Trade integration
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Trade and Diffusion of Embodied Technology: An Empirical Analysis
Using data from patents, citations, inter-sectoral sales and customs, we examine the international diffusion of technology through imports of sectoral knowledge and production inputs. We develop an instrumental variable strategy to identify the causal effects of technology embodied in imports on innovation and diffusion outcomes. -
Exports and the Exchange Rate: A General Equilibrium Perspective
How do a country’s exports change when its currency depreciates? Does it matter which forces drive the exchange rate deprecation in the first place? We find that this relationship varies greatly depending on what drives exchange rate movements, and we conclude that the direct relationship between the exchange rate and exports is weak for Canada. -
The Impact of Globalization and Digitalization on the Phillips Curve
Globalization is in retreat, yet digitalization is on the rise. How will these trends impact inflation? -
October 7, 2021
The long and short of it: A balanced vision for the international monetary and financial system
Governor Tiff Macklem advocates for global coordination to strengthen the international monetary and financial system. -
October 7, 2021
Investing in global progress
Governor Tiff Macklem makes the case for greater cooperation to shape a stronger international monetary and financial system. -
Tariffs and the Exchange Rate: Evidence from Twitter
Do tariffs affect exchange rates? We look at President Trump’s tweets during talks on the North American Free Trade Agreement and find that anticipation of higher tariffs on imports from Canada and Mexico led to an appreciation of the US dollar relative to Canadian and Mexican currency. -
Trade and Market Power in Product and Labor Markets
Trade liberalizations increase the sales and input purchases of productive firms relative to their less productive domestic competitors. This reallocation affects firms’ market power in their product and input markets. I quantify how the labour market power of employers affects the distribution and size of the gains from trade. -
December 15, 2020
Strengthening our exports
Governor Tiff Macklem talks about the importance of trade and exports to Canada’s economic recovery. He also talks about steps policy-makers and business can take to attract investment and improve competitiveness. -
December 15, 2020
Trading for a sustainable recovery
Governor Tiff Macklem talks about how important trade is for the economic recovery. He discusses what policymakers and business leaders can do to encourage growth in trade.