The Exchange Rate and Canadian Inflation Targeting Staff Working Paper 2005-34 Christopher Ragan The author provides a non-technical explanation of the role played by the exchange rate in Canada's inflation-targeting monetary policy. Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates, Inflation targets, Monetary policy implementation JEL Code(s): E, E5, E50, E52, F, F4, F41
Has Exchange Rate Pass-Through Really Declined in Canada? Staff Working Paper 2005-29 Hafedh Bouakez, Nooman Rebei Several empirical studies suggest that exchange rate pass-through has declined in recent years in industrialized countries. Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Economic models, Exchange rates, Inflation and prices, International topics JEL Code(s): F, F3, F4
The Effects of the Exchange Rate on Investment: Evidence from Canadian Manufacturing Industries Staff Working Paper 2005-22 Tarek Harchaoui, Faouzi Tarkhani, Terence Yuen Using industry-level data for 22 Canadian manufacturing industries, the authors examine the relationship between exchange rates and investment during the period 1981–97. Content Type(s): Staff research, Staff working papers Topic(s): Domestic demand and components, Exchange rates JEL Code(s): D, D2, D24, F, F4
Labour Market Adjustments to Exchange Rate Fluctuations: Evidence from Canadian Manufacturing Industries Staff Working Paper 2005-14 Danny Leung, Terence Yuen The authors provide some of the first empirical evidence on labour market adjustments to exchange rate movements in Canadian manufacturing industries. Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates, Labour markets JEL Code(s): E, E2, E23, F, F4
Do Exchange Rates Affect the Capital-Labour Ratio? Panel Evidence from Canadian Manufacturing Industries Staff Working Paper 2005-12 Danny Leung, Terence Yuen Using industry-level data for Canadian manufacturing industries from 1981 to 1997, the authors find empirical evidence of a negative relationship between the capital-labour ratio and the user cost of capital relative to the price of labour. Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates, Productivity JEL Code(s): F, F4
Y a-t-il eu surinvestissement au Canada durant la seconde moitié des années 1990? Staff Working Paper 2005-5 Sylvain Martel This study on overinvestment differs from the existing literature in that investment in machinery and equipment is modelled as a structural vector autoregression with identification achieved by imposing long-run restrictions, as in Blanchard and Quah (1989). Content Type(s): Staff research, Staff working papers Topic(s): Domestic demand and components JEL Code(s): C, C3, C32, E, E3, E37, F, F4, F47
Commodity-Linked Bonds: A Potential Means for Less-Developed Countries to Raise Foreign Capital Staff Working Paper 2004-20 Joseph Atta-Mensah The author suggests that commodity-linked bonds could provide a potential means for less-developed countries (LDCs) to raise money on the international capital markets, rather than through standard forms of financing. Content Type(s): Staff research, Staff working papers Topic(s): Development economics, Financial markets, International topics JEL Code(s): F, F3, F30, F34, F4, F49, G, G1, G11, G13, O, O1, O16
Modélisation « PAC » du secteur extérieur de l'économie américaine Staff Working Paper 2004-3 Marc-André Gosselin, René Lalonde In this paper, the authors use polynomial adjustment cost (PAC) models to analyze and forecast the main components of the U.S. trade sector. Content Type(s): Staff research, Staff working papers Topic(s): Domestic demand and components, Econometric and statistical methods, International topics JEL Code(s): C, C3, C32, E, E3, E37, F, F4, F47
A Structural VAR Approach to the Intertemporal Model of the Current Account Staff Working Paper 2003-42 Takashi Kano The intertemporal current account approach predicts that the current account of a small open economy is independent of global shocks, and that responses of the current account to country-specific shocks depend on the persistence of the shocks. The author shows that these predictions impose cross-equation restrictions (CERS) on a structural vector autoregression (SVAR). Content Type(s): Staff research, Staff working papers Topic(s): Balance of payments and components, Monetary aggregates JEL Code(s): F, F3, F32, F4, F41
Real Exchange Rate Persistence in Dynamic General-Equilibrium Sticky-Price Models: An Analytical Characterization Staff Working Paper 2003-35 Hafedh Bouakez This paper assesses analytically the ability of dynamic general-equilibrium sticky-price models to generate persistent real exchange rate fluctuations. It develops a tractable general-equilibrium model with Calvo-type price stickiness. Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Exchange rates, International topics JEL Code(s): F, F3, F31, F4, F41