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Author : Lawrence H. Officer
Publisher :
ISBN 13 :
Total Pages : 319 pages
Book Rating : 4.:/5 (977 download)
Download or read book An Economic Model of Canada Under the Fluctuating Exchange Rate written by Lawrence H. Officer and published by . This book was released on 1968 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Lawrence H. Officer
Publisher : Harvard University Press
ISBN 13 : 9780674225008
Total Pages : 340 pages
Book Rating : 4.2/5 (25 download)
Download or read book An Econometric Model of Canada Under the Fluctuating Exchange Rate written by Lawrence H. Officer and published by Harvard University Press. This book was released on 1968 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: Between September 30, 1950, and May 2, 1962, the value of the Canadian dollar was allowed to fluctuate. This situation, in conjunction with an abundance of Canadian quantitative data, provided Lawrence Officer with a unique opportunity to test theories concerning an economy under the influence of a fluctuating exchange rate. In order to explain the fluctuations that occurred, Mr. Officer set up a model of Canada's economy for the relevant time period. In contrast to conventional models, the exchange rate is the key variable in the system and the foreign sector receives particular attention because of its primary role in determining the exchange rate.
Author : Lawrence Howard Officer
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (78 download)
Download or read book An Econometric Model of the Canadian Economy Under the Fluctuating Exchange Rate written by Lawrence Howard Officer and published by . This book was released on 1964 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Vivek B. Arora
Publisher : International Monetary Fund
ISBN 13 : 1451974949
Total Pages : 21 pages
Book Rating : 4.4/5 (519 download)
Download or read book Economic Integration and the Exchange Rate Regime written by Mr.Vivek B. Arora and published by International Monetary Fund. This book was released on 2001-05-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Canadian experience with a floating exchange rate regime can shed some light on the question of whether A question of current interest in many parts of the world is whether with growing economic integration among groups of countries makes a fixed exchange rate, or even a common currency, becomes more desirable. This paper looks at the lessons that one may draw from tThe Canadian experience, with a floating exchange rate regime, especially since the inception of the 1989 U.S.-Canada Free Trade Agreement, suggests. We find that exchange rate flexibility has not prevented economic integration between Canada and the United States from increasing substantially, during the 1990s, and has played a useful role in buffering the Canadian economy against asymmetric external shocks. A fixed exchange rate thus does not seem to be a prerequisite for economic integration. It may, however, yield substantial have benefits for some countries that lack monetary credibility or that may be tempted by self-destructive beggar-thy-neighbor policies.
Author : Emmanuel Erem
Publisher : GRIN Verlag
ISBN 13 : 3668903921
Total Pages : 61 pages
Book Rating : 4.6/5 (689 download)
Download or read book The Effect Of Exchange Rate Volatility On Exports written by Emmanuel Erem and published by GRIN Verlag. This book was released on 2019-03-20 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2018 in the subject Economics - International Economic Relations, grade: A, National University of Ireland, Maynooth (Department of Economics, Finance and Accounting), course: MSc Economic and Financial Risk Analysis, language: English, abstract: The purpose of this thesis is to examine the effect of real exchange rate volatility between the Canadian and US dollars on real exports from Canada to US. The study uses quarterly data from 1960-2017. The GARCH (1, 1) is used to model exchange rate volatility. After finding the variables are non-stationary with no co-integration, a VAR (Vector Auto regression) model is used to investigate the short-run relationship in the variables using Granger causality, impulse response functions and variance decomposition estimates. The results reveal that the effect of exchange rate volatility is of mixed signs with coefficients that are not statistically significant. The thesis is divided into 7 chapters; chapter 2 gives an overview of important literature and contributions by researchers over the years specifically covering the relationship between exchange rate volatility and trade, exchange rate regimes, exchange rate target zones and inflation targeting. Chapter 3 presents the model and data used, definitions of the variables and the predictions of the model. Chapter 4 gives a theoretical and econometric overview of the unit root and co-integration tests. Chapter 5 gives the data output of the empirical results and discussions of test results. This output is presented using graphs and tables. Chapter 6 is a presentation of the limitations of the model and possible areas of improvement. Lastly, chapter 7 concludes and gives policy recommendations moving forward. Exchange rates are a key player in any economy that is engaging in international trade. A stable monetary policy system and financial sector play a key role in ensuring the exchange rate stability of the currency of a country. Firms and traders rely on prevailing exchange rates to forecast amounts to produce, import and export; thus are very much affected by the exchange rate volatility. In addition to this, there is a currency conversion cost in international trade. Traders use a number of products in financial markets to hedge against currency fluctuations; these include among others forwards contracts. This is especially true for short-term hedging than long-term hedging.
Author : John A. Stovel
Publisher : Harvard University Press
ISBN 13 : 9780674092501
Total Pages : 386 pages
Book Rating : 4.0/5 (925 download)
Download or read book Canada in the World Economy written by John A. Stovel and published by Harvard University Press. This book was released on 1959 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: In his study of Canada, John A. Stovel examines the changes in that country's balance of payments and balance of trade from confederation to the present day, including as part of his examination historical, statistical, and theoretical points of view. The author also reexamines critically--and finds himself in sharp disagreement with--Jacob Viner's classic in the field, Canada's Balance of International Indebtedness, 1900-1913, which has long been considered the definitive analysis of the subject. Developing in Part I an eclectic theory of international balance of payments, and in Part II concentrating on the Canadian balance of trade and balance of payments in relation to economic developments preceding World War I, Stovel carefully prepares the foundation for a critique of Viner's analysis of the period 1900-1913. Discussing the inadequacy of the Mill-Taussig theory and its empirical verification, and observing the extent to which the newer theoretical developments have afforded increased understanding, Stovel criticizes Viner's statistics and the use to which they were put. He delineates with telling clarity the mutual interaction of many elements in cyclical growth development, as opposed to the oversimplified and inadequate causal links of the earlier theory. In addition to the wealth of analysis of the earlier period, the author investigates the interwar period, with the postwar boom and the depression of the thirties, presenting a careful analysis of the structural changes in the balance of payments during this period as well as indicating the change in Canada's relation to the United States and Great Britain. The concluding section of the book deals with the period following World War II, and the author indicates the possible lessons to be learned from Canada's experiences and the improvements in government policy that have taken place, especially with respect to exchange rates.
Author : Michael D. Bordo
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.0/5 ( download)
Download or read book Canada's Pioneering Experience with a Flexible Exchange Rate in the 1950s written by Michael D. Bordo and published by . This book was released on 2007 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper revisits Canada's pioneering experience with floating exchange rate over the period 1950-1962. It examines whether the floating rate was the best option for Canada in the 1950s by developing and estimating a New Keynesian small open economy model of the Canadian economy. The model is then used to conduct a counterfactual analysis of the impact of different monetary policies and exchange rate regimes. The main finding indicates that the flexible exchange rate helped reduce the volatility of key macro-economic variables. The Canadian monetary authorities, however, clearly did not understand all of the implications of conducting monetary policy under a flexible exchange rate and a high degree of capital mobility. The paper confirms that monetary policy was more volatile in the post-1957 period and Canada's macroeconomic performance suffered as a result.
Author : Eric Helleiner
Publisher : McGill-Queen's Press - MQUP
ISBN 13 : 0773530568
Total Pages : 349 pages
Book Rating : 4.7/5 (735 download)
Download or read book Towards North American Monetary Union? written by Eric Helleiner and published by McGill-Queen's Press - MQUP. This book was released on 2006 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many believe that Canada's deepening economic integration with the United States and the worldwide trend towards currency blocs will eventually lead to a North American monetary union. In the first detailed analysis of Canadian exchange rate politics, Eric Helleiner challenges this view.Helleiner finds little support in the US for the concessions that would be necessary to make a North American monetary union palatable in Canada. Comparing the US Federal Reserve and the European Monetary Union, he argues that Canada would exercise far less influence within a North American monetary union than individual countries do within the European community. He also analyses the seemingly paradoxical support of Quebec sovereignists for free trade and monetary union.Towards North American Monetary Union'explores Canada's unusually strong commitment throughout the twentieth century to a floating exchange rate for its national currency - a commitment that Heilleiner argues is likely to endure.
Author : Sven Arndt
Publisher :
ISBN 13 :
Total Pages : 178 pages
Book Rating : 4.:/5 (35 download)
Download or read book Disequilibrium in an Open Economy written by Sven Arndt and published by . This book was released on 1964 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Economic Council of Canada
Publisher :
ISBN 13 :
Total Pages : 138 pages
Book Rating : 4.:/5 (158 download)
Download or read book Impact of Foreign Prices & Interest Rates on Canadian Economy Under Alternative Monetary and Exchange Rate Regimes written by Economic Council of Canada and published by . This book was released on 1980 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Harry G. Johnson
Publisher : McGill-Queen's Press - MQUP
ISBN 13 : 9780773529335
Total Pages : 428 pages
Book Rating : 4.5/5 (293 download)
Download or read book The Canadian Quandary written by Harry G. Johnson and published by McGill-Queen's Press - MQUP. This book was released on 2005 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: Harry G. Johnson is best known as one of Canada's most respected economists, particularly for his research on international trade and finance and monetary policy. But Johnson was also a prolific and influential public intellectual. A sharp and popular polemicist, he wrote on a wide range of subjects, from advertising to affluence to foreign investment, and was published in Punch and The Spectator as well as all the leading economic journals. The Canadian Quandary is a collection of "unbuttoned" pieces written in Johnson's witty and acerbic style between 1958 and 1963. Focusing on Canadian policy on trade and foreign policy, the volume includes Johnson's classic dismemberment of the Canadian nationalist movement. Although Trudeau's Foreign Investment Review Agency and National Energy Policy have been dismantled, economic nationalism persists; it is a testament to both the lucidity of Johnson's mind and the vigour and clarity of his writing that many of his opinions on this debate remain fresh, interesting, and relevant. William Watson's introduction provides an intriguing look at Johnson's life and work.
Author : Jeffrey R. Campbell
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.:/5 (318 download)
Download or read book Real Exchange Rate Fluctuations and the Dynamics of Retail Trade Industries on the U.S.-Canada Border written by Jeffrey R. Campbell and published by . This book was released on 2001 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumers living near the U.S.-Canada border can shift their expenditures between the two countries, so real exchange rate fluctuations can act as demand shocks to border areas' retail trade industries. Using annual county-level data, we estimate the effects of real exchange rates on the number of establishments and their average payroll in border counties for four retail industries. In three of the four industries we consider, the number of operating establishments responds either contemporaneously or with a lag of one year to real exchange rate movements. For these industries, the response of retailers' average size is less pronounced. The rapid response of net entry is inconsistent with any model of persistent deviations from purchasing power parity that depends on retailers' costs of changing nominal prices.
Author : Harry G. Johnson
Publisher : University of Toronto Press
ISBN 13 : 1487590571
Total Pages : 68 pages
Book Rating : 4.4/5 (875 download)
Download or read book Canada in a Changing World Economy written by Harry G. Johnson and published by University of Toronto Press. This book was released on 1962-12-15 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The echoes of Laurier's remarks about Canada and the twentieth century are taking a long time to fade away. It is one of the purposes of Professor Johnson's Alan B. Plaunt Lectures (given at Carleton University in 1962) to silence them, for they can prove dangerous and misleading—like a siren song—in the formulation of Canadian economic policy at this time. The success of the Common Market, Britain's request for membership. President Kennedy's desire for tariff flexibility and reductions in the United States, and the recent stagnation in the North American economy (accentuated in Canada by an emphasis on monetary stability)—these are signs of change in the economic climate of the world. The requisite adaptations are the most important problem facing those who govern the economic life of this country, and they must be faced realistically to ensure Canada's continuing economic growth. Professor Johnson analyses his subject with his customary authoritative skill and lucidity. Written in non-technical language, this book presents an ideal summary of the contemporary economic world as it affects Canada.
Author : Michael D. Bordo
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (129 download)
Download or read book Canada's Pioneering Experience with a Flexible Exchange Rate in the 1950s written by Michael D. Bordo and published by . This book was released on 2010 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper revisits Canada's pioneering experience with floating exchange rate over the period 1950-1962. It examines whether the floating rate was the best option for Canada in the 1950s by developing and estimating a New Keynesian small open economy model of the Canadian economy. The model is then used to conduct a counterfactual analysis of the impact of different monetary policies and exchange rate regimes. The main finding indicates that the flexible exchange rate helped reduce the volatility of key macro-economic variables. The Canadian monetary authorities, however, clearly did not understand all of the implications of conducting monetary policy under a flexible exchange rate and a high degree of capital mobility. The paper confirms that monetary policy was more volatile in the post-1957 period and Canada's macroeconomic performance suffered as a result.
Author : Richard G. Harris
Publisher :
ISBN 13 :
Total Pages : 74 pages
Book Rating : 4.3/5 (512 download)
Download or read book Trade, Money, and Wealth in the Canadian Economy written by Richard G. Harris and published by . This book was released on 1993 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alex N. McLeod
Publisher : New York, NY : Devine Institute of Finance, Graduate School of Business Administration, New York University
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.X/5 (1 download)
Download or read book A Critique of the Fluctuating-exchange-rate Policy in Canada written by Alex N. McLeod and published by New York, NY : Devine Institute of Finance, Graduate School of Business Administration, New York University. This book was released on 1965 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Richard E. Caves
Publisher : Harvard University Press
ISBN 13 : 9780674094857
Total Pages : 460 pages
Book Rating : 4.0/5 (948 download)
Download or read book Capital Transfers and Economic Policy: Canada, 1951-1962 written by Richard E. Caves and published by Harvard University Press. This book was released on 1971 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: Between 1951 and 1962 nearly ten billion dollars in long-term capital (both direct investment and purchase of securities) flowed into Canada. This massive amount represented one third of all long-term capital moving among industrial nations. Its transfer marked the first time since before World War I that the world witnessed such a large-scale international movement of capital motivated primarily by a prospect of higher rates of return. In Capital Transfers and Economic Policy the authors test the theory of the causes and effects of international capital movements against the evidence drawn from Canada's experience. They explore Canada's adjustment to capital flows and show how the operation of her economic policy is affected by the sensitivity of capital flows to the country's interest rates and foreign-exchange rate. Their brilliant analysis is particularly valuable in light of current trends in capital flows among industrial nations and the June 1970 return of the Canadian dollar to a flexible exchange rate, which put the economy in a working situation similar to that of the fifties.
