates,
International topics
JEL Code(s):
F,
F1,
F10,
F14,
F4,
F43
The Sensitivity of Producer Prices to Exchange Rates: Insights from Micro Data
Staff Working Paper 2012-20
Shutao Cao,
Wei Dong,
Ben Tomlin
This paper studies the sensitivity of Canadian producer prices to the Canada-U.S. exchange rate. Using a unique product-level price data set, we estimate and analyze the impact of movements in the exchange rate on both domestic and export producer prices.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
Inflation and prices,
Market structure and pricing
JEL Code(s):
E,
E3,
E30,
F,
F3,
F31,
F4,
F41,
L,
L1,
L11
May 17, 2012
On the Adjustment of the Global Economy
Bank of Canada Review - Spring 2012
Carlos De Resende,
Claudia Godbout,
René Lalonde,
Eric Morin,
Nikita Perevalov
This article discusses three scenarios for the adjustment of the global economy. In a “baseline” scenario—which encompasses fiscal consolidation in major advanced economies, growth-friendly structural reforms in Europe and Japan, and greater exchange rate flexibility and reforms in the emerging-market economies of Asia to induce rotation of demand away from net exports—global current account imbalances […]
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Balance of payments and components,
Exchange rates,
Fiscal policy,
International topics,
Recent economic and financial developments
JEL Code(s):
F,
F3,
F32,
F37,
F4,
F42
An International Dynamic Term Structure Model with Economic Restrictions and Unspanned Risks
Staff Working Paper 2012-5
Gregory Bauer,
Antonio Diez de los Rios
We construct a multi-country affine term structure model that contains unspanned macroeconomic and foreign exchange risks. The canonical version of the model is derived and is shown to be easy to estimate.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Asset pricing,
Exchange rates,
Interest rates
JEL Code(s):
E,
E4,
E43,
F,
F3,
F31,
G,
G1,
G12,
G15
A Foreign Activity Measure for Predicting Canadian Exports
Staff Discussion Paper 2012-1
Louis Morel
The author constructs a measure of foreign activity that takes into account the composition of foreign demand for Canadian exports. It has a number of interesting features.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Balance of payments and components,
Exchange rates,
Recent economic and financial developments
JEL Code(s):
E,
E0,
E00,
F,
F1,
F17
November 17, 2011
The International Monetary System: An Assessment and Avenue for Reform
The current international monetary system is in need of reform. This article first provides an assessment of the existing system, highlighting both its strengths and weaknesses. It notes that the system has not facilitated the symmetric and timely adjustment in the real exchange rate necessary to accommodate the integration of China and other emerging-market economies into the global economy. This lack of adjustment contributed to the global financial crisis and recession and, because it is forestalling the required rotation of global demand, is hindering the global recovery. The article then discusses reform of the system that would see all systemically important countries and currency areas adopt market-based and convertible floating exchange rates supported by appropriate monetary, fiscal and financial sector policy frameworks. It also examines the roles of the G-20 countries and major international financial institutions in promoting and facilitating the system’s transition.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Exchange rate regimes,
International topics