The Exchange Rate, Productivity, and the Standard of Living
AbstractThis 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.
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Bibliographic InfoArticle provided by Bank of Canada in its journal Bank of Canada Review.
Volume (Year): 1999-2000 (2000)
Issue (Month): Winter ()
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- Przemek Kowalski, 2003. "Nominal and Real Convergence in Alternative Exchange Rate Regimes in Transition Countries: Implications for the EMU Accession," CASE Network Studies and Analyses 0270, CASE-Center for Social and Economic Research.
- Pablo Astorga, 2007. "Real Exchange Rates in Latin America: what does the 20th Century reveal?," Working Papers in Economic History wp07-03, Universidad Carlos III, Departamento de Historia Económica e Instituciones.
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