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Energy, the Exchange Rate, and the Economy

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Author Info

  • Tamim Bayoumi
  • Martin Mühleisen

Abstract

This paper describes potential benefits from Canada''s expanding oil sands production, higher energy exports, and further improvements in the terms of trade. Contrary to the previous Canadian exchange rate literature, this paper finds that both energy and nonenergy commodity prices have an influence on the Canadian dollar, and some upward pressure on the exchange rate would therefore be expected. Model results suggest, however, that the impact on other tradable goods exports is limited.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 06/70.

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Length: 23
Date of creation: 01 Mar 2006
Date of revision:
Handle: RePEc:imf:imfwpa:06/70

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Related research

Keywords: Commodity prices; Exchange rates; Oil production; exchange rate; oil sands; real exchange rate; crude oil; natural gas; oil and gas; oil exports; real effective exchange rate; effective exchange rate; exchange rate appreciation; gas exports; gas prices; oil supply; gas production; natural gas prices; national energy; conventional oil; net oil exports; current account balance; greenhouse gas; oil market; methane gas; foreign exchange; dollar exchange rate; crude oil production; oil fields; oil reserves; oil prices; oil recovery; foreign exchange earnings; natural gas ? production; gas ? production; equilibrium exchange rate; pipeline capacity; oil export revenues; petroleum imports; oil & gas; exchange rate level; multilateral exchange rate; exchange rate literature; movements in exchange rates; real exchange rates; oil market conditions; exchange earnings; gas reserves; demand for gas; greenhouse gas emissions; oil refineries; economic theory; higher oil prices; spot price; exchange rate adjustment; geological survey; gas market; real exchange rate appreciation; gas emissions; opec; oil shocks;

This paper has been announced in the following NEP Reports:

References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. Maurice Obstfeld and Kenneth Rogoff., 2000. "The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?," Center for International and Development Economics Research (CIDER) Working Papers C00-112, University of California at Berkeley.
  2. Jaewoo Lee & Hamid Faruqee & Tamim Bayoumi, 2005. "A Fair Exchange? Theory and Practice of Calculating Equilibrium Exchange Rates," IMF Working Papers 05/229, International Monetary Fund.
  3. Laxton, Douglas & Pesenti, Paolo, 2003. "Monetary rules for small, open, emerging economies," Journal of Monetary Economics, Elsevier, vol. 50(5), pages 1109-1146, July.
  4. Tamim Bayoumi & Hamid Faruqee & Douglas Laxton & Philippe D Karam & Alessandro Rebucci & Jaewoo Lee & Ben Hunt & Ivan Tchakarov, 2004. "Gem," IMF Occasional Papers 239, International Monetary Fund.
    • Ioan Carabenciov & Charles Freedman & Roberto Garcia-Saltos & Douglas Laxton & Ondra Kamenik & Petar Manchev, 2013. "Gpm6," IMF Working Papers 13/87, International Monetary Fund.
  5. Douglas B. Reynolds, 2005. "The economics of oil definitions: the case of Canada's oil sands," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 29(1), pages 51-73, 03.
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